SGX Nifty was trading in the negative territory, down 40 points before the opening bell, indicating a gap-down start for BSE Sensex and Nifty 50. On the technical charts, the short-term trend of NSE’s Nifty seems to be positive. “This pattern opens another round of downward correction from here. However, a decisive move below the immediate support of 14400 is likely to open the door for the next lower support of 14200-14150 levels in the short term. The sustainable up move could only resume above 14550 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks in focus today:
Maruti Suzuki, Axis Bank: As many as 28 companies BSE-listed companies including Axis Bank, Bajaj Finance, HDFC AMC, Maruti Suzuki, Britannia Industries, Hindustan Zinc, TVS Motor Company, Syngene International, Sanofi India, and VST Industries, will announce their quarterly results on April 27.
Indian Railway Catering & Tourism Corporation Ltd: Indian Railways announced that due to rise in cases of COVID infection in the country and travel related restrictions; operation of the IRCTC Lucknow – New Delhi Tejas Express train thas been suspended.
SBI Cards and Payment Services: SBI Cards and Payment Services on Monday reported a 110 per cent rise in net profit at Rs 175 crore for the quarter ended March 2021. The credit card company, promoted by the country’s largest lender SBI, had posted a net profit of Rs 84 crore in the corresponding January-March period of the preceding fiscal year 2019-20.
Tech Mahindra: Tech Mahindra reported a 34.6 per cent jump in net profit to Rs 1,081 crore for the January-March 2021 quarter on account of an expansion in profit margins, and guided towards targeting for a double-digit revenue growth in FY22.
SAIL: Even as the country reels under shortage of oxygen, SAIL is unable to despatch all of its stock pile of 11,000 tonnes of oxygen, for want of enough tankers.
Tata Steel: Tata Steel on Monday said it has increased its daily oxygen supply limit to 600 tonne a day to health centres for the treatment of COVID-19 patients. On the directions of the steel ministry, steel plants in the country are supplying liquid medical oxygen (LMO) to various states amid rising demand for the gas.
Wipro: Wipro announced the implementation of a digital experience platform for Bristol Water to modernize critical infrastructure. As part of this implementation, Wipro will develop a new cloud-based solution with capabilities such as instant release, high security, low maintenance, and ability to seamlessly integrate with Bristol Water’s existing systems through bespoke Application Programming Interface (API) solutions.
Snowman Logistics: During the quarter ended March 31, 2021, Snowman Logistics recorded a revenue of Rs 64.11 crore as against Rs 60.98 crore for the same period in the previous year. EBITDA increased to Rs 17.80 crore from Rs 15.99 crore for the same period in the previous year.