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Info Edge, Yes Bank, HDFC Bank, Federal Bank, Maruti Suzuki, Vodafone Idea stocks in focus

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15870-15915 could be the next resistance for the Nifty while 15777 could be a support, an analyst said.

Nifty futures were trading 44.50 points or 0.28 per cent lower at 15,819 on Singaporean Exchange, indicating a gap-down opening for BSE Sensex and Nifty 50 on Tuesday. In the previous session, headline indices gained for the second straight day. BSE Sensex ended higher at 52,880 while the NSE Nifty 50 finished the day’s trade at 15,834. Nifty 50 index closed near the intra-day high on Monday. “This along with a positive advance decline ratio means some more upside potential in the near term. 15870-15915 could be the next resistance for the Nifty while 15777 could be a support. Volume expansion, if it happens soon, will help in sustaining the upmove,” said Deepak Jasani, Head of Retail Research, HDFC Securities.

Stocks in focus

Info Edge: Info Edge has reduced the size of its offer for sale (OFS) in the upcoming initial public offering (IPO) of Zomato to Rs 375 crore from Rs 750 crore planned earlier, according to a regulatory filing to BSE. On Monday, capital markets regulator Securities and Exchange Board of India (Sebi) officially approved Zomato’s IPO offer.

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Yes Bank: Yes Bank’s loans and advances fell by a marginal 0.4 per cent to Rs 1.63 lakh crore by the end of June 30, 2021. The loans and advances stood at Rs 1,63,914 crore as of June 30, 2021 as compared with Rs 1,64,510 crore in the year-ago period, registering a marginal decline of 0.4 per cent on a year-on-year basis.

Maruti Suzuki: Maruti Suzuki India produced 1.65 lakh units in June 2021, against 50,742 units in June 2020. The company had produced a total of 40,924 units in May this year.

HDFC Bank: HDFC Bank has reported a 14 per cent on-year growth in loan book during the three months ended 30 June 2021. On a sequential basis, the loan book grew by 1.3 per cent.

Federal Bank: Deposits of Federal Bank grew 9 per cent on-year during the first quarter of the current fiscal, while gross advances reported an 8 per cent on-year growth. The Kerala-based lender said at the end of the June 2021 quarter, total deposits stood at Rs 169,393 crore as against Rs 155,938 crore in the year-ago period.

Coal India: Coal India Ltd (CIL) on Monday said a rake consisting of around 4,000 tonnes of coal left for Bangladesh last week, the first after the state-owned company allowed exports of its dry fuel procured by domestic buyers under e-auction windows last month.

Vodafone Idea: The department of telecommunications (DoT) will seek the finance ministry’s views on whether the two-year moratorium granted to telecom operators on payment of deferred spectrum instalment can be extended by another year.

NTPC: Even though the Central Electricity Regulatory Commission (CERC) has allowed BSES to walk out of a power purchase agreement (PPA) with NTPC’s Dadri-I thermal plant, giving other discoms in the country hope that they could also exit costly PPAs with the state-run producer, the Union power ministry may come to the aid of the CPSE.

IIFL Home Finance: IIFL Home Finance aims to raise around Rs 7,000 crore during the current financial year, CEO Monu Ratra told FE. The fund-raising will done via NCD issues, bank term loans, direct assignment of portfolios and financing from National Housing Bank (NHB), among others.

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