On Friday
heavy selling in key spaces including financials stocks such as hdfc twins kept
both indices in the red throughout the day. Among the blue chip stocks, ongc
was the top gainer rising 4%. Coal india, grasim, divi’s labs, indianoil, sun
pharma, dr reddy’s labs, bpcl, wipro and cipla were other gainers.Hdfc was the
top loser in the nifty pack, falling 4%. Hdfc bank, icici bank, kotak mahindra
bank, asian paints, tata motors, m&m, adani ports and tcs were other stocks
were ended in red.
Reliance
industries numbers today will set the tone for the next week's opening along
with developments on the covid front. Reliance industries is the country's
largest corporate house by market-capitalization, is scheduled to announce
march quarter earnings today. The consolidated revenue is expected to grow in
double digits on a sequential basis, while the profitability may see moderate
growth due to sharp surge in tax expenses. The company is expected to report 6-9% QoQ growth in consolidated supported by all business segments,
including recovery in retail, for the quarter ended march 2021. Reliance
industries share price has gained around 2 percent in the current calendar year
2021, and has rallied 44% in the last one year period, playing
supportive role for the index.
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