Nifty futures were trading 60.50 points up at 13,639 on Singaporean Exchange, suggesting a positive opening for BSE Sensex and Nifty 50 on Wednesday
During the second half of the calendar 2020, the Nifty 50 index moved from strength to greater strength
Nifty futures were trading 60.50 points up at 13,639 on Singaporean Exchange, suggesting a positive opening for BSE Sensex and Nifty 50 on Wednesday. Indian equities may scale another fresh all-time high today. In today’s session, stock-specific developments will be important to watch out for. Besides, market participants will keep tabs on US Federal Reserve meeting. “The short term trend of Nifty continues to be range bound within a high low band of 13600-13400 levels. A sustainable move above 13600 levels is expected to result in Nifty continuing with next round of sharp upside momentum and inch towards the next upside levels of 13900 in the near term. Any display of lack of strength around 13600 could mean minor profit booking from the highs. Immediate support is now placed at 13450,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
BPCL: Clearing the decks for the privatisation process, state-run oil refiner and marketer Bharat Petroleum Corporation Ltd on Tuesday said the company’s board would on Wednesday take a call on buying a 36.6% equity share in Bharat Oman Refineries (BORL) — the unit that runs the 7.8 million tonne Bina refinery — from OQ S.A.O.C (formerly known as Oman Oil Company). BPCL already owns the majority 63.4% stake in BORL.
Mahindra & Mahindra: M&M announced that effective January 1, 2021, the company will increase the price of its range of passenger and commercial vehicles, across models. This has been necessitated due to the increase in commodity prices and various other input costs.
Punjab National Bank:PNB has set the floor price for its proposed QIP of Rs 7,000 crore at Rs 37.35 per share.The Capital Raising Committee of the bank at a meeting held on Tuesday authorised the opening of the QIP issue and approved the floor price at Rs 37.35 per equity share, PNB said in a regulatory filing.
Axis Bank: Axis Bank on Tuesday said the report, issued by an Australia-based news platform, which alleged that the bank has provided loans to Srei entities without any due diligence and verification of end use of the loan amount is grossly inaccurate and baseless.
Future Enterprises Ltd: FEL is planning to prepay the debentures issued by the company from the money to be received after selling its retail and other businesses to Reliance Industries’ step down firm Reliance Retail Ventures.