Stocks in focus: Easy Trip Planners, RIL, Future Retail, Adani Green Energy, Airtel, Vodafone, Bajaj-Auto

Nifty futures were trading over 100 points or 0.72 per cent lower at 14,491 on Singaporean Exchange, indicating a negative opening for BSE Sensex and Nifty 50 on Friday. In the previous session, the 30-share Sensex closed just above 49,200 while the 50-stock NSE Nifty ended down 1.11 per cent at 14,557. According to a technical analyst, the Nifty 50 index still maintain lower high and lower low series which suggest medium term weakness. “However, on intraday charts the index is into the oversold zone and expected to trade near 50 day SMA for the next few trading sessions at 14750/49963 levels that would be sacrosanct level. Trading below the same, correction wave is likely to continue till 14450-14460/48890-48700,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.

Stocks in focus today:

Easy Trip Planners: The online travel agency company will make stock market debut on Friday. The Rs 510-crore public issue was subscribed a massive 160 times and was sold in the price band of Rs 186-187 per share.

Kishore Biyani and his company Future Retail suffered a setback on Thursday with the single judge of the Delhi High Court, justice JR Midha, holding them guilty for violating the February 2 order, which had directed that status quo be maintained on the Group’s Rs 24,713-crore deal with Reliance Industries Ltd’s Reliance Retail.

Adani Green Energy has raised $1.35 billion in foreign loans from 12 international banks to finance 1.69 GW under-construction hybrid (wind+solar) renewable projects in Rajasthan. The facility that is claimed to be India’s first hybrid project loan will help the company move closer to its vision of 25 GW capacity by 2025.

Bharti Airtel, Vodafone Idea, RIL: Reliance Jio, Bharti Airtel and Vodafone Idea have made upfront payments to the telecom department for the spectrum they acquired in the recently-held auctions, PTI cited industry sources as saying on Thursday. The telecom department had issued demand notes to the three operators on March 8, and the deadline for making the upfront payment was Thursday.

Bajaj Auto amended its dividend distribution policy and said it would arrive at its dividend payout ratio based on the surplus funds available with the company and that it would pay a percentage of profits after tax on the company’s standalone financials.