EQUITIES news

Stocks in focus: HCL Tech, Britannia, GAIL, Oil India, IndiGo, SpiceJet, SBI Cards, Marico, PTC India

hcl, britannia, stocks in focusThe market continues to remain cautious given flaring US-China trade relations, a persistent rise in virus cases and implementation of fresh lockdowns

Nifty Futures were trading 80.35 points or 0.75 per cent higher at 10,778 on Singaporean Exchange, indicating a gap-up opening for BSE Sensex and Nifty 50 on Friday. Global cues, over one million coronavirus cases in India, ICRA’s revised forecast for the contraction in Indian GDP in FY2021, will sway the investor sentiment. Along with these, stock-specific developments, movement in oil prices and rupee will be keenly watched by market participants. “The market continues to remain cautious given flaring US-China trade relations, a persistent rise in virus cases and implementation of fresh lockdowns. Though the initial success reports in COVID vaccines has brought in some cheer, the ongoing earnings season and management commentary is likely to keep the markets volatile. We would advise traders to stay stock-specific, while investors should be more defensive in their portfolio approach,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus today:

HCL Tech, Britannia Industries: ICICI Lombard, Coffee Day Enterprises, Granules India, Hathway Cable, HCL Technologies, Britannia Industries are among 32 companies that scheduled to announce their quarterly earnings later in the day today.

GAIL, OIL: The Department of Telecommunications (DoT) has withdrawn a demand of over Rs 2.3 lakh crore it had made on state-owned gas utility