Domestic equity market benchmarks BSE Sensex and Nifty 50 were eyeing a flat start with a positive bias on the first day of the week
If the correction in bond yields continues, it could benefit the Bank Nifty index, said an analyst.
Domestic equity market benchmarks BSE Sensex and Nifty 50 were eyeing a flat start with a positive bias on the first day of the week, as indicated by the SGX Nifty in early trade. Nifty futures were trading just 6.50 points up at 14,753.50 on Singaporean Exchange. In the previous session, both the headline indices ended nearly 2 per cent down. If the correction in bond yields continues, it could benefit the Bank Nifty index, said an analyst. “14600/49600 and 14450/49200 would remain important supports. Keep a buy-dips strategy for the coming week,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities. Chouhan also added that Nifty has formed a bullish piercing pattern, which means it’s has absorbed heavy selling pressure and it ready to move higher.
Reliance Industries Ltd:RIL has sold three-fourth of the gas from coal seams in Madhya Pradesh to an affiliate of the company at a price of just over USD 6 at current oil prices. India Gas Solutions Private Limited, a 50: 50 joint venture of RIL and UK’s bp, bought 0.62 million standard cubic meters per day out of 0.82 mms cmd gas bid out in an auction last week, PTI cited three people with knowledge of the matter as saying.
Future Retail Ltd: Future Retail Ltd in a BSE filing informed that it has approached the Delhi High Court challenging a single judge’s order upholding Singapore’s Emergency Arbitrator’s (EA) order that restrained FRL’s Rs 24,713 crore deal with Mukesh Ambani’s Reliance Retail Venture Ltd (RRVL).
NTPC: The output of state-run power major NTPC’s Bongaigaon plant in Assam has crossed its installed capacity of 750 MW for the first time since the commissioning of all its units two years ago, an official statement said on Sunday.
HDFC Bank: Part of the member lending institutions supporting the government’s Emergency Credit Line Guarantee Scheme (ECLGS) for MSMEs, private sector lender HDFC Bank has disbursed around Rs 23,000 crore as of December 31, 2020.
IDBI Bank: IDBI Bank informed that it has deposited Rs 25 lakh towards Recovery Expense Fund (REF) with its designated exchange NSE. Last year in October, capital markets regulator SEBI had asked listed companies, proposing to list debt securities, to set up REF so that action could be taken by debenture trustees in case of defaults by the issuer.
Crompton Greaves Consumer Electricals Ltd: Crompton Greaves will continue to witness an annual growth of 10 to 15 per cent this fiscal also, PTI quoted a top company official as saying.
TCS:Tata Consultancy Services (TCS) will hand out across-the-board salary increments for 2021-22, becoming the first IT services company to do so for the upcoming fiscal. The salary hike roll-out will benefit nearly 4.7 lakh employees of the company.