CarTrade Tech, RIL, ONGC, Vodafone Idea, Tata Steel, Clean Science, Dabur India stocks in focus

CarTrade Tech, RIL, ONGC, Vodafone Idea, Tata Steel, Clean Science, Dabur stocks in focusAnalysts say in the near future, the benchmark index may consolidate between 16420 to 16700 levels

Nifty futures were trading 26 points or 0.16 per cent up at 16,365 on Singaporean Exchange, suggesting a positive start for BSE Sensex and Nifty 50 on Friday. In the previous session, BSE Sensex fell 163 points from to end at 55,629, even after hitting a new record high of 56,118. While Nifty 50 index gave up 16,600 levels, despite surging to 16,701.85, a fresh all-time high. “After a long time on daily charts, Nifty has formed a bearish candle and intraday charts are also indicating a further weakness from current levels. In the near future, the benchmark index may consolidate between 16420 to 16700 levels,” Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities, said.

Stocks to watch

CarTrade Tech: CarTrade Tech IPO shares are all set for stock market debut on 20 August 2021. CarTrade Tech’s IPO was subscribed 20.29 times by investors. Analysts see up to 20 per cent listing gain for CarTrade Tech today.

Repco Home Finance: Repco Home Finance has registered a 49.8% decline in its net profit at Rs 32.1 crore for the first quarter of FY22 as against Rs 64 crore in the corresponding quarter last fiscal. Total income of the Chennai-based company stood lower at Rs 322.4 crore as against Rs 341.9 crore.

ONGC: To increase recovery from its 43 producing fields across Gujarat, Assam, Tamil Nadu and Andhra Pradesh, state-run oil and gas producer ONGC on Thursday invited offers seeking partners to enhance production from its marginal nomination fields.

Dabur India: Home-grown FMCG major Dabur India is looking at the future with “great optimism” but challenges from the pandemic are far from over, its Vice Chairman Mohit Burman said, adding the company is better prepared to deal with any eventuality.

Vodafone Idea: Vodafone Idea Ltd (VIL) on Thursday said it has paid licence fee dues for the first quarter of 2021-22. The comment came amid a report that the troubled telco — which is struggling to stay afloat — fell Rs 150 crore short on payment of licence fee for the June quarter. “VIL has paid its licence fee dues for first quarter 2021-22,” a VIL spokesperson said in response to an email query by PTI.

Tata Steel: Private steel major Tata Steel will pay a total of Rs 270.28 crore as annual bonus for the accounting year 2020-2021 to its eligible employees of all applicable division units of the company, a release said.

Clean Science and Technology: Plutus Wealth Management LLP lapped up 5.75 lakh equity shares of the Clean Science and Technology at Rs 1,518.42 per share on the NSE.

Reliance Industries Ltd: RIL has taken shutdown of its manufacturing units at Nagothane, Maharashtra to assure reliability and integrity of operations. Product supplies to customers will continue through available stocks and diverting from other manufacturing sites. Complex is expected to be back into normal operation from August 25, 2021

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