Go Fashion, Coal India, ZEE, Kotak Mahindra Bank, Reliance Capital among stocks in focus today

On the charts, Dalal Street benchmark indices still look weak but some pullback has not been ruled out.

SGX Nifty was in green on Tuesday morning. (Image: REUTERS)

SGX Nifty was trading with gains during the early hours of Tuesday, hinting at a flat to a positive start to the day’s trade. On the charts, Dalal Street benchmark indices still look weak but some pullback has not been ruled out. “The down-trend status in Nifty is still alive and the minor pullback rally is expected in the next 1-2 sessions,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities. “At the higher levels 17200-17300 is going to be a strong overhead resistance and expected to be a sell on rise opportunity in the market. The next lower supports to be watched at 16780 levels,” he added.

Go Fashion: Shares of Go Fashion (India) will list on the stock exchanges today. The IPO of Go Fashion had received a strong response from investors earlier this month with overall subscription reaching 135 times the IPO size. 

Reliance Capital: The Reserve Bank of India has superseded the Board of Reliance Capital. Promoter by Anil Ambani, the company will soon go through bankruptcy proceedings. 

Kotak Mahindra Bank: The private sector lender on Monday said that Life Insurance Corporation of India (LIC) has received approval from RBI to increase stake in the bank to 9.99%.

Zee Entertainment Enterprises: A bench of Bombay High Court will continue hearing the suit filed by Invesco Developing Markets Fund, challenging an injunction order by the court, in the Zee-Invesco case.

Union Bank of India: The Reserve Bank of India said it has imposed a penalty of Rs 1 crore on Union Bank of India for deficiencies in regulatory compliance. 

Coal India: Coal India will give Rs 3,667 crore as interim dividend to the government for the current financial year. The Maharatna PSU announced a 90 per cent interim dividend for FY22, which translated to Rs 9 per share of face value Rs 10. The total outgo for the purpose will be around Rs 5,546 crore.

Asian Paints: The company will invest Rs 960 crore to expand the manufacturing capacity of its facility situated at Ankleshwar in Gujarat. The company has signed a memorandum of understanding with the Government of Gujarat commencing the proposed expansion of manufacturing capacity of paint from 1.3 lakh KL to 2.5 lakh KL and resins and emulsions from 32,000 MT to 85,000 MT, Asian Paints said in a regulatory filing.

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