Reliance Home, India Cements, Bharti Airtel, Cadila, Cipla, Panacea Biotec, Alembic Pharma stocks in focus

Market participants will take cues from last leg of quarter earnings, scheduled F&O expiry, trends in COVID-19 cases, vaccination drive and other global development. Image: Reuters

Nifty futures were trading 145 points or 0.95 per cent higher at 15,335 on Singaporean Exchange, suggesting a strong opening for BSE Sensex and Nifty 50 on Tuesday. Market participants will take cues from last leg of quarter earnings, scheduled F&O expiry, trends in COVID-19 cases, vaccination drive and other global development. Besides, oil prices and rupee movement against US dollar will also be monitored by the participants. “The nifty index breached the prior resistance of 15044 levels and sustained above the Falling Trendline as well as the Ichimoku Cloud formation that suggests a bullish strength in the counter. An oscillator Stochastic & MACD also suggested positive crossover on the daily time frame which further added strength in the counter. At present, the Nifty seems to have an immediate resistance at 15,340 and major resistance is intact at 15,450 levels while support is placed at around 15,000,” said Sumeet Bagadia, Executive Director, Choice Broking.

Stocks in focus

BSE listed companies such as Alkem Laboratories, Bayer CropScience, Emami, AIA Engineering, Thermax, Bajaj Electricals, Computer Age Management Services, TTK Prestige, AstraZeneca Pharma India, Vardhman Textiles, Laxmi Organics Industries, LUX Industries, VIP Industries, Transport Corporation of India, Stove Kraft, Ramco Systems, GATI, TVS Srichakra, among others will report their quarterly results on May 25.

Alembic Pharmaceuticals is all set to manufacture Amphotericin-B, a drug used to treat mucormycosis patients, after receiving a licence to do so from the Food & Drug Control Authority (FDCA), Gujarat.

Manappuram Finance, has announced the closing of a US$15 million (Rs 111.15 crore), seven-year commercial loan from US-based WorldBusiness Capital (WBC). The loan availed under India’s ECB norms will enable Asirvad to expand its business of providing small loans to low-income women business owners in rural areas to start and expand their businesses, sources said.

India Cements: India Cements reported a standalone net profit of Rs 71.63 crore for the fourth quarter of FY21, bouncing back from a net loss of Rs 111.07 crore in the corresponding quarter of last fiscal. The company has posted income of Rs 1,461.44 crore as against Rs 1,169.92 crore.

Bharti Airtel on Monday said its network is fully ready for 5G and also announced the deployment of additional spectrum in Karnataka and Tamil Nadu to boost network quality. The company has deployed 11.2 Megahertz (Mhz) additional spectrum in Karnataka and 5 Mhz in Tamil Nadu, both in 1800 Mhz band, popularly known as 2G spectrum.

India’s Cadila Healthcare (CADI.NS) is aiming to triple monthly production of a COVID-19 vaccine candidate to as many as 30 million doses, Reuters cited the company’s managing director as saying, as the country battles a massive wave of infections.

Roche India and Cipla announced that the first batch of the Antibody Cocktail (Casirivimab and Imdevimab) is now available in India while a second batch will be made available by mid-June. In total they can potentially benefit 2 lakh patients as each of the 100,000 packs that will be available in India offers treatment for two patients.

The Russian Direct Investment Fund (RDIF) and Panacea Biotec announced the launch of production of the Russian Sputnik V vaccine against coronavirus. The first batch produced at Panacea Biotec’s facilities at Baddi will be shipped to the Gamaleya Center for quality control.