The Indian benchmark indices are likely to open flat on Tuesday amid weakness in Asian peers. At 7:00 am, the SGX Nifty was trading 3.50 points or 0.02 percent higher at 15,877.50, indicating a flat start for the broader index in India, cncbctv18.com reported.
Top stock to look for the day:
RITES Ltd: Rail India Technical and Economic Service (RITES) Limited, has bagged additional work on consultancy service (PMC) from Metro Express Limited, of Mauritius. The work involves extension of the mainline from Rose Hill to Reduit through Ebene for an extra fee of MUR 250 million (approx. Rs 45 crore)
HDFC Life Insurance Company: Standard Life will sell a 3.46 percent stake in the company at a price band of Rs 658-678 per share.
Punjab & Sind Bank: The state-owned bank will seek shareholders’ approval next month to set off accumulated losses of over Rs 3,577 crore from its share premium account.
Aditya Birla Capital: Capital market regulator SEBI has kept the proposed initial share-sale of Aditya Birla Sun Life AMC in abeyance (a state of temporary disuse or suspension).
NALCO: The company posted a standalone profit of Rs 935.64 crore against Rs 102.76 crore in the same quarter a year ago. Revenue was rose to Rs 2,821.48 crore against Rs 1,935.86 crore, YoY.
Zee Media Corporation: The company’s Q4FY21 net profit fell 5.75 percent to Rs 10.50 crore from Rs 11.14 crore in the same period last year. Revenue increased 32.41 percent to Rs 182.93 crore from Rs 138.15 crore, YoY.
Future Lifestyle Fashions: The company posted a consolidated net loss of Rs 149 crore in Q4FY21 as against a net loss of Rs 148.65 crore, in the corresponding period last year. Revenue declined 42.4 percent to Rs 831.62 crore from Rs 1,442.96 crore, YoY.
Thomas Cook (India): The company’s subsidiary DEI (Digiphoto Entertainment Imaging) has signed a multi-year memorandum with Shanghai Disney Resort.
Ramco Systems: The company announced that it will provide its next-gen Enterprise Resource Planning (ERP) software to Aden Ports Development Company (APDC) at their Aden Container Terminal (ACT).
Godrej Consumer Products: Indian independent credit rating agency ICRA upgraded the company’s long-term rating to AAA (Stable) from AA+ (Stable) while reaffirming its short-term rating of A1+.
IFCI: The state-owned company’s Q4FY21 consolidated net loss widened to Rs 848.97 crore from Rs 584.19 crore, while total income fell to Rs 15.76 crore from Rs 858.99 crore, YoY.
Earnings: Cochin Minerals & Rutile, DCM, IRCTC, Omaxe, Ruchi Soya, Sintex Industries and Suzlon Energy among others will announce their March quarter earnings on June 29.