Bharti Airtel, IDBI Bank, Infosys, Bank of India, Tata group stocks in focus on F&O expiry day

By: |
August 26, 2021 8:53 AM

Nifty futures were trading 22.50 points or 0.14 per cent down at 16,604 on Singaporean Exchange, indicating a gap-down start for BSE Sensex and Nifty 50 on F&O expiry day.

Bharti Airtel, IDBI Bank, Infosys, Bank of India, Tata group stocks, stocks in focus, F&O expiry day, stock markets, Nifty, sensexAnalysts expect volatility in stock markets today on the back of monthly expiry of August contracts.

Nifty futures were trading 22.50 points or 0.14 per cent down at 16,604 on Singaporean Exchange, indicating a gap-down start for BSE Sensex and Nifty 50 on F&O expiry day. Analysts expect volatility in stock markets today on the back of monthly expiry of August contracts. Technical charts suggest that post the strong pullback rally, the index has formed a double top kind of reversal formation near the 16700 resistance level, which is broadly negative for the market. “However, the larger texture of the market is still bullish, but for day traders the 16700 level would act as a major hurdle. Above the same, the uptrend could continue up to 16750-16790 levels. On the flip side, a strong possibility of quick intraday correction up to 16580-16550 levels is not ruled out if the Nifty succeeds to trade below 16620,” Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities, said.

Stock to watch

Bharti Airtel: Bharti Airtel on Wednesday said its board will meet on August 29 to consider various fundraising options. The company said in a regulatory filing that the various options to be considered by the board will be through equity or equity-linked or debt instruments or any combination thereof. However, the company did not disclose the quantum of fundraise under consideration.

IDBI Bank: The government has appointed KPMG India as the transaction adviser for strategic disinvestment of its 45.48% stake in IDBI Bank. It would seek expression of interest (EoI) from potential buyers in October, in line with the plan to complete the transaction in the current financial year, official sources said.

Tata group stocks: Tata Sons, the holding firm of Tata Group reported a 61.8% decline in its operational revenue to Rs 9,460.24 crore during financial year 2021 compared to the year-ago period, according to the company’s annual report. Operational revenue a year ago (FY20) at Rs 24,770.46 crore was much higher, mainly on account of special dividend received from Tata Consultancy Services.

Infosys: IT services major Infosys on Wednesday said it will set up a new digital development centre at its largest Canadian office in Mississauga, a move that will help in creating 500 high-quality jobs in the Toronto region over the next three years.

Bank of India: State-owned Bank of India on Wednesday approved the launch of QIP, aimed at raising Rs 3,000 crore equity capital to fund business growth and meet regulatory compliance.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Petrol, diesel prices may rise as international oil rates surge
2Wall Street tech stocks running out of steam; value stocks could take centre stage now
3Govt working on setting up backstop facility for corporate bond market: Finmin official