India, an agricultural country, can turn out to be the feast capital of the world for locust swarms. It may deaccelerate one of the only few bright spots in the Indian economy.

If Nifty moves above Friday’s high of 9,598.85 mark, it would attempt to fill the gap of May 4. While on the downside, an immediate support is seen around 9,330-9,300 mark. Stocks in news: Lemon Tree, NLC India, Dr Reddy’s Laboratories, Yes Bank, Kalpataru Power Transmission.

Today the Indian markets would be greeted as a host of news were out on Friday. The key economic data was released when market had shut its doors for a weekend holiday. India’s Q4 GDP growth was a depressing at 3.1 per cent despite only a couple of weeks of lockdown in March 2020 and as a result the FY 2019-20 GDP was hauled to lowest since the financial crisis at 4.2 per cent.

The stock of HIL Limited has given a symmetrical triangle breakout on the daily timeframe. This breakout was confirmed by the above 50-day average volume.

Therefore, the demerger of Max India will result in two listed companies, one created by the merger of Max Healthcare & Radiant Life Care, and the other by the merging of Max Bupa, Antara Living and Advaita.

Noida-based HCL Technologies (HCL) announced that it intends to acquire Cisco’s self-optimising network (SON) technology in a bid to help the company meet the growing needs of its customers in the telecommunication industry as the technology has become a major component in a move towards 5G networks.

Retail banking company, Yes Bank Limited, announced that it has acquired 24.19 per cent shares in Dish TV via pledged shares.

Air conditioning company, Blue Star Limited, announced that its board has approved the plan of raising Rs 300 crore via non-convertible debentures (NCDs).

Hyderabad-based software company, Raminfo Limited, informed that it has received a letter of award (LoA) from Andhra Pradesh State Agros Industries Development Corporation Limited, a government undertaking.

Considering the daily timeframe, the stock of DLF Limited has given a downward sloping trendline breakout, formed by connecting swing highs from March 2020. The breakout was supported by robust volumes.