The data around insurance companies showed that insurance business has grown despite the COVID-19 pandemic. Thus, some buzz around stocks of insurance companies can be expected. The gross direct premium of non-life insurance companies rose 11.4 per cent on a yearly basis to Rs 12,316.50 crore in May 2021, data from Irdai showed.
Other than insurance stocks, stocks that may be buzzing when the markets open are:
Reliance Industries: The company reported that it has shut a secondary unit at its only-for-exports oil refinery at Jamnagar in Gujarat, which may delay shipment of some product cargoes. "The Fluidized Catalytic Cracker Unit (FCCU) in our SEZ refinery at Jamnagar had to be taken for an emergency shutdown on June 6, 2021," the firm said in a filing to stock exchanges.
National Fertilizers Ltd (NFL): It reported a narrowing of consolidated loss at Rs 9.53 crore for March quarter 2020-21.
Steel Authority of India (SAIL): State-run company reported a rise of 90.5 per cent in profit after tax (PAT) from Rs 2,022 crore in FY 2020 to Rs 3,850 crore in FY 2021. In Q4 FY 2021, the company reported PAT of Rs 3,444 crore as against Rs 2,725 crore in Q4 FY 2020, a growth of 26.4 per cent.
NHPC: State-owned hydro power giant reported nearly 80 per cent jump in its consolidated net profit to Rs 464.60 crore for the March 2021 quarter. Its consolidated net profit had stood at Rs 258.83 crore in the quarter ended on March 31, 2020, a BSE filing said.
Tata Consultancy Services (TCS): Tata Sons chairman N Chandrasekaran on Thursday said even though a "hybrid" model will be the new normal in future, India's largest software exporter TCS will ask employees to come to work once the pandemic is over as social interactions are a social necessity. This is against many other IT companies who are considering the ‘Work from Home’ model going forward.
GE T&D India: A leading player in power transmission and distribution posted a net profit of Rs 16.11 crore in the March 2021 quarter. The company had reported a loss of Rs 187.13 crore in the quarter ended on March 31, 2020, a BSE filing said.
