Indian indices in trade on May 25, 2021 (Tuesday) may open on a positive note in line with the gains of 0.47% on the SGX Nifty at 6:18 am Indian time. In the overnight trade, the US markets Nasdaq index ended higher by over 1 percent. Initially energy stocks there gained traction owing to gains in the crude prices.
Meanwhile, Asian indices also have been trading positive with Nikkei and Kospi both trading firm at the time of writing this report.
Here are a few stocks that may be in action today on account of stock specific news:
1. Panacea Biotec:
Russia's Sovereign Wealth Fund and Panacea have announced the launch of the Russian Sputnik V vaccine against Covid 19. The vaccine is being manufactured at the company's Baddi facility. In trade on Monday, the stock closed at a price of Rs. 384.50, gaining over 3 percent per share on the NSE.
The IT company TCS has bagged a leadership position in the IDC MarketScape for Worldwide Supply Chain Oracle Ecosystems Services."TCS SCM services are deeply rooted in Ecosystem Thought Leadership and delivered in a consulting-led approach that leverages its extensive digital capabilities", said the report.
"Manufacturers in industries such as automotive, high tech, heavy machinery, and life sciences with a focus on application development, systems implementation, or business process outsourcing should consider TCS when looking for a partner that can drive Oracle Supply Chain Management (SCM) value and supply chain transformation on a global scale", added the report.
Ahead of its quarterly numbers due to be announced today, PNB shares shall be in focus. The earnings season for PSBs started with Canara Bank that posted sharp gains in terms of profitability. SBI too came out with spectacular results, with most brokerages raising the stock's target price. Seeing the technicals, experts have been recommending investing in banking shares for the short term including PNB, Canara Bank and SBI.
4. Adani Green:
On Saturday, the company announced that its wholly owned arm Adani Renewable Energy Holding Four Limited has transferred 74 percent shareholding of Mundra Solar Energy (MSEL) to Adani Tradecom LLP (ATLLP), a wholly-owned subsidiary of Adani Enterprises on May 21, 2021.
5. Mahanagar Gas:
For the March FY21 quarter, the total revenue at the company came in at Rs. 801 crore, higher than the previous quarter. Reported PAT was at Rs. 212.77 crore versus Rs. 217.2 crore in the previous quarter. In the year ago period, the PAT figure was at Rs. 167 crore. The surge in profit year-on-year is owing to lower natural gas prices.
6. Jewellery Stocks
The government has extended the deadline for mandatory hallmarking of gold jewellery to June 15, 2021. Earlier it was to take effect from June The decision on the same was taken at a meeting led by Piyush Goyal, consumer affairs minister. Largely the extension has been owing to the second wave of coronavirus pandemic.