Nifty futures were seen trading 35.75 points or 0.25 per cent higher at 14,075.50 on Singaporean Exchange, hinting a fresh record high opening for BSE Sensex and Nifty 50 on Wednesday
Market participants will watch stock-specific developments, foreign fund flow, and Covid-related updates for further cues.
Nifty futures were seen trading 35.75 points or 0.25 per cent higher at 14,075.50 on Singaporean Exchange, hinting a fresh record high opening for BSE Sensex and Nifty 50 on Wednesday. Market participants will watch stock-specific developments, foreign fund flow, and Covid-related updates for further cues. Moreover, expiry of December series derivative contracts likely to keep the stock market volatile. “Now, 14000 is merely a formality and looks like we are going to end this year around this magical figure. For the coming session, 13975 – 14050 are the levels to watch out for; whereas on the lower side, supports are placed at 13900 – 13850,” said Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking.
Vedanta Ltd: Promoters of Vedanta Ltd have pledged their holding in the company to raise USD 1.4 billion, mostly for repaying the debt that was coming up for maturity. In a stock exchange filing, Vedanta said its promoters raised USD 1 billion debt by issuing equivalent notes to Citicorp International Ltd.
RIL:Mukesh Ambani-led Reliance Industries Ltd informed that it has completed the acquisition of equity shares of IMGR. Accordingly, IMG-R has become a wholly-owned subsidiary of the company. It said that the holding of the company along with IMG-R in Football Sports Development Limited (FSDL) is 65% and FSDL has become a subsidiary of the company.
Jindal Steel Ltd:Jindal Stainless (Hisar) (JSHL) will be merged into group company Jindal Steel (JSL), the management announced on Tuesday. It said that the merger of JSL and JSHL will induce a simplified capital structure, expanding the turnover of the merged business to around Rs 20,000 crore.
Adani Logistics, Snowman Logistics: Adani Logistics sold 40.55 lakh shares of Snowman Logistics at Rs 61.82 per share on the NSE, and 39.50 lakh shares at Rs 61.56 per share on the BSE.
NTPC, Torrent Power: The Andhra Pradesh government has received good response to the bids invited by it earlier this month to build solar power capacity of another 6,400 MW in the state. Adani Group, Torrent Power and state-run NTPC are learnt to be among the bidders, with Adani offering to the build the largest capacity individually.