SGX Nifty hints at a positive opening for domestic markets, a day after benchmark indices tanked. However, global cues were mixed.
SGX Nifty hints at a positive opening for domestic markets, a day after benchmark indices tanked. Global cues were, however, mixed as Wall Street ended Monday with losses. On Tuesday morning, Hang Seng, Topix, and Nikkei 225 were trading with losses. Meanwhile, Shanghai Composite, KOSPI and KOSDAQ were trading with gains. On the charts, Nifty respected the support at 14,200 which could lead to upside in the coming sessions. “Having placed at the crucial lower supports of 14200 and the chart pattern of daily/weekly timeframe, one may expect minor upside bounce in the next few sessions (up to the gap hurdle of 14550) There is an expectation of next round of weakness from the highs,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
HCL Technologies: The Information Technology firm on Monday informed the bourses that it has signed a multi-million dollar digital transformation and hybrid cloud contract with UD Trucks, a leading Japanese commercial vehicle solutions provider.
Future group stocks: Future Retail, Future Enterprises and other Future group stocks might see some action today after the Supreme Court on Monday stayed all proceedings before the Delhi High Court related to the enforcement of the Singapore Emergency Arbitrator’s interim award restraining the Rs 24,713-crore deal between Future Retail and Reliance Retail. The matter was being heard by a single judge as well as a division bench of the Delhi High Court.
Tech Mahindra: Tech Mahindra on Monday said it has acquired a 100% stake in DigitalOnUs. The company will pay $120 million for said acquisition.
Crisil: In the January-March quarter, the company’s net profit slipped to Rs 83.5 crore from Rs 88 crore in the same period last year. The company has declared an interim dividend of Rs 7 per share.
Adani Ports and Special Economic Zone: Gautam Adani led firm said that its Board has approved the allotment of 1 crore equity shares of the face value of Rs 2 each fully paid up, on a preferential Basis to Windy Lakeside Investment Ltd at an issue price of Rs 800 per Equity Share, aggregating to Rs 800 crore.
ACC: Cement manufacturing company ACC reported a net profit of Rs 563 crore in the previous quarter, up from Rs 323 crore in the same period last year. ACC said that it maintains a cautious yet positive outlook for overall cement demand in the coming months.
Results today: Nestle India, Swaraj Engines, Network18 Media & Investments, Tata Steel Long Products, TV18 Broadcast, Welspun Investment and Commercials, among others will report their quarterly results today.