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Market Analysis
Indian Indexes trade on a positive note. Sensex trades at 52107 levels and Nifty gains 30 points and trades around 15700 levels.
Companies coming out with quarterly results today are Union Bank of India, Central Bank of India, Food Specialties, FirmChem Organics, MRF and NewIndia Assurance Company.
Indian Shares ended lower on Friday as the Reserve Bank of India kept its interest rate unchanged, assured ample liquidity and pledged to continue with its accommodative stance as long as necessary, as widely expected. Rate sensitive banks and financials succumbed to selling pressure as the central bank lowered its estimate for economic growth to 9.5 percent for FY22 from earlier projection of 10.5%. The Nifty Index ended down 20.10 points at 15670.25.
Shares in News Today
Dr.Reddy’s Laboratories Drug major is recalling 2980 bottles of Atorvastatin calcium tablets in the US due to quality issues. Atorvastatin is indicated to lower cholesterol in blood for adults and children over 10 years of age.
Reliance Infrastructure Limited (RInfra) would be raising Rs 550 crore through preferential issue, the Anil Ambani backed company announced on june 6th. At the Board of Directors, the proposal of preferential allotment of equity shares to promoters and Varde Investment Partners, at a price of Rs 62 each based on SEBI (ICDR) regulations was approved.
Punjab National Bank (PNB) posted a standalone profit of Rs 586 crore for the fourth quarter ended March, Aided by Good Increase in Interest Income.
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NBFC,Auto, Infra,Metal, Power and OIL