DSIJ Mindshare

The Indian markets return after a trading holiday on Wednesday and will try to match up with a fall in oil price. Apart from this, the GST collections reached a record high monthly collection in the month of April since the launch of the GST in July 2017. Also, Indian’s infrastructure output finally showed some improvement for March at 4.7 per cent, which will also work in favour of the Indian markets. However, an early indication from the SGX Nifty indicates that the Nifty may not cheer these positive data inflow as Nifty may open on a cautious note around 11,788 level.

Leading dredging company Mercator has sold its very large crude carrier Nerissa (VLCC), which was built in 2006, for a total net consideration of USD 27.5 million. The company said that the proceeds from this sale will be utilised to bring down its debt and other liabilities.

The stock of JSW Steel Limited gave a consolidation breakout on the daily time frame along with robust volumes.

ICICI Prudential Life Insurance Company was picked by our Bollinger Band squeeze scanner which suggests that the stock is near a consolidation breakout.

For the last quarter of FY19, the Godrej Properties reported strong set of numbers across the board. The company’s consolidated total income for the quarter jumped more than 130 per cent yoy to Rs. 1,200 crore.