Nifty futures on Singaporean Exchange were trading at 9,658, with 176 points or 1.86 per cent gain suggesting a positive opening for the BSE Sensex and Nifty 50 on Monday. Investors will react to host to factors such as fifth phase lockdown in containment zones with many relaxations, GDP numbers where India’s economic growth fell to a 17-yr low of 3.1% in Q4FY20 and April core sector data. Market participants will also react to the auto sales numbers and PMI manufacturing data for the month of May which are scheduled to release today. Foreign Institutional Investors (FIIs) bought shares worth net Rs 1,460.71 crore, while domestic institutional investors (DIIs) also bought Rs 967.43 crore worth of shares on net basis on Friday, according to the provisional data on the NSE.
Stocks in focus today:
Adani Power: The board of Adani Power will consider a proposal for voluntary delisting of the equity shares of the company received from Adani Properties Private Limited from BSE and NSE in its meeting scheduled on Wednesday.
Welspun Enterprises, V-Guard Industries: NK Industries, Orient Electric, Magna Electro, Srikalahasthi Pipes, Birla Cable, Capital India Finance, Welspun Enterprises, V-Guard Industries, Vindhya Telelinks and Yash Management & Satellite are among 14 companies that are scheduled to announce their March quarter earnings today.
Yes Bank: Yes Bank on Saturday informed that there will be a reclassification of shareholding as the Madhu Kapur group has consented to be categorised as public stakeholders. “This is to inform that the Bank has received a letter dated May 28, 2020 (received on May 29, 2020) from Madhu Ashok Kapur; Shagun Kapur Gogia; Gaurav Ashok Kapur; and Mags Finvest Private Limited (collectively referred to as Madhu Kapur Group) consenting to reclassify their shareholding in the Bank as ‘non-promoter shareholders’ (i.e. public shareholders),” the private lender said in a regulatory filing.
Dish TV: Yes Bank disclosed to exchanges that it has acquired a 24.19 per cent stake in direct-to-home service (DTH) provider Dish TV India by invoking pledges shares. Dish TV had kept 44.53 per cent equity as collateral with the lender against loans. “Yes Bank has acquired 44,53,48,990 equity shares having a nominal value of Rs 1 per share, constituting approximately 24.19 per cent of the post-issue paid-up share capital as at March 31, 2020, of a listed company, namely, Dish TV India Limited,” the lender said in a release.
IDBI Bank: IDBI Bank on Saturday reported a net profit of Rs 135 crore in the March quarter, despite providing Rs 247 crore on account of Covid-19. The lender’s net interest income (NII) grew 46% year-on-year (y-o-y) to Rs 2,356 crore.
Maruti Suzuki: MSIL on Saturday announced to extend its services that include free service, warranty and extended warranty. It has also decided to extend the car’s warranty period validity and service timelines by a month.
