Bharti Airtel, IndiGo, Tata Steel, Nazara Technologies, Coal India stocks in focus

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August 30, 2021 8:30 AM

Nifty futures were ruling 85.50 points or 0.51 per cent up at 16,810.50 on Singaporean Exchange, suggesting that Nifty 50 index may scale new highs on Monday

Bharti Airtel, IndiGo, Tata Steel, Nazara Technologies, Coal India stocks in focusIndian stock markets will be guided by macroeconomic data, auto sales numbers and global trends this week

Nifty futures were ruling 85.50 points or 0.51 per cent up at 16,810.50 on Singaporean Exchange, suggesting that Nifty 50 index may scale new highs on Monday. In the previous session, equity benchmark indices scaled new closing highs, with the 30-share BSE index closing above the 56,000-mark for the first time. Indian stock markets will be guided by macroeconomic data, auto sales numbers and global trends this week. “The texture of the chart suggests that the 10 days SMA or 16550 would be the sacrosanct level for the breakout in Nifty. If the index crosses the level, the uptrend could continue up to 16825-16950 levels. On the flip side, dismissal of 16550 may trigger temporary weakness till 16375-16300 levels,” Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities, said.

Bharti Airtel: Bharti Airtel will raise up to Rs 21,000 crore through a rights share offering, the telecom operator said on Sunday after it board okayed the issue at Rs 535 apiece, including a premium of Rs 530 per share. The shares will be issued in the ratio of 1 for every 14 held.

IndiGo: IndiGo on Sunday said it has appointed Gregg Saretsky as a special advisor and he will work closely with the executive leadership team to accelerate operational and commercial improvement opportunities at the airline.

Tata Steel: Tata Steel will invest Rs 8,000 crore in capital expenditure on its India operations during the current financial year, the company’s CEO and Managing Director T V Narendran said.

Nazara Technologies: The Board of Directors of Nazar Technologies have approved to make strategic investment for the proposed acquisition of 10,000 equity shares of Rs 10 each representing 100% of the issued and paid up share capital of OpenPlay Technologies Private Limited (OpenPlay) from its existing shareholders i.e. Sreeram Reddy Vanga and Unnati Management Consultants LLP at a consideration of Rs 186.41 crore, in one or more tranches.

Coal India: Coal India arm Northern Coalfields Ltd dispatched the highest ever coal in a single day on August 27, the coal ministry said on Saturday. “On 27th August, 2021 the company’s offtake grew to a whopping 3.87 lakh tonnes,” the coal ministry said in a statement

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