Stocks in focus: Reliance Industries, Vedanta, DHFL, Mrs Bectors, DLF, and more

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December 28, 2020 8:33 AM

On Monday morning SGX Nifty was hinting at a gap-up start for domestic stock markets.

Share Market Today, Share Market LiveNifty Media and Nifty Metal indices were down 1.45 per cent and 1.09 per cent, respectively.

On Monday morning SGX Nifty was hinting at a gap-up start for domestic stock markets. Domestic equity markets enter the last week of this decade on a positive note after having regained almost all losses that they suffered on the previous Monday. Technically, Nifty is still in the negative territory but that could be reversed with a close above the recent highs of 13778. “The short term trend continues to remain down. However, with the intermediate uptrend still intact, we expect the recent correction to be more of a short term nature and may have possibly bottomed out with the strong price action seen in the last three sessions,” said Subash Gangadharan, Technical and Derivative Analyst, HDFC Securities.

DHFL: Oaktree Capital on Thursday increased its bid for Dewan Housing Finance Corporation by Rs 1,700 crore, taking its total bid price to Rs 38,400 crore making it the highest bidder for the firm. The increased offer came after rival bidder Piramal Capital and Housing Finance had offered to increase its bid for DHFL.

Vedanta: Anil Agarwal led mining and commodities major Vedanta could be inaction today after the promoter group increased their shareholding in the company by 5% through the open market. Analysts say that the commodity prices are inching up which might have made the promoter optimistic about the future of the firm and hence leading them to increase their stake. 

Also Read: Share Market LIVE: Sensex, Nifty may open with gains; Donald Trump signs $900 billion coronavirus relief bill

Reliance Industries Limited: Last week India’s largest private firm, Reliance Industries Limited said that it will increase its stake in IMG-Reliance by buying out IMG from the shorts and fashion join the venture.

Dish TV: The firm has informed the bourses that the Ministry of Information and Broadcasting has demanded the company to pay Rs 4,164 crore within 15 days. DishTV has informed that the said amount includes the License Fee payable and accrued interest. 

DLF: Real Estate firm DLF’s DCDL has entered into an agreement to acquire the stake of US-based Hines in a premium commercial project in Gurugram for Rs 780 crore. DCDL is a joint venture between DLF and Singapore’s sovereign wealth fund GIC.

Mrs Bectors Food: After making a stellar listing debut on Dalal Street, eyes will once again be glued on Mrs Bectors as investors look for another day of gains in a similar fashion to Burger King India

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