Headline indices BSE Sensex and Nifty 50 were likely to start the week on a flat to positive note, following a 1.2 per cent fall last week.
Stocks in focus for Monday's trade.
Headline indices BSE Sensex and Nifty 50 were likely to start the week on a flat to positive note, following a 1.2 per cent fall last week. Nifty futures were seen trading just 12.50 points up at 15,007 on Singaporean Exchange in early trade on Monday. A spike in coronavirus cases in some Indian states and rising bond yields dampened investor sentiment. This week GDP data is scheduled to be released. According to an analyst, the short term trend of Nifty continues to be weak. “The late hour upside recovery of Friday could signal a possibility of a minor upside bounce in the coming session. However, a decisive move below 14950 could result more weakness down to 14700-14500 levels in the near term. Immediate resistance is placed at 15115,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
V-Guard Industries: V-Guard Industries promoter and chairman emeritus Kochouseph Chittilappilly has sold 40 lakh shares in the company worth Rs 90 crore to fund social causes. “The sale of 40 lakh shares of V-Guard Industries Ltd executed on February 17, 2021 was to raise funds for two initiatives I have undertaken as part of my commitment to social causes,” Chittilappilly said in a regulatory filing.
PNB Housing Finance: According to a regulatory filing, Punjab National Bank will not participate in capital raise plans of its housing finance subsidiary, PNB Housing Finance, but the company will continue to scout for raising equity from other sources.
Coal India: The Centre plans to permit sale of 50 per cent of coal/lignite produced by captive blocks, a move aimed at augmenting the production and increasing the availability of dry fuel. The government plans to do so through incorporation of a provision in the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR).
Jubilant FoodWorks: Jubilant Foodworks Netherlands B.V., wholly owned subsidiary of the Company, has entered into a purchase agreement with Turkish Private Equity Fund II L.P. to fully acquire Fides Food Systems Coöperatief U.A. which holds 32.81% equity shares in DP Eurasia N.V. Jubilant Foodworks Limited has also executed the Purchase Agreement as guarantor in connection with the investment obligations of Jubilant Foodworks Netherlands B.V.
Torrent Power: Torrent Power on Saturday said it has emerged as the highest bidder for 51 per cent stake in a power distribution company in the Union Territory of Dadra & Nagar Haveli and Daman & Diu. Torrent Power currently distributes nearly 16.66 billion units to over 3.65 million customers
NTPC: State-owned NTPC on Saturday announced commissioning of 5 mega watt (MW) solar capacity at a project in Auraiya, Uttar Pradesh. The capacity is part of its 20 MW Solar PV Project located in Auraiya, about 200 km from the state capital Lucknow.