Nifty futures were trading 98.50 points or 0.69 per cent higher at 14,374.50 on Singaporean Exchange, indicating a gap-up start for BSE Sensex and Nifty 50 on Tuesday.
According the market watchers, Indian stock markets are in overbought zone as Nifty 50 index closed the previous session with a P/E multiple of 38.92. Image: Reuters
Nifty futures were trading 98.50 points or 0.69 per cent higher at 14,374.50 on Singaporean Exchange, indicating a gap-up start for BSE Sensex and Nifty 50 on Tuesday. In the early trade, Asian stocks and US futures were seen trading higher ahead of US President-elect Joe Biden’s nominee for Treasury Secretary, Janet Yellen’s comment on US stimulus. According to the market watchers, Indian stock markets are in overbought zone as Nifty 50 index closed the previous session with a P/E multiple of 38.92.
YES Bank: The private bank informed in a BSE filing that Yes Bank board will meet on Friday, January 22, 2021, to consider raising of funds by issue of equity shares, depository receipts, convertible bonds, debentures and other various means.
Maruti Suzuki: The car-maker on Monday said that the company is increasing the price for select models owing to increase in various input costs. “The price change varies across models and ranges upto Rs 34,000. The new prices are effective from 18th January 2021,” it said.
L&T Finance Holdings: L&T Finance Holdings said its board has fixed the price at Rs 65 per share for the Rs 3,000 crore rights issue which opens for subscription on February 1. According to a regulatory filing, the board has approved the price of Rs 65 per fully paid-up share including a premium of Rs 55 per share of face value Rs 10.
Power Finance Corporation: PFC’s Rs 5,000 crore taxable non-convertible debentures (NCDs) issue was subscribed close to nine times on Monday and closed for subscription 11 days ahead of the schedule, according to the BSE data. The firm has planned to raise Rs 10,000 crore through bonds in two tranches.
Mindtree: Mindtree reported a 65.7 per cent rise in its consolidated net profit to Rs 326.5 crore for the December 2020 quarter. The company had posted a net profit of Rs 197 crore in the year-ago period. Its revenue grew 3 per cent to Rs 2,023.7 crore in the quarter under review, from Rs 1,965.3 crore in the year-ago period.
Motherson Sumi Systems: Samvardhana Motherson Automotive Systems Group BV announced the acquisition of a majority stake in Plast Met Plastik Metal San. İmalatveTic.A.Ş.(PM-Bursa) and Plast Met Kalıp San.veTic.A.Ş.(PM-Istanbul) together known as Plast Met group (Turkey) through its subsidiary Samvardhana Motherson Reflectec (SMR).