Infosys, DHFL, Coal India, UCO Bank, PNB, Bank of India, Tata Steel, IOCL, hospital stocks in focus

Chatists suggest that 15,750-15,800 and 52,300-52,400 would be major obstacles for the Nifty and Sensex, respectively

Trends on SGX Nifty suggest a positive opening for the BSE Sensex and Nifty 50 with a gain of 37.50 points. The Nifty futures were trading at 15,817 on the Singaporean Exchange. In the previous session, equity indices ended at their highest ever closing levels, where the 30-stock index closed at 52,328 while the Nifty 50 index settled at 15,751. Chartists suggest that 15,750-15,800 and 52,300-52,400 would be major obstacles for the Nifty and Sensex and sustenance above 15800 and 52400 levels, would invite short covering in the market. “Below the levels of 15,700 and 52,300, Nifty would fall to 15,600 and 52,000 or 15,550 and 51,850 level,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.

Stocks in focus

Prestige Estates, Titagarh Wagons: BSE-listed firm including Engineers India, Petronet LNG, Max Financial Services, Essar Shipping, Galaxy Surfactants, Jindal Hotels, KM Sugar Mills, Prestige Estates Projects, Shemaroo Entertainment, Surya India, Suven Pharmaceuticals, Talbros Automotive Components, Titagarh Wagons, Vipul Organics, Winsome Textile Industries, and Wonderla Holidays, among others are scheduled to announce their January-March quarter earnings on June 8.

Infosys: Infosys announced a collaboration with Archrock, Inc. to integrate digital technologies and mobile tools for its field service technicians. As part of this engagement, Infosys will leverage its pre-configured accelerator for Microsoft Dynamics 365 Field Service Application to streamline and enhance the efficiencies of Archrock’s field services and operations.

Hospital stocks: The government on Monday announced to cap the service charge levied by private hospitals for COVID-19 vaccine at Rs 150 per dose. Stocks such as Max Healthcare, Apollo Hospitals, Fortis Hospitals, Narayana Hrudayalaya, among others.

PNB, Bank of India: The RBI on Monday imposed penalty aggregating to Rs 6 crore on Bank of India and Punjab National Bank for contravention of norms, including one related to “Frauds – Classification and Reporting”. A penalty of Rs 4 crore has been imposed on Bank of India and Rs 2 crore on Punjab National Bank.

Union Bank of India: Union Bank of India on Monday reported a net profit of Rs 1,330 crore for the March quarter (Q4FY21), compared with a loss of Rs 7,157 crore during the same quarter last year. The lender was back in the black due to a growth in other income and lower provisioning.

Coal India: Demand from Coal India’s (CIL) e-auction sales have started looking up after it had dived down, when for most of the time last fiscal, the miner had to auction at a notified price for about six months to gain volumes in an effective short-of-demand market.

UCO Bank: Uco Bank has again urged the Reserve Bank of India to consider taking it out of the the prompt corrective action (PCA) framework after posting full year profit for the last fiscal, its MD & CEO AK Goel said on Monday.

Tata Steel: Ferro alloys and stainless steel manufacturer Rohit Ferro-Tech’s resolution professional on Monday filed the resolution plan of Tata Steel subsidiary Tata Steel Mining, which was approved by the lenders, with the National Company Law Tribunal (NCLT) for its approval.

Indian Oil Corporation: IOC on Monday said it has signed up an investment pact for adding petrochemical and lube plants to its previously announced plan to expand crude oil processing capacity at its Koyali refinery at Vadodara in Gujarat.