Nifty futures tanked 92.50 points or 0.52 per cent to 17,868.50 on Singaporean Exchange, hinting at a negative opening on Tuesday
Nifty futures tanked 92.50 points or 0.52 per cent to 17,868.50 on Singaporean Exchange, hinting at a negative opening on Tuesday. Investors will closely watch the September CPI Inflation and the Industrial Output for August. “Zooming into the Nifty 60 min charts, we can observe that although the index has corrected from the highs, it continues to trade above the 20 and 50 period MA on the 60 min charts and is consolidating in a range,” Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities, said. Gangadharan said that this is a healthy sign as a consolidation just below the lifetime highs indicates that the market is building strength before an eventual breakout to new life highs.
Stocks to watch
Q2 results today: A total of six BSE-listed companies such as Bhansali Engineering Polymers, GM Breweries, Indbank Merchant Banking Services, Ind Bank Housing, JTL Infra, and DRC Systems India are scheduled to announce its quarterly earnings on 12 October 2021.
Avenue Supermarts: Avenue Supermarts, the operator of D-Mart, entered the list of top 15 most valued companies by market capitalisation after its m-cap topped Rs 3 lakh crore.
ZEEL: Invesco Developing Markets Fund, the largest shareholder in Zee Entertainment Enterprises (ZEEL), on Monday wrote an open letter to the shareholders explaining why it is seeking a change in the management, board, via an extraordinary general meeting (EGM).
Prestige Estates: Bengaluru-based Prestige Estates on Monday reported an 88% year-on-year (y-o-y) jump in its sales, at Rs 2,112 crore, for the July-September quarter this fiscal, backed by an encouraging response from its newly-launched projects. The sales achieved during Q2 of FY22 are its highest quarterly sales so far.
Srei Infrastructure Finance, Srei Equipment Finance: Creditors to Srei Infrastructure Finance and its wholly owned subsidiary Srei Equipment Finance have been asked to submit their claims to the administrator by October 22 as the corporate insolvency resolution process (CIRP) has been initiated against the two companies.
RIL, Future Group stocks: Future group firms are convening meetings of their respective shareholders and creditors in November to seek approval to their proposed merger into Future Enterprises as part of the Rs 24,713-crore deal with Reliance Retail. Several listed transferor firms including Future Retail, Future Consumer, Future Enterprises, Future Lifestyle Fashions, Future Markets Networks and Future Supply Chain Solutions – have informed their shareholders and creditors about the meetings which will take place on November 10 and 11.
Coal India: The government on Monday organised a pre-bid conference for prospective bidders for the sale of 11 coal mines. The coal ministry launched the second attempt of the auction of 11 coal mines earmarked for the sale of coal last month.
Maruti Suzuki: Maruti Suzuki witnessed 51 per cent fall in production last month owing to the shortage of semiconductor chips. The company reported production of 81,278 units in September as compared with 1.66 lakh units in September 2020.