Stock market news that you should not miss today May 6

  • Markets to open on a positive note; support @14,500, resistance at 14,850.
  • FIIs sold shares worth Rs1110.5cr (cash), sold Rs240.61cr in index futures.
  • US markets closed higher. Asian Markets opened in the green.
  • Brent crude was 0.10% higher at $69.03 per barrel.
  • Cipla: Roche receives Emergency Use Authorisation in India for its investigational Antibody Cocktail (Casirivimab and Imdevimab) used in the treatment of Covid-19.
  • Wipro Partners with Transcell Oncologics to Transform Vaccine Safety Assessment.
  • Tata Steel posted a consolidated profit of Rs6,644.1cr for Q4FY21 against a loss of Rs1,481.3cr in the year-ago period. Consolidated revenue increased to Rs49,977.4cr from Rs36,009.4cr in Q4FY20.
  • Adani Green Energy reported a consolidated profit of Rs104cr for Q4FY21 against Rs56cr reported in Q4FY20, revenue rose to Rs986cr from Rs696cr in the year-ago period.
  • Hero Motocorp, Adani Power, Adani Transmission etc. will announce their quarterly financial results on Thursday.
  • IDBI Bank: Cabinet Committee on Economic Affairs has given its in-principle approval for strategic disinvestment along with transfer of management control in IDBI Bank. LIC may reduce its shareholding in IDBI Bank through divesting its stake along with strategic stake sale envisaged by the government, said the bank.
  • Gillette India: The Board of Directors of the Company at its Meeting held on May 5, 2021, have declared a Special Interim dividend of Rs50.00 per equity share of face value of Rs10 each for Company’s financial year 2020-21.
  • JM Financial: While approving the financial results for the fourth quarter and financial year ended March 31, 2021, the Board of Directors of JM Financial Limited has recommended a dividend of Re0.50 per share of the face value of Re1/- each.
  • Quess Corp, India’s leading business services platform and largest employer in the private sector, has declared an Interim Dividend of Rs7 per share for the Financial Year 2021.
  • Maharashtra Seamless: ONGC has issued the letter of award to Jindal Drilling & Industries for deployment of Jack-up drilling rig ‘Jindal Explorer’ owned by Maharashtra Seamless on charter hire contract for a period of 3 years.
  • Praj Industries: HDFC Mutual Fund sold 4,34,583 equity shares (0.24%) in Praj Industries via open market transaction on May 3, reducing shareholding to 6.51% from 6.75% earlier.