After posting record closing highs on Tuesday, BSE Sensex and Nifty 50 were likely to open at fresh record high levels on the day of weekly F&O expiry. On Tuesday, BSE Sensex surged 210 points or 0.4 per cent to 55,792.27, while the Nifty 50 index ended at 16,614, rising 0.31 per cent or 51.55 points. Analysts see Nifty 50 touching 16,850 as next target in the short term. “The index successfully achieved its target of 16600. If we can keep above this, the next level should be 16850,” Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments, said.
Stocks to watch
Reliance Naval and Engineering: A Naveen Jindal group firm along with two other players are likely to have submitted final bids for the beleaguered shipbuilding firm Reliance Naval and Engineering, sources close to development told FE. The two other bidders include Netherlands-based APM Terminals and a consortium of GMS, Dubai and BESIKTAS of Turkey.
Vodafone Idea: After Bharti Airtel, Vodafone has increased tariffs for its entry-level prepaid plans by around 61%. Vodafone Idea has made the Rs 79-plan as the entry-level pack for 28 days’ validity across most of the circles.
Future Retail: Expressing displeasure over the Future Group’s failure to comply with its March 18 order, the Delhi High Court on Tuesday asked it to either get a stay from the Supreme Court or it will initiate compliance proceedings to attach the assets of the Group’s chairman Kishore Biyani and other directors.
Meghmani Finechem: Meghmani Finechem Ltd (MFL) on Tuesday said the company will get listed on the BSE and the National Stock Exchange (NSE) on Wednesday. “Tomorrow (August 18), 4.15 crore equity shares of Rs 10 of MFL will get listed on the stock exchanges and trading will commence,” the company said in a statement.
RateGain Travel Technologies: RateGain Travel Technologies, a travel and hospitality technology services provider, has filed a draft red herring prospectus (DRHP) with capital market regulator SEBI to launch an IPO.
HDFC Bank: The Reserve Bank of India (RBI) on Tuesday allowed HDFC Bank to issue new credit cards after eight months of imposing a ban as a penalty due to technical glitches, according to the news agency Reuters.
