Bharti Airtel, Nykaa, Hindalco, BPCL, Tata Power, IDBI Bank, Policybazaar, JSW Steel stocks in focus

Bharti Airtel, Nykaa, Hindalco, BPCL, Tata Power, IDBI Bank, Policybazaar, JSW Steel stocks in focus

Indian equity markets are likely to open gap-up on Friday amid strong global cues. Nifty futures were trading 82.5 points, or 0.51% higher at 16,258.50 on the Singapore Exchange, signaling that Dalal Street was headed for a positive start. In the previous session, benchmark BSE Sensex ended 503.27 points, or 0.94%, higher at 54,252.53 and NSE Nifty 50 closed 144.40 points, or 0.90% up at 16,170.20. “Market witnessed a relief rally after 3 days of correction with Nifty ending the session near day’s high. Also short covering on monthly FNO expiry helped market to recover. Nifty now needs to hold above 16061 zones for an up move towards 16400 and 16500 level,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.Stocks in focus on 27 May, Friday

Bharti Airtel: Moody’s Investors Service has upgraded Bharti Airtel by assigning a ‘Baa3’ issuer rating, on the back of the Sunil Mittal-led telco’s strong operational metrics and stable financial profile. Industry experts said the Moody’s ratings upgrade is significant as it makes “Airtel an investment-grade company,” noting that a Baa3 is the lowest investment grade and the same as an India sovereign rating. Moody’s has also changed the outlook on Airtel’s ratings to ‘stable’ from ‘positive’.

BPCL: The Centre on Thursday called off the process for the strategic disinvestment of BPCL and said the expressions of interest (EoIs) received in this connection “shall stand cancelled.” The plan to sell its entire 52.98% stake in the fuel retailer-cum-refiner had hit dead-end as potential investors have turned more sceptical of “the lack of pricing freedom” with state-owned fuel retailers, besides the global shift for greener energy. Two bidders even walked out from the privatisation process.

IDBI Bank: The board of IDBI Bank has approved an annual general meeting (AGM) to raise funds through the equity route. Shareholders will approve the fund-raising in the AGM. “…the board of directors of IDBI Bank at its meeting held on Thursday has approved the notice convening the 18th annual general meeting of the bank which included passing an enabling special resolution for issue of equity capital through various modes,” the lender said in an exchange filing.

Tata Power: Tata Power Renewable commissioned 100 megawatt (MW) project for MSEDCL in Partur, Maharashtra. The installation comprises over 4,11,900 monocrystalline photovoltaic modules and is expected to reduce around 234 million tonnes of CO2 annually. With this addition of 100 MW, the renewables capacity in operation for Tata Power now stands at 3,620 MW with 2,688 MW of solar and 932 MW of wind. Tata Power’s total renewable capacity is 4,920 MW including 1,300 MW of renewable projects in various stages of implementation.

Q4 Results today: JSW Steel, FSN E-Commerce Ventures (Nykaa), Jubilant Pharma, Jubilant Industries, Aarti industries, GAIL, Glenmark Pharma, Godrej Industries, India Cements, PB Fintech (Policy Bazaar), Ruchi Soya, Ion Exchange, Info Edge India, JP Power, Aegis Logistics, Akzo Nobel India, Apar Industries, Arvind Fashions, Astral Pipes, Atul Auto, Balmar Lawrie, BEML, Crompton Greaves Consumer Electricals, City Union Bank, Edelweiss Financial Services, Engineers India, ESAB India, Everest Industries, Exxaro Tiles, Future Consumer, Force Motors, Heritage Foods, HT Media, Inox Wind, IRCON International, Kalyani Forge, Karnataka Bank, Lemon Tree Hotels, Man Industries, Oil India Ltd, Ramky Infrastructure, Sun TV, Tarsons Products, TCNS Brands, United Spirits, VRL Logistics, Wabag.