The headline indices tracking gains in the SGX Nifty of 0.54% at around 6:45 am may open higher. In the previous day's trade, indices during the last hour of trade pared most of the day's losses to end 85 point lower on the Sensex, while Nifty ended almost flat at 15576.
Meanwhile, Asian markets, were seen trading positive at the time of writing this report, with gains of up to 0.5 percent on Straits Times.
Here are the few stocks that may be in focus on stock specific news:
1. Reliance Infrastructure:
The board of Reliance Infrastructure has called upon a meeting on June 6, 2021 for considering the proposal and/or any other proposals for raising long term equity. The stock last ended 5 percent higher at Rs. 63.4.
The loss of the multiplex operator for the Q4 quarter of FY21 has widened to Rs. 289 crore. In the same quarter of last year, the company logged a loss of over Rs. 75 crore. "FY 2020-21 was one of the toughest years for the multiplex industry and the company was able to successfully navigate the challenges on account of COVID-19 through a continuous focus on reducing fixed costs and keeping adequate liquidity on the balance sheet," said the company.
Wipro in a BSE filing has disclosed that it has made a minority strategic investment in Squadcast, Inc. The purchase consideration of the deal amounts to USD 1.2 million and the transaction is expected to be completed by the June quarter.
In another development the company has sold its entire holding in Denim Group for a sum of USD 22.42 million or approximately Rs. 160 crore.
4. Reliance Industries:
For the FY 2020-21, the Mukesh Ambani led company has released its Annual Report. Ambani calls Jio, retail and O2C businesses to be the company's hyper-growth engines. Also, he specified that the company's balance sheet and liquidity conditions remain robust, which will drive future growth of the company.
5. Rossari Biotech
The company that manufactures household products like Vim, Rin etc. for brands like HUL etc. has announced its plan to take over another chemicals company Unitop Chemicals for a financial consideration of Rs. 421 crore.
"Unitop Chemicals is a natural fit with our operations and brings with it immense synergies and complementary growth dimensions," said Rossari's executive chairman Edward Menezes and managing director Sunil Chari in a statement.