SGX Nifty hinted at a constructive begin for benchmark indices BSE Sensex and NSE Nifty 50 on Friday. Nifty futures traded 211 factors, or 1.34% larger at 15,996, on the Singapore Exchange signaling that Dalal Street was headed for a gap-up open. “Rising inflationary pressure, continuous FIIs selling and rupee depreciating to all time low have turned investors pessimistic in the near term. After a minor pause, sharp selling was again seen in the market and it was unable to hold at higher levels. Rising VIX is further giving discomfort and suggesting wild swings ahead. Nifty has broken its key support levels and till it is below 16,000 – weakness may continue towards 15,500,” mentioned Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
Stocks in concentrate on 20 May, Friday
Hindustan Aeronautics (HAL): Hindustan Aeronautics introduced that Type Certification of first Indigenous Light Transport civil passenger plane “Hindustan 228-201” was handed over at the moment by Directorate General of Civil Aviation (DGCA) to Transport Aircraft R & D Center, HAL Kanpur at DGCA HQ New Delhi. Hindustan 228-201 plane is the primary Type Certified mounted wing plane in India complying with newest FAR 23 certification requirement which is a serious milestone in the direction of imaginative and prescient of constructing a brand new, AtmanNirbhar Bharat.
Biocon: Biocon Biologics Ltd., a subsidiary of Biocon, and Viatris Inc. introduced on Thursday that Abevmy® (bBevacizumab) is now out there in Canada. Abevmy, co-developed by Biocon Biologics and Viatris, is a biosimilar to Roche’s Avastin® (Bevacizumab) and has been accepted by Health Canada throughout 4 oncology indications, based on the businesses’ press assertion on Thursday. “With the launch of Abevmy, (bBevacizumab), we are adding another world-class biosimilar to our oncology portfolio in Canada, which includes Ogivri (Trastuzumab) and Fulphila (Pegfilgrastim). Abevmy will be an important addition to our existing portfolio and will enable us to expand patient access to another affordable biologic for cancer care,” Matthew Erick, Chief Commercial Officer, Advanced Markets, Biocon Biologics, mentioned in an announcement.
HPCL: State-run oil refiner and marketer Hindustan Petroleum Corp. Ltd (HPCL) posted a 34% decline in consolidated internet revenue within the March quarter to Rs 2,019 crore from Rs 3,061 crore within the year-ago interval resulting from rise in complete value. Revenue for the quarter stood at Rs 1.07 lakh crore, up 24.2% from Rs 85,755 crore final 12 months. Total value rose 28% to Rs 1.05 lakh crore from Rs 81,717 crore a 12 months in the past. Operating margin for the quarter contracted sharply to 1.57% from 4.46% final 12 months. Average gross refining margin throughout the 12 months ended March 2022 was $7.19 per barrel as in opposition to $3.86 per bbl throughout the corresponding earlier 12 months.
Ashok Leyland: Ashok Leyland Ltd reported a 274% on-year soar in internet revenue at Rs 901.4 crore for the fourth quarter. Total earnings stood at Rs 8,744.3 crore throughout the quarter, up 24.9% in opposition to Rs 7,000.5 crore within the corresponding interval of the previous fiscal. Its truck market share for This autumn FY 22 has improved to 30.6% in opposition to 28.9% in This autumn FY21, that is the very best market share seen within the final 11 quarters.
Fortis Healthcare: Markets regulator Sebi has imposed penalties totalling Rs 38.75 crore on 32 entities, together with Fortis Healthcare Holdings, in a case associated to diversion of funds of Fortis Healthcare Ltd (FHL) and misrepresentations to hide the fraud. The matter goes manner again to 2018 when a media report got here out that the promoters of the listed FHL had allegedly taken large funds out of the listed firm. It had additionally identified that Deloitte Haskins & Sells LLP, the statutory auditor of FHL, had refused to signal on the corporate’s second quarter outcomes till the funds have been accounted for.
This autumn Results at the moment: Amara Raja Batteries, IDFC Ltd, Indigo Paints, Lakshmi Mills Co Ltd, Mindteck India Ltd, Nuvoco Vistas Corp Ltd, Rane Madras Ltd, SML Isuzu Ltd will report their March quarter earnings at the moment