The markets ended the week ended June 4, 2021 on a positive note though on Friday we saw indices tumble, weighed down by the banking pack. SGX Nifty trend at 7:49 am of gains of 0.3 percent suggests gap-up opening for the Indian markets.
Meanwhile, Asian indices are trading mixed with Nikkei up in trade while Hang Seng is trading weak and Taiwan is leading the losses with a drag of over 2 percent.
Here are the stocks that will be in focus today on stock specific news:
1. Interglobe Aviation:
The stock of Interglobe Aviation, the parent company of low frill airline will be in focus as for the March ended quarter its losses widened to Rs. 1147 crore. This was owing to higher fuel cost and also the corona led disruption. In the previous quarter, the company reported loss of Rs. 620 crore. Last, the stock closed lower by 0.6% at Rs. 1754.
2. Phoenix Mills:
The stock will be brought into focus as the economy begins to reopen today in most part of India. Also, the mall operating entity in a BSE filing on June 5 said Pursuant to Regulation 30(6) read with Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ("Listing Regulations"), we wish to inform you that the Company will be undertaking the Interactions with following Investors through audio and video arrangements:.
The name of investors listed include TT International, Aditya Birla Sunlife AMC, ICICI Prudential AMC, UTI AMC. On Friday the stock of Phoenix hit a fresh 52-week high.
These state run entities that fix up the fuel rate will gain prominence today as crude in international market is going near $72 per bbl while petrol price in Delhi has gone beyond Rs. 95 per litre. Also, centre's further move on divestment may drive the stock price movement of BPCL.
On Friday, PNB posted net profit of Rs 568 crore in the fourth quarter of FY21. In the December quarter, the profit came in at Rs. 506 crore, implying 16% gains sequentially. NII also increased 48 percent to Rs. 6937 crore. Note the year on year financials cannot be compared as starting April 1, 2020, OBC and United Bank merged into PNB.
5. Hero MotoCorp
Hero MotoCorp, the world's leading 2-wheeler manufacturing company on June 5 notified about its strategy of imparting new vigour and energy to the Nigeria market. Also, in line with its plan, the New Delhi based auto major developed a motorcycle especially for the Nigerian market.
6. Praj Industries
In a BSE filing, the company from the heavy engineering segment scaled a fresh high of Rs. 404.7 per piece on the NSE. This is as 20% ethanol blending rules which were to be implemented from April 2025 earlier have been preponed to April 2023. The stock has surged close to 8 percent today.