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2 midcaps and a smallcap that may fly higher in a few weeks
indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Jindal Stainless signs MoU with Tata Steel Mining; stock advances 10%
business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Trends on SGX Nifty indicate a cautious opening for indices
Indian markets could open flat to mildly lower, in line with mildly negative Asian markets today and despite sharply negative US markets on Monday.
Trends on SGX Nifty indicate a cautious opening for the index in India. Indian markets could open flat to mildly lower, in line with mildly negative Asian markets today and despite sharply negative US markets on Monday. After Monday s sell-off of over 1 percent, the Nifty is expected to open flat to negative at 15730. Key levels to look out for Nifty is 15,600 as support and 15,860 as resistance. Traders are advised to book profit at every rise and exit all longs if 15,600 is broken. Fresh longs should be considered only if Nifty closes above 16000 levels, said Gaurav Udani, CEO & Founder, ThincRedBlu Securities.
Tata Steel arm signs MoU with Jindal Stainless for utilising chrome ore in Sukinda
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Both the companies would now initiate steps to get necessary statutory approvals from concerned authorities before jointly starting mining operations.
AFP
Tata Steel s mining company, Tata Steel Mining Limited (TSML) and
Jindal Stainless Limited (JSL) signed a memorandum of understanding (MoU) to jointly utilise chrome ore locked up in the boundary between their mines located in Sukinda of Jajpur district, Odisha.
“This is a very unique collaboration where JSL & TSML will derive maximum value from a joint mining effort. This effort will enhance the availability of ore in the region without any adverse environmental impact, as it s an already explored area, said Abhyuday Jindal, Managing Director, Jindal Stainless Limited.
Here are the top stocks that are likely to be in focus today:
Earnings today: A total of 33 companies are set to report their Q1FY22 results today including Asian Paints, Bajaj Finance, Network 18 Media, and Shyam Metaliks. While the Street is a 90 per cent jump in Asian Paint s revenues at Rs 5,550 crore, they peg EBITDA at Rs 1,105 crore, up 130 per cent, on a low base. As regards Bajaj Finance, analysts expect the NBFC s net profit to rise anywhere between 30-90 per cent YoY, in the range of Rs 1,250-1,850 crore.
HCL Technologies: The company s first-quarter numbers were propelled by cloud and digital transformation deals. Net profit for the quarter at Rs 3,214 crore was up 9.9 per cent year-on-year and 8.5 per cent sequentially. Although, it did not meet the consensus estimate of analysts tracked by Bloomberg at Rs 3,425 crore. Further, Shiv Nadar has stepped down as the managing director and board member of HCL Technologies. He will now take on the role of Chairman Emeritus
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