Going ahead, we expect Nifty to advance to the level of 10,665-10,674 and it may face resistance around this level as it is a confluence of 21-day SMA and 50 per cent retracement level of the recent downmove. Stocks in news: Welspun Enterprises, ITDC, Torrent Pharma, UBL, Dr Reddy’s Laboratories, Himatsingka Seide, Dilip Buildcon, MEP Infrastructure Developers, IDBI Bank, Punj Lloyd and Cadila Healthcare.

Indian markets are likely to make mildly positive start as Asian peers are lacking clear direction. The trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty may open with modest gains of 8 points around the level of 10,647.  

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Swelect Energy Systems standalone revenue for the quarter came in at Rs. 45.98 crore, registering 41.6 per cent yoy decline.

Looking at the full year numbers, we see that the revenue declined by 2 per cent to reach Rs 1043.04 crore, while the EBITDA fell by 2 per cent to Rs 162.21 crore.

The share price of IFCI jumped sharply by over 12 per cent on the bourses in Friday’s trading after the company received Rs 280 crore from the resolution of Bhushan Steel.