BSE Sensex and Nifty 50 had been looking at a gap-up begin on Thursday, a day of weekly F&O expiry. Nifty futures had been ruling 156.50 factors or 0.94 per cent up at 16845.50 on Singaporean Exchange. In the earlier session, benchmark indices tanked over 2 per cent after Reserve Bank of India (RBI) hiked repo charge, CRR. BSE Sensex was down 1,306.96 factors or 2.29% at 55,669.03, and the NSE Nifty 50 was down 391.50 factors or 2.29% at 16,677.60. The Reserve Bank has created a stir within the Indian markets by out of the blue growing rates of interest. “The market closed below the crucial level of 16800 on the back of a negative result, which would push the market further down to 16400/16200 in the near term. On the upside, 16800/16900 would act as the biggest hurdle. Reducing weak long positions is advisable near the 16800 levels and contra buying is recommended only around 16200 and below,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities, stated.
Stocks to look at
Tata Steel: Rising metal costs and agency demand might immediate Tata Steel to advance its acknowledged capability growth goal by a number of years, CEO and managing director TV Narendran informed FE on Wednesday.
Tata Consumer Products: Tata Consumer Products (TCPL) on Wednesday reported an over three-fold soar in its consolidated web revenue at Rs 239.05 crore for the quarter ended March 31, 2022.
Kotak Mahindra Bank: Kotak Mahindra Bank reported a web revenue of Rs 2,767 crore within the March quarter of FY22, up 64.5% year-on-year (y-o-y), on the again of sturdy progress in loans and web curiosity revenue (NII), and provision write-backs.
Adani Total Gas: Adani Total Gas reported a 47.5 per cent drop in its fourth-quarter web revenue after it used costly imported LNG to fulfill a spurt in demand for CNG and piped cooking gasoline.
Adani Power, Dabur India, TVS Motor Company: BSE-listed corporations reminiscent of Adani Power, Adani Transmission, Dabur India, Marico, Exide Industries, Happiest Minds Technologies, Indus Towers, TVS Motor Company, Voltas, AAVAS Financiers, Blue Star, Aptus Value Housing Finance India, Blue Dart Express, Borosil Renewables, Computer Age Management Services, CEAT, Cholamandalam Investment and Finance Company, DCM Shriram, Firstsource Solutions, Intellect Design Arena, Jindal Stainless (Hisar), MMTC, Punjab Alkalies & Chemicals, Procter & Gamble Health, PNB Gilts, Quick Heal Technologies, Sona BLW Precision Forgings, and Tribhovandas Bhimji Zaveri will launch quarterly earnings on May 5.
Tata Power: The state-run SJVN awarded the contract to construct a 1,000 MW solar energy challenge in Bikaner, Rajasthan, to Tata Power Solar Systems.
Source: www.financialexpress.com”