Reliance, Coal India, Tata Steel, Zee Entertainment, Future Retail, Bank of Baroda, BHEL stocks in focus

Technical analysts say that the intraday texture of the Nifty is weak but a strong possibility of a pullback rally is not ruled out if it succeeds to trade above 50 days SMA or 17750. Image: Reuters

Nifty futures were trading 48.50 points or 0.27 per cent up at 17,980 on Singaporean Exchange, indicating a gap-up opening for BSE Sensex and Nifty 50 on Friday. Besides, movement in global markets, as well as fluctuation in currency (especially dollar) and crude prices, will be closely tracked. Technical analysts say that the intraday texture of the Nifty is weak but a strong possibility of a pullback rally is not ruled out if it succeeds to trade above 50 days SMA or 17750. “For day traders, 17750-17800 would be key support levels, and as long as the index is trading above the same, bullish sentiment will be intact. On the flip side, below 17750, it could trigger short-term weakness and we may see a quick intraday correction up to 17700,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities, said.

Stocks to watch

Coal India, ONGC: A total of 767 BSE-listed companies including Coal India, Grasim Industries, Hero MotoCorp, Hindalco Industries, ONGC, Amara Raja Batteries, Apollo Hospitals Enterprise, Ashok Leyland, Mrs Bectors Food Specialities, Bharat Forge, Burger King, Force Motors, Glenmark Pharma, Motherson Sumi Systems, NALCO, NBCC, Paras Defence, and Suzlon Energy will release September quarter earnings on November 12.

Stocks under F&O ban: Seven stocks – Bank of Baroda, BHEL, Escorts, Indiabulls Housing Finance, Punjab National Bank, SAIL and Sun TV Network – are under the F&O ban for November 12. If the open interest of any stock crosses 95% of the MWPL (market-wide positions limits), all F&O contracts of that stock enter a ban period.

APL Apollo Tubes: DSP Mutual Fund acquired 14.72 lakh equity shares at Rs 900 per share, while promoter Rahul Gupta sold 15.01 lakh shares at Rs 900.32 per share, and promoter entity APL Infrastructure offloaded 30.01 lakh equity shares at Rs 900.04 per share on the NSE.

Reliance Industries Ltd: Mukesh Ambani’s Reliance Retail Ventures Limited (RRVL) has acquired retail lingerie businesses under the ‘amante’ umbrella brand from MAS Brands, a wholly-owned subsidiary of Sri Lanka-based MAS Holdings, for an undisclosed amount.

ZEEL: Zee Entertainment Enterprises on Thursday reported a 187% rise in its consolidated net profit at Rs 270.2 crore, but this was below analyst estimates that had forecast a quarterly net profit of Rs 286.5 crore. In comparison, the media firm had posted a net profit of Rs 94 crore for the same quarter of last financial year, it said in a stock exchange announcement.

Tata Steel: Tata Steel on Thursday reported a 7.5-times jump in its consolidated net profit for the quarter ended September 30, 2021. The sharp increase in profits was supported by higher realisations and sale of Singapore entity NatSteel Holdings, even as steel deliveries declined in a seasonally-weak quarter.

Future Retail: The Supreme Court on Thursday told Future Retail (FRL) not to proceed with its Rs 24,713-crore merger deal with Reliance Retail in any manner till it hears the case on November 23.

Adani Green Energy: Adani Green Energy Ltd (AGEL), the world’s largest solar power developer, is targeting 45 gigawatts of renewable energy capacity by 2030 and will invest USD 20 billion to develop a 2 GW per year solar manufacturing capacity by 2022-23.