BSE Sensex and Nifty 50 set to see a muted opening on Tuesday, as Nifty futures fell 21 points to 15,853 on Singaporean Exchange. Following the fiscal stimulus announced by Union Finance Minister Nirmala Sitharaman, stocks from health and tourism will be keenly watched. Investors will also keep tabs on fourth quarter earnings, oil prices, foreign fund flow, rupee movement and other global cues. Analysts say that very low volumes suggest low participation from institutions even as they are unsure of the direction of the markets which has also led to lower volatility. This has resulted in lower trading interest. “The Nifty has formed an engulfing Top pattern. An opening below Monday’s low could accelerate the downtrend. 15702-15915 could be range for the near term for Nifty,” Deepak Jasani, Head of Retail Research, HDFC Securities.
Stocks in focus
IRCTC, Ruchi Soya, MTNL: BSE-listed companies such as Finolex Cables, Hindustan Oil Exploration, Balmer Lawrie Investments, Indian Railway Finance Corporation, Kirloskar Electric Company, KRBL, Mahanagar Telephone Nigam, Nagarjuna Fertilizers and Chemicals, NBCC (India), Noida Toll Bridge Company, Omaxe, Ruchi Soya Industries, Rail Vikas Nigam, IRCTC, Sunteck Realty, Suzlon Energy, among others will announce their January-March quarter earnings on June 29.
Future Lifestyle Fashions: Future Lifestyle Fashions Ltd on Monday reported a consolidated net loss of Rs 149 crore for the fourth quarter ended in March 2021 impacted by the pandemic. The company had posted a net loss after taxes of Rs 148.65 crore during the January-March quarter a year ago.
Bharti Airtel: Telecom operator Bharti Airtel on Monday said it has added another 28.2 megahertz spectrum to boost network capacity for high-speed data services and it is even ready for 5G technology.
HDFC Life Insurance: According to various media reports, Standard Life (Mauritius Holdings) will be selling 7 crore shares of HDFC Life through a block deal on June 29. The price band of the block deal will be at Rs 658-678 per share. On Monday, shares of HDFC Life closed at Rs 696 apiece, down 4.07 per cent.
Emami: FMCG major Emami on Monday said it has increased its strategic stake in Helios Lifestyle, owner of the male grooming brand The Man Company (TMC), to 45.96% from 33.09%. Emami, the makers of the brands like Navratna, BoroPlus, Fair & Handsome, Zandu Balm & Mentho Plus, and Kesh King, forayed into the fast-growing online male grooming segment with an investment in Gurugram-based Helios Lifestyle in 2017.