Indian indices tracking weakness on the SGX Nifty of 0.16 percent at 7:11 am may see a gap down opening. In the previous day's trade (June 3, 2021), both Sensex and Nifty clocked a fresh closing high of 52,232 and 15690, respectively. Nifty Realty logged gains of close to 4 percent, while Nifty Midcap 100 also hit a fresh high.
Also, investors will watch out for the RBI bi-monthly MPC outcome due to be revealed today at 10:00 am.
Meanwhile, in trade today, Asian markets at the time of writing this copy are trading weak with losses of up to 0.8 percent on the Japanese Nikkei.
Here are the few stocks that shall be in news today:
1. PSU Banks:
PSU Banks may see traction in trade after reports suggest that Niti Aayog has finalized the names of PSU Banks that will be privatized. "We have submitted the names (of PSU banks) to the Core Group of Secretaries on Disinvestment," the official from the government department is quoted as saying in a leading dailies report.
Government think tank Niti Aayog has been delegated the task of short listing the name of 2 PSBs and one general insurer for the pivatization process.
Apart from this move, the banking and other interest sensitive stocks from auto and realty sector will gain focus today.
2. Mahindra and Mahindra:
Ministry of Defence has entered into an agreement with Mahindra Telephonics Integrated Systems for procuring 11 airport surveillance radars with monopulse secondary surveillance radar for the Indian Navy and Indian Coast Guard. The procurement under the ‘buy and make' category shall entail a cost of Rs. 323.47 crore.
Q4 results of the public sector lender are due to be announced today. In the previous day's trade, the stock ended lower by 0.7% at Rs. 43.70 per share. In the previous quarter ended December, the bank posted total income of Rs. 23298 crore, while PAT came in at Rs. 506 crore.
4. Lupin Limited:
The pharma company has launched the generic version of Brovana (arformoterol tartrate) Inhalation Solution 15 mcg/2 mL, unit-dose vials, of Sunovion Pharmaceuticals Inc. In the previous day's trade, the stock ended lower by over 1 percent.
In a BSE filing, the telecom company said that ICRA Limited has reaffirmed [ICRA]AA- (Stable) issuer rating of the Company. However, since the Company, presently has no instrument rated under this rating, ICRA has withdrawn this rating at Company's request.
The Company's debt issuances continue to be rated by CRISIL and India ratings domestically and by Fitch, S&P and Moody's internationally