BSE Sensex and Nifty 50 are likely to see a gap-down start on Tuesday, as suggested by trends on SGX Nifty in early trade. Nifty futures were trading 19 points or 0.13 per cent down at 14,477 on Singaporean Exchange. In the previous session, headline indices hit record highs in anticipation of strong quarterly earnings and the optimism around the Union Budget 2021. The India VIX, the fear gauge of the market, ended at a 20-day high on Monday. Technical analysts see the short term trend of Nifty 50 index to be positive. “There is a possibility of some more upmove or range movement for the next 3-4 sessions, before showing sharp one day of decline from the new highs. The next upside levels to be watched at 14600-14800. Immediate support is placed at 14380,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks in focus today:
Fortis Healthcare: Rakesh Jhunjhunwala bought 50 lakh shares of Fortis Healthcare at Rs 179.40 apiece. While Rare Enterprises sold 50 lakh shares of Fortis Healthcare at Rs 179.40 apiece through bulk deal on BSE.
Burger King India: Chetan Rasikal Shah bought 22.80 lakh shares at Rs 150.16 apiece and sold 12.57 lakh shares at Rs 150.15 per share of Burger King India. While Eastspring Investments India Consumer Equity Open Ltd sold 27.55 lakh shares at Rs 154.92 apiece of the company via bulk deal on National Stock Exchange on Monday.
Adani Green Energy: Adani Solar Energy Chitrakoot One Limited, a step down subsidiary of Adani Green Energy Limited has commissioned 25 MW solar power plant. This plant has a Power Purchase Agreement (PPA) with Noida Power Company Limited at Rs. 3.08/KWh.
GAIL India: GAIL (India) Ltd will consider buyback of shares with a view to returning surplus cash to shareholders on Friday. The company infprmed its board will meet on January 15 to consider share buyback as also payment of interim dividend for the fiscal year ending March 2021.
Reliance Industries Ltd: Amazon on Monday urged the division bench of the Delhi High Court to set aside “certain prima facie observations” in the single bench’s December 21 order that allowed Future Group to go ahead with its deal with Reliance Retail in accordance with Indian laws.
Bharat Heavy Electricals Limited: BHEL on Monday said it has bagged an order worth Rs 450 crore for a steam and power plant from National Aluminium Corporation Limited (NALCO). The Rs 450 crore order has been placed on BHEL by NALCO for its 5th Stream Alumina Refinery Expansion Project at Damanjodi, Odisha.
Bharti Airtel: Bharti Airtel and National Small Industries Corporation (NSIC) have teamed up to drive the digital transformation of Micro, Small, and Medium Enterprises (MSMEs) in India. The alliance with NSIC would give it a much deeper distribution reach in this space.