The headline indices on Tuesday (June 1,2021) ended on a flat note led by weakness in the private banking space. Nonetheless strength in the SGX Nifty of 0.36 percent as at 6:24 am Indian time signals positive opening for the markets today.
The market in yesterday's trade after opening higher and logging a fresh high on the Nifty was dragged down owing to macro economic data as well as profit booking.
Meanwhile, Asian markets are trading with gains of up to 0.5 percent on the Kospi while Nikkei is trading flat at the time of writing this report.
Here are the stocks that shall gain traction on stock specific news:
The IT major has started an internal probe after SEBI has banned 8 entities including individuals from stock market trading on involvement in insider trading activities. "On June 1st, Infosys was informed of an interim ex-parte SEBI Order where two of its employees, amongst other third parties have been named, in an ongoing insider trading investigation. Infosys has a well-defined Code of Conduct covering all its employees and an Insider Trading Policy that governs dealing with unpublished price sensitive information,"one of the spokesperson from the company is quoted as saying in a leading dailies report.
2. Jewellery companies:
Stocks from the space can again be brought into focus ahead of mandatory hallmarking deadline of June 15. This is because the sector as a whole is seeking clarity on various issues as well as is selling gold at a discount as after June 15 they will be able to sell only hallmarked gold in the country.
3. Tata Motors:
The passenger vehicle major for the May month posted a sales volume decline of 38 percent logging sale of 24,552 units in comparison to 39,530 vehicles in April. This is indeed a good number in comparison to the last year's May month wherein it clocked sales of just 4418 units.
The cigarette to hotel major reported a decline in PAT year on year at Rs. 3748.4 crore for the Q4 period as against Rs. 3797 crore in the same quarter of last year. This is owing to a margin pressure from the company's non-cigarette FMCG space. Also, there is a 50 percent spike in the tax bill for the period under review.
The company provided a final dividend of Rs 5.75 per share including interim dividend of Rs 5 taking total dividend for FY21 to Rs 10.75.
For the purpose of determining investors' eligibility for the final dividend, the record date has been fixed at Friday, 11th June, 2021.