After four days of losses, domestic benchmark indices could reverse the trend today and march upwards. US Federal Reserve has maintained its dovish policy stance, helping Wall Street close at record highs. Asian markets were mirroring the move and moving higher on Thursday morning. On the charts, Nifty is near a crucial support zone of 14500-14450 levels, which could push the index higher. There is a possibility of an upside bounce from this cluster support in the next few sessions. The strength of the market during upside bounce could be important to hold on support and show sustainable bounce,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Punjab National Bank: The bank has informed the stock exchanges that it has set-up a wholly-owned subsidiary to undertake the non-financial support services related to the credit card business of the Bank. The Authorised Capital of the Company is Rs 25 crore and the Paid-up Capital is Rs 15 crore.
ITC: On Wednesday, the company clarified that the news reports of a demerger in the company as speculative. Shares of ITC had surged yesterday despite the weakness in stock markets.
Reliance Industries, Bharti Airtel, Vodafone Idea: The Telecom Regulatory Authority of India yesterday released January Subscriber data for telcos. In the first month of the year, telecom companies added 9.6 million subscribers. Bharti Airtel led the pack with 5.89 subscriber addition, followed by Reliance Jio at 1.95 million and Vodafone Idea with 1.71 million new subscribers.
Read Also: Rakesh Jhunjhunwala-backed Nazara Tech IPO oversubscribed; grey market premium doubles the issue price
DLF: Board of DLF has approved the issuance of non-convertible at a coupon rate of 8.25% per annum. Through these DLF is looking to raise Rs 500 crore. The NCDs will be issued on a private placement basis.
BHEL: Bharat Heavy Electricals has emerged as the lowest bidder for the Rs 10,800 crore fleet mode tender floated by NPCIL.
Tata Motors: The high-flying stock could witness movement today as Jaguar Land Rover Europe sales in the month of February came down at 5,430 units against 7,805 units in the year ago period.