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28 June 2021, Pre Market Report: Will Reliance & HDFC Bank help Nifty cross 16000?

As we discussed in our weekly meet on Saturday. Reliance is looking like it has fallen enough to take support, which can be confirmed in the market today. If Reliance starts its up move today, then it would be a great time to enter for a long term. Also as we discussed HDFC seems to have sorted its issues with net banking and also they have assured to make their tech team stronger in the coming days, these positivities will also see the banking sector moving up this week.

Global Markets:

On Wall Street, NASDAQ ended in the red on Friday while Dow Jones and S&P 500 gained & reached all-time high. Among Asian stock markets, Shanghai Composite, Nikkei 225, and KOSPI were in the red while Hang Seng, TOPIX, and KOSDAQ jumped higher. Though US markets are very positive, Asian markets do not look positive as China released their factory production data, which was below estimates.

Indian Markets:

Today, Dodla Dairy and Krishna Institute of Medical Sciences’ shares will start trading on the stock exchanges. While the IPO of Dodla Dairy was subscribed more than 45 times by investors, the KIMS IPO was subscribed a little over 3 times.

With trends from SGX nifty, I think the market will open with a gap up at around 15850-15900, but As I always say, 15900 is strong resistance and needs some real good news to break it. However, If Reliance & HDFC bank starts moving up from here, we can see 16000 soon.

Results on June 28:

NALCO, HAL, Autoline Industries, Eros International Media, Future Lifestyle Fashions, Federal-Mogul Goetze, GIC Housing Finance, IFCI, ISGEC Heavy Engineering, KPI Global Infrastructure, NLC India, Premier Explosives, Sadbhav Infrastructure Project, V2 Retail, Vivimed Labs, Welspun Corp, Zee Media Corporation, among others will announce their results today.

FII and DII data: On Friday, foreign institutional investors (FII) were net sellers of Rs 678 crore worth of stocks. Meanwhile, Domestic Institutional Investors (DII) were net buyers of Rs 1,832 crore. That's it, for now, team, let's discuss more on our Discord group. If you are not on Discord yet, send a WhatsApp msg by clicking here.

Stock Specific News:

Thyrocare Technologies | Docon Technologies and API Holdings, the parent company of Pharmeasy, will acquire a 66.1 percent equity stake in Thyrocare Technologies for Rs 4,546 crore. They also made an open offer for the acquisition of an additional 26 percent stake in Thyrocare at a price of Rs 1,300 per share for Rs 1,788.16 crore.

NTPC | The company has set a target to install 60 gigawatts (GW) of renewable energy (RE) capacity by 2032. It has become India’s first energy company to declare its energy compact goals as part of the UN High-level Dialogue on Energy (HLDE). It is also aiming at a 10 percent reduction in net energy intensity.

IndusInd Bank, Mcleod Russel | IndusInd Bank has acquired over 70 lakh shares in tea company Mcleod Russel after invoking pledged shares of the company to recover its dues.

InterGlobe Aviation | The company’s shareholders have approved a proposal to raise up to Rs 3,000 crore through the Qualified Institutional Placement route.

Lupin | The company has launched Emtricitabine and Tenofovir Disoproxil Fumarate tablets, used in the treatment of HIV-1 infection, in the American market.

Shree Renuka Sugars | The company’s board has approved expanding ethanol production capacity by 430-kilo liter per day to 1,400-kilolitre per day with an investment of Rs 450 crore.

Brigade Enterprises | The company raised Rs 500 crore from qualified institutional buyers at a price of Rs 268 per share.

JSW Energy | The company’s Q4FY21 consolidated net profit rose 16 percent to Rs 104.7 crore from Rs 89.9 crore, while revenue fell 12.5 percent to Rs 1,569.6 crore from Rs 1,793.4 crore, YoY.

Zuari Agro Chemicals | The Competition Commission of India (CCI) has approved the acquisition of the company’s Goa plant by Paradeep Phosphates.

Ircon International | The company has been awarded the railway electrification work of Rs 659 crore, to be executed on EPC mode, from North Frontier Railways (NFR), Ministry of Railways.

Future Consumer | The company reported a lower net loss of Rs 155.12 crore in Q4FY21 compared to that of Rs 175.46 crore in the year-ago quarter. Revenue declined by 59.2 percent to Rs 386.26 crore from Rs 947.07 crore, YoY.

SJVN | The company’s Q4FY21 net profit rose 55 percent to Rs 619.92 crore from Rs 399.21 crore, while revenue jumped to Rs 1,084.96 crore from Rs 703.72 crore, YoY.

Jindal Drilling & Industries | The company reported profit at Rs 44.56 crore in Q4FY21 against a loss of Rs 546.80 crore in Q4FY20. Revenue rose to Rs 112.36 crore from Rs 90.34 crore, YoY.

Finolex Industries | The company’s Q4FY21 consolidated profit jumped to Rs 298.84 crore from Rs 58.66 crore, while revenue rose to Rs 1,249.34 crore from Rs 768.66 crore, YoY.

Ashiana Housing | The company’s consolidated net loss narrowed to Rs 5.2 crore in Q4FY21 from Rs 8.63 crore, YoY. Total income fell to Rs 81.36 crore from Rs 98.59 crore, YoY.

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