Maruti Suzuki India, HCL Technologies, Bajaj Finserv, SBI Life Insurance Company and Shriram Finance would be announcing their quarterly earnings later today.
Vodafone Idea said its board will meet on April 6 to consider the issuance of equity or convertible securities on a preferential basis to one or more promoter group entities.
The Reserve Bank s December circular prohibiting regulated entities such as NBFCs from investing in AIFs having downstream investments either directly or indirectly in a debtor company of the entities had stressed investors. The rules also required entities to liquidate their investment within 30 days from the date of downstream investment or make 100% provision.
The stock hit a fresh 52-week high of Rs 1,741 on December 15, 2023, but failed to hold on to the momentum. It slipped below the 50-DMA in February on the daily chart but found some support above the 200-DMA. It is also trading in a 15-year-old Rising Channel pattern on the monthly charts. The recent selloff pushed the stock towards the support zone of the channel. Hence, a technical bounceback could be on the cards.