Indian indices ended with losses for the second straight session on Thursday but as the US markets in the overnight session edged higher for the first time in 4 on better US employment data and rebound in technology stocks and as indicated by SGX Nifty which at 6:55 am traded with gains of 0.04 percent, we can see indices in India opening either steady or with mild gains.
In the Asian markets, there was also seen positive momentum, with Taiwan Weighted leading with gains of over 2 percent:
Now here we list out some of the stocks that will be in focus on May 21, 2021
1. Sugar stocks:
On Thursday with immediate effect, Modi government amid higher global prices, slashed the subsidy on sugar exports to Rs. 4000 from Rs. 6000 per tonne. There is viewed the move shall not impact sugar exports as there is demand for sugar from India without subsidy too.
2. Torrent Power:
For March 2021, the company posted a higher PAT of Rs. 414 crore against Rs. 347 crore. Income at the power generation and distribution company also went higher to rs. 3069 crore . In a 3-year period, the stock has outperformed its benchmark Nifty Midcap 100.
State-run oil marketing company posted its results on Thursday turning around its fortunes to become profit maker. The firm reported 13% yoy higher sales revenue at Rs. 74,905 crore. The sales also improved 8 percent quarter on quarter. Gross refining as well as marketing margins improved for the company leading its profit to reach Rs. 3722 crore from a loss of Rs. 1159 crore during Q4FY20. The company also announced a dividend of Rs. 22.75 per share.
State Bank of India ahead of its results due today will also be tracked, the stock has been gaining for some time and it is expected that country's leading state run lender shall post healthy results. On good momentum in the banking pack, SBI has gained quiet fairly in the week by over 5 percent.
5. City Union:
RBI has fined City Union Bank and Tamilnad Mercantile Bank and Tamilnad Mercantile Bank for non complying with some of the central bank's norms and provisions.
In the case of City Union Bank, the RBI imposed Rs one crore penalty for non-compliance with certain provisions of the directions on lending to Micro, Small & Medium Enterprises (MSME) Sector and the circulars on educational loan scheme and credit flow to agriculture, the RBI said.