Reliance Industries, Yes Bank, HUL, Future Retail, Vedanta, Equitas SFB stocks in focus

Nifty fututres were trading one per cent or 147.5 points down at 14,783.50 on Singaporean Exchange, suggesting a negative opening for BSE Sensex and Nifty 50 on Friday. Investors will continue to watch rising COVID-19 cases, on-going vaccination drive, fresh restrictions and lockdown in some states, oil prices, rupee movement and other global cues. Analysts say Nifty has been forming higher highs – higher lows from the last five trading sessions but formed a Bearish candle on daily scale. “Now, it has to continue to hold above 14800 zones to witness an up move towards 15000 and 15150 zones while on the downside support exists at 14700 and 14600 zones.
So far the positive global cues and strong quarterly earnings season has been supportive to the market. While the market undertone is positive, the extension of lockdowns and the continuous rise in cases could cap the upside,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus today

RIL: Mukesh Ambani’s Reliance Industries Ltd is scheduled to announce it Januray-March quarter earnings on April 30. The company will also announce dividend for the shareholders. So far in April RIL stock is down 3 per cent while it’s flat on year-to-date (YTD) basis. Analysts expect RIL’s revenue to grow at least in double digits sequentially.

Yes Bank, IndusInd Bank: A total of 25 BSE listed companies including Reliance Industries Ltd, Yes Bank, IndusInd Bank, Marico, Indian Hotels, Ajanta Pharma, Trent, Can Finance Homes, Astec Lifesciences, Atul, Shriram City Union Finance, and RPG Life Sciences will announce their quarterly results today.

Equitas SFB: Equitas Small Finance Bank on Thursday reported a 162% jump in its profit after tax (PAT) at Rs 113 crore for Q4Fy21, against Rs 43 crore in the corresponding quarter of the previous fiscal. Total income stood at Rs 997 crore as against Rs 799 crore in the year-ago preiod, registering around 25% growth.

HUL: Hindustan Unilever (HUL) on Thursday reported a robust growth in volumes of 16% year-on-year for the three months to March on the back of all round growth. The FMCG major had reported a contraction of 7% in volume in Q4FY20 following the nationwide lockdown.

Embassy Office Parks REIT: Embassy Office Parks REIT has reported an increase of 12% year-on-year in net operating income, with operating margins of 86% for the fourth quarter of FY21.

Future Retail: Rating agency S&P has downgraded Future Retail’s long-term rating issuer credit rating to ‘SD’ (selective default) from ‘CCC-’ . The rating action came after Future Retail announced the implementation of a one-time restructuring plan by lenders on debt aggregating about Rs 10,200 crore.

Vedanta: Vedanta on Thursday said its Chairman Anil Agarwal has pledged Rs 150 crore to help India in its fight against deadly COVID-19 second wave. The amount is over and above Rs 201 crore that was spent by Vedanta Group in 2020, it said in a statement.