Stocks in focus: Wipro, Antony Waste, Ruchi Soya, Majesco, Adani Logistics, Reliance Capital

Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a gap-down opening on Wednesday, as suggested by trends in SGX Nifty

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Crucial supports to watch for a short term trend reversal are at 13864-13842.

Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a gap-down opening on Wednesday, as suggested by trends in SGX Nifty. Nifty futures were trading 50 points down at 13,433 on Singaporean Exchange. In the previous session, headline indices made a swift comeback and ended higher. Analysts expect volatility to remain high in the following sessions until clarity emerges about new Covid-19 strains and efficacy of ongoing vaccinations. “Defensive pack viz. IT, pharma and FMCG is looking comparatively strong and should be preferred for buying trades in case the rebound extends further. On the flip side, banking and metal may trade subdued so plan your positions accordingly,” said Ajit Mishra, VP – Research, Religare Broking Ltd.

Stocks in focus today:

Wipro: Wipro announced a significant strategic digital and IT partnership deal with METRO AG, the leading global wholesale company that is redefining the food service distribution industry. In another development, Wipro on Tuesday said its up to Rs 9,500-crore share buyback programme will commence on December 29 and close on January 11, 2021.

Antony Waste IPO: Antony Waste Handling Cell IPO was subscribed 3.85 times on second day with retail investors subscribing their reserved portion 7.22 times. The 300-crore issue received bids for 2.56 crore equity shares against the 66.66 lakh shares on the offer.

Ruchi Soya Industries: Ruchi Soya Industries Ltd shareholders have approved the appointment of Yoga guru Swami Ram Dev, his younger brother Ram Bharat and close aide Acharya Balkrishna on the company’s board. In a regulatory filing, Ruchi Soya said the shareholders have approved all resolutions at the annual general meeting with requisite majority.

Majesco Ltd, Adani Logistics: Atul Limited bought 2.14 lakh shares of Majesco at Rs 981.58 per share on Tuesday, according to the NSE bulk deals data. On the other hand, Adani Logistics: Adani Logistics offloaded 9.15 lakh shares of Snowman Logistics at Rs 51.04 per share through a bulk deal on Tuesday.

Embassy Office Parks REIT: Embassy Office Parks REIT on Tuesday announced that it has raised Rs 3,680 crore, or $501 million, through an institutional placement of units. The proceeds will be utilised to fund its recent proposed acquisition of an IT park in Bangalore.

Reliance Capital: Capital market regulator Sebi on Tuesday imposed a fine of Rs 1 lakh on Reliance Capital for violation of Depositories and Participants Regulations back in 2010. As per the regulations, depository participants are restricted from delegating their function to any other person, without the prior approval of the depository.

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