Infosys, Mahindra & Mahindra, Sun Pharma, Eicher Motors, IPCA Lab, UCO Bank stocks in focus

Investors will keep tabs on last leg of corporate results for stock-specific action, ongoing COVID-19 vaccination pace, oil prices, rupee movement and other global cues.

Nifty futures were trading 51.50 points or 0.33 per cent higher at 15,465.50 on Singaporean Exchange in early trade on Friday. This signals a positive opening for BSE Sensex and Nifty 50 on the last day of the week. Today, 43rd GST Council meet will remain in focus, which will be headed by Union Finance Minister Nirmala Sitharaman via video conferencing. Investors will keep tabs on the last leg of corporate results for stock-specific action, ongoing COVID-19 vaccination pace, oil prices, rupee movement, and other global cues. “Technically Nifty is poised towards an up move to lifetime high of 15431 and 15500 zones while on the downside support exists at 15200- 15150 zones Hopes of further stimulus by the government is bolstering investor confidence,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.

Stocks in focus 28 May 2021

M&M, Glenmark Pharma: A total of 96 companies including Mahindra & Mahindra, IPCA Laboratories, Max Healthcare Institute, Aditya Birla Fashion and Retail, Glenmark Pharmaceuticals, Central Bank of India, Indian Bank, Sumitomo Chemical, GMM Pfaudler, Hinduja Global Solutions, and Ujjivan Financial Services, will announce their January-March quarter earnings on May 28.

Infosys: Infosys co-founder S D Shibulal on Thursday picked shares worth Rs 100 crore of the firm through an open market transaction. Shibulal purchased more than 7.22 lakh scrips at an average price of Rs 1,384 per share, BSE block deal data showed. The total transaction value stood at Rs 100 crore.

UCO Bank: UCO Bank on Thursday reported a nearly five-fold year-on-year jump in its net profit to Rs 80.03 crore for the fourth quarter of FY21, from Rs 16.78 crore in the same period previous fiscal, as its operating profit grew 26% y-o-y.

Sun Pharma: Drug major Sun Pharmaceutical Industries on Thursday reported an over two-fold jump in consolidated net profit to Rs 894.15 crore for the quarter ended March 2021, mainly on account of robust performance in the Indian market.

Eicher Motors: Eicher Motors reported a 73 per cent jump in consolidated PAT at Rs 526.14 crore in January-March quarter of FY21. The company had posted a consolidated profit of Rs 304.28 crore in the fourth quarter of the previous fiscal.

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