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With retail inflation declining to 4.87 per cent for April as against 5.25 per cent in the previous month, banking and rate-sensitive stocks may see some buying interest. Analysts were expecting inflation to soften to 5.04 per cent. The further easing of inflation may trigger hopes for a rate cut by the RBI even before the scheduled Monetary Policy meet on June 2, as industrial production grew at a five-month low of 2.1 per cent in March.
Lupin, Pantaloon results on Wednesday
Wednesday will see a host of companies including Lupin, Aditya Birla Chemicals, Adani Enterprises, JSW Holdings, Aarti Industries, Pantaloons Fashion & Retail, Hinduja Foundries, Dalmia Bharat, Sanghi Industries, ITD Cementation, Capital First, Emami, GKW, Deepak Nitrite, Automotive Axles, Ashoka Buildcon, Andhra Cements, Pennar Industries, TT Ltd and Advani Hotels disclose their quarter and full-year numbers.
ICICI Bank cuts stake in 3i Infotech
Shares of 3i Infotech may remain on the radar as ICICI Bank offloaded 90.89 lakh shares through bulk deals on the NSE. However, buyers’ names were not known immediately. At the end of March 31, ICICI Bank had held 11.29 crore shares of 3i Infotech. ICICI Bank had earlier indicated its plan to exit from 3i Infotech; a few years back it was widely reported that IBM was in talks with the ICICI Group to buy its stake in 3i Info.
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