Nifty futures were trading 54.50 points or 0.36 per cent up at 15,004.50 on Singaporean Exchange, indicating a positive opening for BSE Sensex and Nifty 50 on Tuesday.
Nifty futures were trading 54.50 points or 0.36 per cent up at 15,004.50 on Singaporean Exchange, indicating a positive opening for BSE Sensex and Nifty 50 on Tuesday. In the previous session, headline indices ended at three-day low level. Factors such as lacklustre macroeconomic data, rising COVID-19 cases, US Treasury yields, oil prices, rupee trajectory and other global cues were denting the risk appetite of the investors. According to an analyst, if the Nifty goes into an improper correction, there could be severe short covering above 15100/51000 levels. “In that case, again the possibilities of hitting 15350/15450 (51650/51850) would turn bright. It would be better if we stay stock-specific until then. If the market goes down again, 14800/14750 (49800/50000) would be the best support,” said Shrikant Chouhan, Executive Vice President (Technical Research Analyst), Kotak Securities.
Stocks in focus today:
Tata Communications: The government will sell up to 16.12 per cent stake in Tata Communications Ltd (TCL) through an Offer for Sale starting on Tuesday. “Offer for sale of GoI equity in TCL opens tomorrow for Non-Retail Investors. Day 2 for Retail Investors. The government would divest 10 per cent shares with an additional 6.12 per cent as Green Shoe Option,”DIPAM Secretary Tuhin Kanta Pandey tweeted.
Adani Ports and Special Economic Zone: APSEZ received a Letter of Intent (LOI) from the Ministry of Ports and
Shipping of Sri Lanka and the Sri Lanka Ports Authority, acting on behalf of the Government of Sri Lanka, pursuant to approval from the Sri Lankan Cabinet of Ministers for the development and operations of West Container Terminal (WCT) in Colombo, Sri Lanka.
HFCL Ltd: HFCL has signed a share subscription and shareholders’ agreement with Nimpaa Telecommunications and the promoters of Nimpaa. In terms of the agreement, the company intends to acquire up to 50 per cent of the paid-up equity share capital (on a fully diluted basis) of Nimpaa, in one or more tranches, by way of subscribing its equity shares.
GAIL: The government is not considering any proposal to bifurcate state-owned gas utility GAIL (India) Ltd, and the company is focused on building pipelines to connect gas sources to consumers to accelerate gas usage, Oil Minister Dharmendra Pradhan said on Monday.
Tech Mahindra: Mumbai-based Tech Mahindra has announced the acquisition of 70% stake in Dublin-based digital workflow and artwork, labelling and BPO services firm, Perigord for $25.06 million (€21 million). According to the IT firm’s filing on the NSE, this amount will be paid upfront and the remaining 30% shares will be acquired over the next four years at a valuation linked to financial performance of the company.