Abhishek Bansal, Founder Chairman, Abans Group
Gold prices climbed to their highest level in four months as they touched $1,891.25 yesterday, supported by growing US inflationary pressure; however, recovery in the US dollar index capped the gains. Also, US treasury yield rallied after a hawkish tone from Federal Reserve policymakers when they hinted at a possible shift in future policy.
Gold is trading near $1,871 which is sharply higher from the March’21 low of $1,673.30, however prices fell back from a recent high after the dollar index bounced to 90.12 after registering a low of 89.68 yesterday, also US 10 year bond yield recovered, and is sustaining near 1.666 from the recent low of 1.469 registered on May 7th.
Gold prices are likely to face stiff resistance near $1,908-$1,926 however it may find an immediate support level around $1,857-$1,819.
Oil prices were poised for a third day of losses on Thursday after diplomats said progress was made towards a deal to lift sanctions on Iran, which could boost crude supply.
Happiest Minds enters into MSP agreement with CyberArk:
Happiest Minds’ Technologies has today announced entering into a Managed Service Provider (MSP) agreement with CyberArk to deliver end-to-end next-gen Privileged Access Management services to customers across verticals and geographies.
Happiest Minds Technologies was quoting at Rs 747.05, down Rs 12.30, or 1.62 percent on the BSE.
Relaxo Footwears Q4:
Relaxo Footwears has posted 97.2 percent jump in its Q4 net profit at Rs 102.2 crore versus Rs 51.8 crore and revenue was up 38.3% at Rs 747.7 crore versus Rs 540.6 crore, YoY.
Relaxo Footwears touched a 52-week high of Rs 1,085, and was quoting at Rs 1,025, up Rs 13.05, or 1.29 percent on the BSE.
Here are the stocks that are witnessing a huge surge in volumes traded today as compared to their 5-day average traded volume. Click for more
Indian rupee is trading flat at 73.14 per dollar, amid selling seen in the domestic equity market. It opened flat at 73.16 per dollar against Wednesday’s close of 73.16.
HPL Electric share price locked at upper circuit
The comapny has bagged two orders worth over Rs 372 crore for its switchgear, wires and other related accessories for housing projects in the state of Andhra Pradesh,” the company said in the release.
HPL Electric & Power was quoting at Rs 51.75, up Rs 2.45, or 4.97 percent on the BSE.
Infosys COO UB Pravin Rao to Moneycontrol.com: The last few weeks have been difficult for software major Infosys as the second wave of the coronavirus swept through India and impacted some of its employees. But the company is fairly comfortable with the annual growth guidance that it gave for the current financial year and doesn’t see reasons for a rethink, a top executive told Moneycontrol. Read more
Tapan Patel- Senior Analyst (Commodities), HDFC Securities: Crude oil prices traded firm with benchmark NYMEX WTI crude oil prices were trading 0.33% up at $63.56 per barrel for the day. MCX Crude oil June futures were trading flat at Rs. 4667 by noon.
Crude oil prices are expected to trade sideways to down for the day with resistance at $65 and support at $62.50 per barrel. MCX Crude oil June has support at Rs 4590, resistance at Rs 4730.
Unichem Labs share price hits new 52-week high: Unichem Labs received ANDA approval for its Amitriptyline HCl Tablets USP, 10 mg, 25 mg, 50 mg, 75 mg, 100 mg and 150 mg from USFDA to market a generic version of ELAVIL (Amitriptyline Hydrochloride) 10 mg, 25 mg, 50 mg, 75 mg, 100 mg and 150 mg of AstraZeneca Pharmaceuticals LP. The stock was trading at Rs 352.80, up Rs 19.00, or 5.69 percent.
Fortis, NCL, Talbros, Caplin Among 17 Stocks In Which Marquee Investors Raise Stake In March Quarter
Given the expected growth in the broader space, Ashish Dhawan, Rakesh Jhunjhunwala, Ashish Kacholia and Dolly Khanna have started increasing their stakes in key mid-cap, small cap, mini small caps,…