Market watch – HPCL, HDFC AMC, SBI Life, Emami, Muthoot Finance

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Companies like Emkay Global, Aban offshore, the Forties, Health Cummins India, Indraprastha, Indostar Capital, ITD Cementation, JK Cement, Mangalam Cement, Muthoot Finance, Natco pharma, Pidilite Industries, and REC had recently announced their March quarterly earnings. Nifty trading reached at 66.55 points or 0.67 percent which is less at 9818.50 on the Singaporean exchange, shows a negative opening for BSE Sensex due to the recent rising tensions between India and China which led to the loss of 20 Indian soldiers. According to the provisional data published by NSE report that Foreign Institutional Investors (FII) sold shares worth Rs 1478.52 crore and DII ( Domestic Institutional Investors ) bought shares worth Rs 1161.51 crore on a net basis.

Stocks in focus today: 

  1. HPCL: HPCL announced a net profit of Rs 26.8 crore at the end of March a drop of 99.1% from the same period a year ago.
  2. SBI Life: SBI informed that they had sold 2.1 percent stake of its subsidiary SBI Life Insurance which is a joint venture State Bank of India (SBI) and French Financial services from BNP Paribas Cardiff.
  3. HDFC AMC: HDFC AMC(Asset management company), one of the promoters of standard life Investments proposed to sell up to 2.52 % of the stake through Offer for scale (OFS ), and the price of the share shall be at Rs 2362 per share.
  4. Emami: Pandemic COVID 19 caused significant disruption in the business operations of the company affecting the pre-season sale of the company’s summer products and a further decrease in the consumption pattern of the consumers due to the rising unemployment rate and significant decline in the demand from low-income group.

Companies like Muthoot finance, JK cement, Fortis Healthcare, Cummins India, Natco pharma, Pidilite Industries, Indostar capital, ITD, Indraprastha Gas, Mangalam Cement, REC, Emkay Global and REC are among the 46 companies that are proposed to announce their quarterly earnings on Wednesday. The focus is on the bank stocks as the hearing regarding the Interest reunification case is in the Supreme Court today. In general, the stock of the companies is rising compared to the previous month.