Nifty futures turned negative in early trade, ruling 15.50 points down at 17518 on Singaporean Exchange. Trends on SGX Nifty were hinting at a negative opening for BSE Sensex and Nifty 50 on the day of weekly F&O expiry. The market might be volatile on account of fragile global cues. Analysts say that US Fed and ECB’s decision with regards to stimulus tapering plans are the most awaited decisions and would keep the markets oscillating. “The overall sentiment in the domestic market remains positive, as controlled Covid cases domestically and strong pick up in vaccination drive, has led to healthy pick-up in economic activities, thus reflecting in continuous improvement of macro data points and positive earnings expectation,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, said.
Stocks to watch
Zee Entertainment, Dish TV: The boards of ZEE Entertainment Enterprises (ZEEL) and Dish TV will have to convene an EGM in 45 days and seek shareholder’s approval after large investors sought removal of certain directors.
Bharti Airtel, Vodafone Idea, RCom: The Union Cabinet on Wednesday approved the much-awaited revival package for the telecom industry, which is a combination of cash flow relief for the financially stressed operators as well as long-term measures like redefinition of adjusted gross revenue (AGR) and scrapping of spectrum usage charge in future auctions.
Coal India: Coal India’s (CIL) overdues from gencos have come down to Rs 16,840 crore as of August 31 from Rs 22,000 crore at the start of the fiscal, an above 65 per cent recovery in last five months.
Adani Transmission: Adani Transmission said it has received a letter of intent for acquisition of MP Power Transmission Package-II for Rs 1,200 crore. It won the project through Tariff-Based Competitive Bidding (TBCB) process and received the letter of intent.
TCS: Tata Consultancy Services crossed the $200 billion milestone in market cap on 15 September 2021. The stock hit an all-time high of Rs 3,980 apiece.
Wipro: Wipro received multi-year IT managed services contract from Kuala Lumpur- headquartered Maxis Broadband Sdn Bhd, a leading converged solutions provider.