Buzzing Stocks today: Punjab National Bank’s result has come out brilliantly. Apart from this, he is now preparing to take his money by selling Vijay Mallya’s property worth 5600 crores.
PNB is preparing to sell Mallya’s assets worth Rs 5600 crore and take his money.
Last week, stock market investors earned Rs 6 lakh crore. The Sensex gained 1.31 per cent. The confidence of foreign investors has also returned amidst the decrease in the cases of corona and the increase in the vaccination program. In the first week of June, Foreign Portfolio Investors have put 8000 crores in the Indian stock market.
Market experts say that the trend of infection, the pace of vaccination and global factors will decide the direction of the stock markets this week. Apart from this, there is no such development on the domestic front, so that the market can take direction. Quarterly results of big companies like Bata India, GAIL, SAIL, BHEL and DLF are to come during the week. Today, on the first day of the week, you know about which stocks you should keep an eye on.
Great performance from IRIS Business Services
Fund manager Porinju V Veliyath has bought 1.24 lakh shares of IRIS Business Services at the rate of Rs 102.40 per share. For the last seven weeks, this stock has been closing steadily. Last week it is at a 52-week high of Rs 102.40. This stock has given returns of 14 per cent in one week, 133 per cent in one month, 170 per cent in three months and 661 per cent in one year.
Keep an eye on PNB Share
Punjab National Bank has made a profit of 586 crores in the March quarter. Last year the company had a loss of 697 crores. The bank had a profit of 506 crores in the December quarter. Apart from this, the bank has decided to sell the bad loan of 8000 crores to the bad bank. Punjab National Bank Managing Director Mallikarjuna Rao said that the order has been received from the PMLA court to sell Vijay Mallya’s assets worth Rs 5600 crore. With these positive news, there is every possibility of a jump in the stock.
Signs of bullishness in these stocks
Adani Power, Tata Motors, United Breweries, Amara Raja Batteries are looking bullish on the basis of Technical Indicator MACD. These stocks are likely to rise. On Friday, there was a tremendous performance in the share volume of Vodafone Idea, Suzlon Energy, Yes Bank, Reliance Power, Punjab National Bank, Bank of Maharashtra, Indian Overseas Bank, India Bulls Housing Finance.
IndusInd Bank Share
Here Bank of America Merrill Lynch has bought 36 lakh shares of IndusInd Bank at Rs 1006 per share. Last week, the stock closed at Rs 1009 level.
Buyers dominate Adani Enterprises Share
Adani Enterprises, Asian Paints, Bajaj Finance, Indiabullis Housing Finance, Bharat Forge, Bank of Maharashtra, PNB Housing and Jubilant Ingrevia are among the buyers and these stocks are trading at their 52-week high.
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(Disclaimer: Please consult your financial experts before investing in the stock market.