RIL, ICICI Bank, GAIL, Crompton Greaves, SAIL, Parle, Mazagon Dock, JM Financial stocks in focus

Nifty futures were trading 50 points or 0.33 per cent up at 15,723.50 on Singaporean Exchange, suggesting a gap-up start for BSE Sensex and Nifty 50 on Thursday, a day of weekly expiry. In the previous session, the 30-share Sensex, closed at 51,941, while the Nifty ended down at 15,635, after having reached an all-time high of 15,800 in intraday deals. The Nifty formed an engulfing top like pattern on daily charts after making a triple top like formation over the last three days in the 15773-15800 band. “Whether Nifty will show follow-through weakness in the days to come will be keenly watched. 15567-15680 is the band for the Nifty in the near term,” said Deepak Jasani, Head of Retail Research, HDFC Securities.

Stocks in focus

SAIL, Mazagon Dock Shipbuilders: Steel Authority of India (SAIL), NHPC, Century Plyboards (India), Parle Industries, Cera Sanitaryware, Mazagon Dock Shipbuilders, eClerx Services, Responsive Industries, Tide Water Oil Company, National Fertilisers and Mayur Uniquoters, among others will announce January-March quarter earnings on June 10.

JM Financial: JM Financial Private Equity has invested Rs 35 crore in Pune-based consumer packaged food company Walko Food to fund the company’s expansion plans. This marks the closing of the eighth investment by JM Financial India Fund II. The investment was in line with its strategy of investing in growth companies in the mid-market space.

Reliance Industries Ltd: Private equity investments in Indian companies grew 38 per cent to USD 62.2 billion last year, with inflows into Reliance Industries’ telecom and retail ventures contributing nearly 40 per cent of the total value of the deals, a report said on Wednesday.

GAIL: GAIL net profit fell 35.4% on-year to Rs 6,142.8 crore on a consolidated basis in the fiscal ended March, as the natural gas marketing business — GAIL’s largest revenue earner — reported a loss of Rs 435.4 crore against a profit of Rs 2,639 crore in the corresponding period a year ago.

ICICI Bank: In bulk deals on NSE, ICICI Bank sold 42.23 lakh shares of Den Networks at an average price of Rs 57.34 per share on Wednesday.

Crompton Greaves Consumer: SBI Mutual Fund bought 1.24 crore shares of Crompton Greaves Consumer Electricals at an average price of Rs 400.4 per share in a bulk deal on BSE on Wednesday.