Indian indices tracking SGX Nifty which traded lower by 0.41 percent at 6:59 am may see a gap down opening. In Friday's session on positive global cues and continuous fall in daily Covid 19 tally across the country and hopes around re-opening of the economy from June 1, Nifty notched a fresh closing high. Traders and investors will be keeping a close eye on Q4 GDP data due to be released today.
Meanwhile, Asian markets in trade today were trading weak with Japanese Nikkei weak by 0.61 percent at the time of writing this copy.
Here are some of the stocks that shall be in news today:
Bank of Baroda:
In its Q4FY21 results, the public sector lender posted a net loss of Rs. 1047 crore owing to an increase in the bad loan provision. On a year on year basis, the provisions increased by 44 percent to Rs. 4593 crore. The lender's asset quality also worsened with Gross NPA and Net NPA at 8.87 and 2.39 percent, respectively as against 8.48 and 2.39 percent, respectively, in the quarter ago period.
The IT services and consulting firm for the Q4 quarter of FY21 posted three fold increase in consolidated profit at Rs. 58.78 crore. "Financial year 2021 was a landmark year for Affle. We successfully laid Affle 2.0 strategic foundation for the decade ahead anchored on our 2V - Vernacular and Verticalization strategy and our ecosystem level mobile OEM and Operator partnerships".
Shares of Infosys shall be in focus as the stock shall turn ex- dividend in respect of dividend of Rs. 15 per share on Monday (May 31, 2021). Ex-date determines that investors who purchase the shares of Infosys by today will be eligible for receiving the declared dividend.
IDFC First Bank:
Shares of IDFC First Bank shall be in focus after the rating firm Brickwork reaffirms the rating of NCDs and withdraws the rating of bank loan facilities of IDFC First Bank Ltd.
The ratings firm reaffirms ‘BWR AA+/Stable' rating on Bank's Non-Convertible Debentures of Rs. 2496.90cr. The company maintains a stable outlook for the bank as it sees the bank to continue augmenting its retail portfolio over the next year.