RIL, stocks in focus, Bharti airtelIndian stock markets will take cues from global peers along with corporate earnings which would start from next week and keep the markets volatile.

Domestic equity benchmarks BSE Sensex and Nifty 50 were likely to open in the positive territory on Thursday. Trends on SGX Nifty indicated a gap-up start for the benchmarks, as Nifty futures were trading 65.50 points or 0.44 per cent up at 14,929. Indian stock markets will take cues from global peers along with corporate earnings which would start from next week and keep the markets volatile. “Concerns over the fast spreading second wave of Covid in India continues to remain. Overall markets are likely to remain in a consolidative mode for some time awaiting for fresh positive triggers,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus today

RIL: Capital markets regulator SEBI imposed a penalty of Rs 25 crore on Mukesh Ambani, Anil Ambani, other individuals and entities for non-compliance with takeover norms in a Reliance Industries Ltd (RIL) case dating back to 2000. Others penalised by the regulator include Nita Ambani (wife of Mukesh Ambani) and Tina Ambani (wife of Anil Ambani).

Barbeque-Nation Hospitality: Through a buld deal on Wednesday, UTI Mutual Fund lapped up 2.50 lakh shares of newly listed Barbeque-Nation Hospitality at Rs 579.62 apiece. In another bulk deal, Integrated Core Strategies Asia offloaded 4.01 lakh shares of the causal dininig chain at Rs 545.15 per share.

Bharti Airtel: Bharti Airtel has launched an integrated platform for internet of things (IoT) that has the capability to connect and manage billions of devices and applications in a secure manner. The platform will be based on the company’s 5G-ready network with an option to deploy narrow-band IoT, 4G or 2G connectivity using Airtel e-SIM technology.

Tata Power: Tata Power Solar Systems on Wednesday put on stream additional module and cell manufacturing capacity, taking the total capacity to 1,100 megawatts (MW), from 700 MW that existed earlier.

Dixon Technologies: The company has entered into MOU with Bharti Enterprises to form a Joint Venture company in order to apply for Govt of India’s Production Linked Incentive (PLI) Scheme for manufacturing of Telecom and Networking products like modems, routers, set top boxes, IOT devices, etc.

Future Retail: Amazon moved the Supreme Court against the Delhi High Court division bench’s March 22 order that lifted the stay given by a single-judge bench on the Rs 24,713-crore deal Future Retail-Reliance Retail deal.

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