Info Edge, Yes Bank, HDFC Bank, Federal Bank, Maruti Suzuki, Vodafone Idea actions in brief

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

Nifty futures were trading 44.50 points or 0.28% lower at 15,819 on the Singapore Stock Exchange, indicating a downward opening for BSE Sensex and Nifty 50 on Tuesday. During the previous session, the leading indices rose for the second day in a row. BSE Sensex finished higher at 52,880 while the NSE Nifty 50 ended the day at 15,834. The Nifty 50 Index closed near the intraday high on Monday. “This, along with a positive downside ratio, means additional upside potential in the short term. 15870-15915 could be the next resistance for the Nifty while 15777 could be support. The expansion in volume, if it occurs soon, will help keep the increase going, ”said Deepak Jasani, head of retail research, HDFC Securities.

Focus on actions

Information edge: Info Edge has reduced the size of its Selling Offer (OFS) as part of Zomato’s upcoming Initial Public Offering (IPO) to Rs 375 crore from Rs 750 crore expected earlier, according to a regulatory filing with ESB. On Monday, the capital markets regulator Securities and Exchange Board of India (Sebi) officially approved Zomato’s IPO offer.

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Yes Bank: Yes, Bank loans and advances slightly decreased by 0.4% to Rs 1.63 lakh crore at the end of June 30, 2021. Loans and advances amounted to Rs 1,63.914 crore as of June 30 2021 vs. Rs.164,510 crore in the period last year, registering a marginal decline of 0.4% year-on-year.

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

HDFC Bank: HDFC Bank reported 14% year-over-year growth in its loan portfolio in the quarter ended June 30, 2021. On a sequential basis, the loan portfolio grew 1.3%.

Federal Bank: Federal Bank deposits grew 9 percent year-on-year in the first quarter of the current fiscal year, while gross advances grew 8 percent year-on-year. The Kerala-based lender said that at the end of the June 2021 quarter, total deposits stood at Rs 169,393 crore compared to Rs 155,938 crore during the period last year.

Coal from India: Coal India Ltd (CIL) on Monday announced that a rake consisting of around 4,000 tonnes of coal had left for Bangladesh last week, the first after the state-owned company authorized exports of its dry fuel purchased by domestic buyers in electronic auction windows last month.

Vodafone idea: The Department of Telecommunications (DoT) will seek the opinion of the Ministry of Finance on the possibility of extending by one year the two-year moratorium granted to telecommunications operators on the payment of a deferred spectrum slice.

NTPC: Even though the Central Electricity Regulatory Commission (CERC) allowed BSES to withdraw from a power purchase agreement (PPA) with NTPC’s Dadri-I thermal power plant, which resulted in other discoms in the country hope that they could also get out of costly PPAs with the state. A managed producer, the Union Ministry of Electricity can come to the aid of the CPSE.

Home financing of the IIFR: IIFL Home Finance aims to raise around Rs 7,000 crore in the current fiscal year, CEO Monu Ratra told FE. Fundraising will be through NCD issues, bank term loans, direct portfolio allocation and funding from the National Housing Bank (NHB), among others.

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