Indian benchmarks indices BSE Sensex and NSE Nifty 50 were likely to open in green on Thursday as Nifty futures on the Singapore Exchange traded 89 points, or 0.51 per cent, higher at 17,428. In the previous session, the BSE Sensex closed 2.25 per cent or 1277 points higher at 58,065, while Nifty50 ended 2.29 per cent or 387 points up at 17,274. Technical analysts say that the short term trend of Nifty has turned up sharply after a broader range movement of the last few sessions. “A decisive move above 17300 levels is likely to pull Nifty towards the next crucial resistances of around 17600 and next 18000 levels in the near term. Immediate support is placed at 17150 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.
Stocks to watch
Reliance Industries Ltd: Billionaire Mukesh Ambani’s RIL has told a government-appointed panel reviewing gas pricing that any ‘retrograde’ move to artificially cap rates will add to fiscal policy instability, delays investment and dent India’s attempt to become Atmanirbhar in fuel production.
Hindustan Unilever: Hindustan Unilever (HUL), the Indian arm of FMCG major Unilever, has outdone the performance of its parent, and is set to overtake the US business of the Anglo-Dutch consumer multinational company, to become the largest by value.
Reliance Capital: In a move that may further delay debt-laden Reliance Capital’s (RCap) bankruptcy process, its administrator intends to seek a 90-day extension for completion of the former Anil Ambani group firm’s entire resolution process.
HDFC Bank: HDFC Bank has posted a 23.5 per cent rise in loans to Rs 14.80 lakh crore in the second quarter of the fiscal. The credit book was Rs 11.98 lakh crore as of September 30 last year.
Tata Steel: Tata Steel company has offloaded 19 per cent stake in Al Rimal Mining LLC, Oman (Al Rimal).
HCL Technologies: Noida-based IT services major HCLTech plans to hire 1,000 people in Brazil in the next two years and will also open a new technology centre in Campinas as part of its expansion in the region.
Adani Enterprises: Adani Enterprises has announced the formation of a wholly-owned subsidiary, Adani Disruptive Ventures (ADVL), a note shared with the stock exchanges said. It also announced the formation of another subsidiary, Alwar Alluvial Resources (AARL).
Avenue Supermarts: Avenue Supermarts, the operator of DMart retail stores, reported a 35.8 per cent on-year jump in revenue from operations to Rs 10,384.7 crore for the quarter ended September, the company said in a regulatory filing.
State Bank of India, Bank of Baroda: Fitch on Tuesday assigned a stable outlook to public sector lenders State Bank of India (SBI) and Bank of Baroda (BoB) while affirming their ‘BBB-‘ rating.
Jubilant FoodWorks: Jubilant Foodworks arm acquires Netherlands-based DP Eurasia NV. Subsidiary Jubilant FoodWorks Netherlands BV acquired additional stake in the company.