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Markets likely to open flat
May 04, 2021
Fear over continuous rise in Covid cases, extended lockdowns in States likely to cap upside Markets are likely to open marginally down on Tuesday, amidst mixed global cues. Though the positive recovery rate in Covid cases bodes well, economists are still grappling with uncertainty, analysts said. The SGX Nifty is currently hovering around 14,663 (8 00 am IST), which is about 20 points lower as against Nifty May futures that closed at 14,685 on the NSE on Monday.
As Japan market is closed, other Asian markets provide little cues. Overnight, the US markets ended sharply higher with Dow and S&P 500 climbing 0.70 per cent and 0.3 per cent respectively. However, tech-heavy Nasdaq closed 0.5 per cent lower.
ICICI Bank said that the Reserve Bank of India (RBI) has, by an order dated May 03, 2021, imposed a monetary penalty of Rs 3 crore on the bank . This penalty has been imposed under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) of the Banking Regulation Act, 1949 for shifting certain investments from HTM category to AFS category in May 2017.
L&T Technology Services reported 4.5% rise in consolidated net profit to Rs 194.50 crore on 2.8% rise in revenue to Rs 1440.50 crore in Q4 March 2021 (Q4FY21) over Q3 December 2020 (Q3FY20).
Tata Chemicals reported 99.82% drop in consolidated net profit to Rs 11.77 crore on 68.81% slide in total income to Rs 2,710.44 crore in Q4 March 2021 (Q4FY21) over Q4 March 2020 (Q4FY20).
Key benchmark indices are trading with modest gains in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 92.97 points or 0.19% at 48,811.49. The Nifty 50 index was up 24.75 points or 0.17% at 14,658.90. Asian stocks were trading mixed.
The S&P BSE Mid-Cap index was up 0.86%. The S&P BSE Small-Cap index was up 0.84%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1564 shares rose and 470 shares fell. A total of 87 shares were unchanged.
Stocks in news:
ICICI Bank fell 1.33%. ICICI Bank said that the Reserve Bank of India (RBI) has, by an order dated May 03, 2021, imposed a monetary penalty of Rs 3 crore on the bank . This penalty has been imposed under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) of the Banking Regulation Act, 1949 for shifting certain investments from HTM category to AFS category in May 2017.
JSW Renew Energy, SECI sign pact for selling 540 MW green energy
May 03, 2021
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This is the single largest power purchase agreement to be signed by SECI for wind/blended wind category
JSW Renew Energy, a wholly-owned subsidiary of JSW Future Energy, has signed agreement with Solar Energy Corporation of India to sell 540 MW of the overall awarded capacity of 810 MW.
JSW Future Energy had won the wind power project by bidding ₹3 per kwh, sources said.
The pact signed by SECI with JSW Renew Energy is the single largest power purchase agreement to be signed by SECI for wind/blended wind category in the industry and marks the foray of the company in the specific category of green energy generation.