Bharti Airtel, Coal India, Jubilant FoodWorks, Reliance Power, PNB Housing, Adani group stocks in focus

Market participants will watch monsoon, opening up of the economy in a graded manner and the pace of vaccination for direction of domestic markets. Image: Reuters

Nifty futures were trading 15.50 points or 0.10 per cent down at 15,820 on Singaporean Exchange in early trade. SGX Nifty trends signaled a weak start for BSE Sensex and Nifty 50 on Tuesday. After the Nifty posted record-high closing, analysts expect Nifty to remain in a positive set up and can see a move towards highs of 16000 zones. Market participants will watch monsoon, opening up of the economy in a graded manner and the pace of vaccination for further direction for domestic markets. The upcoming US Fed meeting will also be in focus.

Stocks in focus

BSE-listed companies such as LIC Housing Finance, Easy Trip Planners, Entertainment Network (India), Jubilant FoodWorks, Power Finance Corporation, Flexituff Ventures International, India Home Loan, JMD Ventures, BLS International Services, Centum Electronics, Lemon Tree Hotels, Manaksia, Salzer Electronics, Spencers Retail, and Whirlpool of India, will announce their January-March quarter earnings on June 15.

Adani group stocks: Responding to the reports, Adani Group in an exchange filing said, “We regret to mention that these reports are blatantly erroneous and is done to deliberately mislead the investing community.” On Monday morning, Adani Group shares fell after reports surfaced that National Securities Depository Limited (NSDL) froze three accounts of Foreign Portfolio Investors (FPI) that owned a significant stake in Adani Group Companies.

Even as some telecom operators and technology players slug out over satellite communication spectrum – whether it should be auctioned or allocated administratively – Bharti Enterprises-led OneWeb has applied for a global mobile personal communication system (GMPCS) licence for providing satellite broadband services.

Coal India’s net profit fell above 32% at Rs 7,640 crore on a total income of Rs 93,818 crore in FY21. The PSU coal miner had booked a net profit of Rs 11,280 crore on a total income of Rs 1,02,525 crore in FY20.

Shriram Transport Finance Company has raised Rs 1,998.98 crore through qualified institutions placement (QIP) of equity shares. The company, which had launched its QIP on June 7, 2021, received 6.3x oversubscription.