Nifty futures were ruling 85.50 points or 0.57 per cent down at 15,029.50 on Singaporean Exchange, indicating a gap-down opening for BSE Sensex and Nifty 50 on Friday
Nifty futures were ruling 85.50 points or 0.57 per cent down at 15,029.50 on Singaporean Exchange, indicating a gap-down opening for BSE Sensex and Nifty 50 on Friday. Previous session marked the third straight fall in the headline indices due to concerns over stretched valuations and weak global cues. According to an analyst, lack of strength in decline and positive market breadth could indicate possibility of a comeback of bulls from the lower levels. “We expect Nifty to show upside bounce from the lows of around 15000 levels in the next 1-2 sessions. On the flip side, a decisive move below 14950 is likely to trigger more weakness in the near term,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.
Stocks in focus today:
Bharti Airtel, Vodafone Idea: According to TRAI data, Bharti Airtel added 4.05 million wireless subscribers in December 2020 to take its base to 338.70 million, followed by Reliance Jio, which added 478,917 subscribers to take its base to 408.77 million. Reliance Jio’s wireless market share stood at 35.43% in December, followed by Airtel at 29.36%. Vodafone Idea continues to lose subscribers, losing 5.69 million users in December.
OIL, EIL, BPCL: Oil India Limited in consortium with Engineers India Limited has decided to bid for acquiring 61.65 per cent stake of Bharat Petroleum Corporation Limited in Numaligarh Refinery Limited (NRL). The bid is to be submitted through a formal process, according to a statement issued by OIL on Thursday.
Ambuja Cement: Ambuja Cement posted a consolidated net profit of Rs 968.24 crore for the quarter ended on December 31, 2020. The company’s margin expanded by 410 bps (basis points) during the quarter and 480 bps for the full year.
DLF: DLF informed that DCCDL has completed the acquisition of this 51.8 per cent stake at a consideration of Rs 779.40 crore and consequently Fairleaf has become a wholly-owned subsidiary of DCCDL with effect from today i.e. 18th February 2021
Results today: Mahindra CIE Automotive, Asian Tea & Exports, Binani Industries, Chromatic India, Sunedison Infrastructure, Uniply Decor, Uniply Industries and Uniworth Securities are scheduled to announce their third quarter earnings later in the day today