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Tata Steel, IDBI Bank, Wipro: Top Stocks For Investors on May 6

(Image for representation purpose only)

(Image for representation purpose only)

At 09:02 AM IST, the BSE Sensex was up 488.99 points or 1 percent at 49,166.54, while the Nifty was up 54 points or 0.37 percent at 14,671.90.

After gaining decent highs on Wednesday, Indian indices are likely to open higher tracking Asia cues which rose in early trade on Thursday. At 09:02 AM IST, the BSE Sensex was up 488.99 points or 1 percent at 49,166.54, while the Nifty was up 54 points or 0.37 percent at 14,671.90.

Top stock to look for the day:

Tata Steel: The company posted consolidated profit at Rs 7,162 crore for the quarter ended March 2021. Its consolidated revenue stood at Rs 49,977.4 crore over Rs 36,009 crore reported in the corresponding quarter of the last fiscal.

Bajaj Finance: The Reserve Bank of India (RBI) granted authorisation to company for issuance, operation of semi-closed Prepaid Payment Instrument with perpetual validity.

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IDBI Bank: The Union Cabinet on Wednesday cleared the proposal for strategic disinvestment along with transfer management control of the private lender. The Indian Government and the Life Insurance Corporation (LIC) together own more than 94% stake in the bank.

Cipla: The pharmaceutical company’s strategic partner Roche India said the Central Drugs Standards Control Organisation (CDSCO) provided an Emergency Use Authorisation (EUA) for Roche’s antibody cocktail (Casirivimab and Imdevimab) in India.

Wipro: The company has partnered with Transcell Oncologics to transform vaccine safety assessment using augmented intelligence.

Tata Motors: The Competition Commission of India (CCI) ordered investigation into anti-competitive practices by the automaker on behalf of two auto dealers.

Gillette India: The company reported profit at Rs 105.66 crore in Q3FY21 against Rs 52.38 crore in same quarter of the last fiscal. Its revenue increased to Rs 536.62 crore from Rs 406.57 crore YoY.

Adani Green Energy: The company reported consolidated profit at Rs 104 crore in Q4FY21 against Rs 56 crore in the corresponding quarter last year. Their revenue increased to Rs 986 crore from Rs 696 crore YoY.

AF Enterprises: The company has been qualified as an L1 bidder after it received work order amounting Rs 1,99,80,000 from Uttar Pradesh Medical Supplies Corporation (UPMSCL) for manufacturing of personal eye protector goggle.

JM Financial: The company reported consolidated profit at Rs 233.65 crore in Q4FY21 against Rs 162.96 crore in the same period last fiscal. However, its revenue fell to Rs 825.09 crore from Rs 835.89 crore YoY.

Maharashtra Seamless: Oil and Natural Gas Corporation (ONGC) has issued the letter of award to Jindal Drilling & Industries for deployment of Jack-up drilling rig ‘Jindal Explorer’ owned by Maharashtra Seamless on charter hire contract for a period of three years.

Prozone Intu Properties: The company on May 3 sold 25 percent investment in Moontown, which consequently led to Moontown being ceased to be a joint venture of the company. Moontown Trading Company was a joint venture between Prozone Intu Properties and Shalom Voyagers.

Kalyan Jewellers: The company announced the extension of the Gold Ownership Certificate initiative. The company in its BSE filing based on customer requests. It was launched last year, during the lockdown and with the current lockdown getting extended, the jewellery brand has reinitiated the offer/facility.

Shalby: The company reported consolidated profit at Rs 9.77 crore in Q4FY21 against loss of Rs 17.1 crore in the same period last year. Its revenue jumped to Rs 145.04 crore from Rs 108.88 crore YoY.

Praj Industries: HDFC Mutual Fund sold 4,34,583 equity shares or 0.24 percent in the company via open market transaction on May 3. Thus reducing their shareholding to 6.51 percent from 6.75 percent earlier.

Maithan Alloys: The company’s board of directors approved demerger of its real estate and ancillary business from Ma Kalyaneshwari Holdings into Anjaney Land Assets.

List of companies which are going to declare their quarterly results:

Hero MotoCorp, Blue Star, Apcotex Industries, Adani Power, Procter & Gamble Health, Adani Transmission, ICRA, Bombay Burmah Trading Corporation, IIFL Finance, Caplin Point Laboratories, Tata Consumer Products, CreditAccess Grameen, Ludlow Jute & Specialities, Century Textiles & Industries, Sundram Fasteners, Coforge, Hindoostan Mills, Jost’s Engineering, Praj Industries, Raymond, Solara Active Pharma Sciences, Five X Tradecom, Foseco India, Hikal, and Ashika Credit Capital among others will release quarterly earnings on May 6.

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first published:May 06, 2021, 09:59 IST