ITC, Infosys, Radico Khaitan, Magma Fincorp, PNB Housing, Aurobindo Pharma stocks in focus

Nifty has successfully achieved the 15600 target and the index is all set to approach its next target of 15900, said an analyst.

Nifty futures were trading 52.50 points or 0.34 per cent higher at 15,632.50 on Singaporean Exchange, suggesting a positive opening for BSE Sensex and Nifty 50 on Tuesday. In the previous session, Sensex ended at 51,937, while Nifty made a record closing high of 15,582.80. Nifty has successfully achieved the 15600 target and the index is all set to approach its next target of 15900, said an analyst. “There could be a pause or bouts of profit booking in the interim but that should be utilized to accumulate long positions for higher targets. As long as the market closes above the 15300 level, the trend remains bullish and opportunities to buy on corrections should be maximized,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

Stocks in focus

ITC, Radico Kaitan: BSE-listed companies such as ITC, Balrampur Chini Mills, Gujarat Gas, Radico Khaitan, Aris International, Divyashakti Granites, Salasar Techno Engineering, Sungold Media and Entertainment, Solitaire Machine Tools, TV Vision, and VR Woodart, among others, are scheduled to release Jan-Mar quarter earnings on June 1.

Infosys co-founder S D Shibulal on Monday bought shares worth nearly Rs 93 crore of the firm through an open market transaction. This is for the fifth time in May when Shibulal has picked up the shares of the IT major through an open market deal. Prior to this, he bought shares worth Rs 100 crore on each of the four occasions in May, according to PTI.

Adar Poonawalla on Monday took over as chairman of Magma Fincorp, a non-banking finance company. This follows the acquisition of controlling stake in Magma thorough an equity infusion of Rs 3,456 crore in May 2021 by Rising Sun Holdings.

PNB Housing Finance board approved a fund-raise of up to Rs 4,000 crore through a preferential allotment of equity shares and warrants. The issue price of Rs 390 per share implies a discount of 25% to Monday’s closing price of Rs 525.65 per share on the BSE.Carlyle Group firm Pluto Investments has agreed to invest up to Rs 3,185 crore, Aditya Puri, through his family investment vehicle Salisbury Investments, will invest Rs 25 crore.

Aurobindo Pharma reported a consolidated net profit of Rs 801.18 crore for the fourth quarter ended March 2021. The company had posted a net profit of Rs 863.16 crore for the corresponding period of the previous fiscal.