The Indian benchmark indices are likely to open in green on Tuesday, as the trend on SGX Nifty indicates a positive start for the broader index in India. According to cnbctv18.com report, the Nifty futures were trading 72.50 points or 0.47 percent higher at the 15,652.50 level on the Singaporean Exchange at 7:10 am.
Top stock to look for the day:
Punjab National Bank: The state owned bank has reduced its benchmark one-year marginal cost of funds-based lending rate by 0.05 percent to 7.30 percent.
IndiGo: The aviation company on Monday announced compulsory leave without pay (LWP) for senior employees for up to four days per month till September 2021, as passenger traffic has reduced due to the second wave of the COVID-19 cases in the country.
Cipla: The pharma company said it is in the process of seeking clarity and guidance from the government for exploring the possible roadmap for vaccine importation to India. However, no definitive terms have been finalised at this stage yet.
Auto stocks: The automobile manufactures will release their sales numbers for the month of May today.
Honeywell Automation India: The company’s Q4FY21 net profit fell to Rs 104.02 crore from Rs 111.14 crore in Q4FY20, revenue fell to Rs 672.7 crore from Rs 704.26 crore, YoY.
Nahar Industrial Enterprises: The company reported a consolidated profit at Rs 40.27 crore in Q4FY21 against a loss of Rs 2.49 crore in the same period last year. While revenue increases to Rs 463.62 crore from Rs 406.85 crore, YoY.
Canara Bank: S K Majumdar has been appointed as the bank’s Chief Financial Officer (CFO) with immediate effect.
Asian Granito India: The company’s Q4FY21 consolidated profit jumped to Rs 20.31 crore from Rs 6.88 crore in Q3FY21. While revenue increased to Rs 434.14 crore from Rs 257.73 crore, YoY.
Narayana Hrudayalaya: The company reported a higher consolidated profit at Rs 68.05 crore in Q4FY21 against Rs 11.99 crore the corresponding period last year. Revenue rose to Rs 837.76 crore from Rs 742.95 crore, YoY.
IRB InvIT: The investment trust reported a 4.71 percent increase in consolidated profit for FY21 at Rs 180.84 against Rs 172.69 crore for FY20.
Allied Digital Services: The company’s Q4FY21 consolidated profit rose to Rs 3.9 crore from Rs 2.85 crore in Q3FY21. While revenue rose to Rs 95.76 crore from Rs 90.13 crore, YoY.
Magma Fincorp: The non-banking financial company’s (NBFC) Q4FY21 consolidated net loss widened to Rs 647.72 crore from Rs 355.08 crore, YoY, due to accelerated write-offs and provisions. The board appointed Adar Poonawalla as the chairman of the company on May 31.
The market is all set for – ITC, Balrampur Chini Mills, Gujarat Gas, Radico Khaitan, Sungold Media and Entertainment, Salasar Techno Engineering and VR Woodart among others to release their quarterly earnings on June 1.
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