Reliance, Future Retail, HUL, KIMS, Lemon Tree, Dilip Buildcon, GAIL, Maruti stocks in focus

BSE Sensex and Nifty 50 were likely to open on a tepid note on Tuesday, after the benchmark indices ushered in the new year with stellar gains in the previous session.

Reliance, Future Retail, HUL, KIMS, Lemon Tree, Dilip Buildcon, GAIL, Maruti stocks in focus
Technical analysts say that Nifty 50 index shows positive indication and further upside in the short term can be expected. .Image: Pixabay

BSE Sensex and Nifty 50 were likely to open on a tepid note on Tuesday, after the benchmark indices ushered in the new year with stellar gains in the previous session. Nifty futires were trading 7.50 points down at 17,690 on Singaporean Exchange in the early trade. On Monday, S&P BSE Sensex soared 929 points or 1.6% to settle at 59,183 while the NSE Nifty 50 closed 271 points or 1.57% higher at 17,625. Technical analysts say that Nifty 50 index shows positive indication and further upside in the short term can be expected. “The negative sequence of lower tops and bottoms on the daily chart is now placed at the edge of negation, as Nifty moved above the last lower top of 13th Dec at 17639 levels on Monday. This could mean that the bearish set up is likely to be negated and any dips from here could unfold a bullish set up like higher highs and lows, as per daily chart,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.

Stocks to watch

Future Retail: Future Retail on Monday moved the Delhi High Court seeking to declare the ongoing arbitration proceedings in Singapore with Amazon over its Rs 24,500-crore merger deal with Reliance Retail as ‘illegal’ and ‘contrary to law’.

Bank stocks: The recovering asset quality of banks may get impacted if the Omicron variant of Covid-19 causes a third wave of infections, triggering localised lockdowns, domestic rating agency ICRA said. It also added that banks could see an impairment in advances to self-employed segment, microfinance, unsecured consumer retail, commercial vehicle, and small and medium enterprises (SME), according to analysts.

Reliance Industries Ltd: Sterling and Wilson Renewable Energy (SWREL) on Monday said that Reliance New Energy Solar Ltd (RNESL) has become its promoter post payment of balance Rs 1,583 crore for acquisition of 25.90 per cent equity in it. With this transaction, RNESL and other group firms together hold over 40 per cent stake in SWREL.

HUL, Colgate-Palmolive: The ongoing tiff between the FMCG companies and traditional distributors is nowhere near end with the distributors planning to block Hindustan Unilever (HUL) and Colgate-Palmolive products in other states as well. All India Consumer Product Distributors Federation (AICPDF) has said that its chapters in Gujarat, Odisha, Rajasthan and Tamil Nadu are discussing a blockade, starting January 4.

Lemon Tree Hotels: Goldman Sachs (Singapore) Pte- ODI lapped up 30.02 lakh equity shares in Lemon Tree Hotels at Rs 46.6 per share via block deal on the BSE. Zaaba Pan Asia Master Fund was the seller.

KIMS: Goldman Sachs (Singapore) Pte- ODI bought 72,009 equity shares in Krishna Institute of Medical Sciences at Rs 1,425.65 per share via block deal on the BSE.

Dilip Buildcon: Dilip Buildcon has received letter of acceptance (LOA) for over burden removal contract mining work for Amadand OCP, Jamuna Kotma Area, in Madhya Pradesh valued at Rs 2,683.02 crore by the South Eastern Coalfield (SECL), a subsidiary of Coal India.

GAIL (India): GAIL India paid first interim dividend of Rs 4 per equity share for FY22.

Maruti Suzuki: Maruti Suzuki India produced 1.52 lakh vehicles in December 2021, as compared to 1.55 lakh vehicles in December 2020. The company exported 2.05 lakh vehicles in 2021, the highest ever in a calendar year.

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