Nifty futures have been trading 39.50 points or .26 per cent up at 15,235.50 on Singaporean Exchange, indicating a positive opening for BSE Sensex and Nifty 50 on Thursday. According to an analyst, the quick term trend appears to have turned down and the close to term uptrend status remains intact for the Nifty. “The weakness of the last two sessions is expected to complete in the next 1-2 sessions. Important supports to be watched around 15000 and we expect market to show upside bounce from the lows. On the contrary side, a decisive move below this 15K mark could open more weakness in the short term,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities stated.
Stocks in concentrate today:
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Bharti Airtel: Bharti Airtel on Wednesday stated it will obtain 20 per cent stake in its DTH arm Bharti Telemedia from an affiliate of Warburg Pincus for about Rs 3,126 crore. The Warburg Pincus affiliate had acquired 20 per cent stake in Bharti Telemedia in 2018 following the announcement of the deal in December 2017.
Dixon Technologies, D-Link India: Stocks of ITI, Sterling Technologies, Tejas Network, Shyam Telecom, Dixon Technologies and D-Link India Ltd will be in concentrate as the Union Cabinet on Wednesday authorized a Rs 12,195-crore production-linked incentive (PLI) scheme for telecom gear manufacturing in the nation to enhance regional manufacturing.
Ambuja Cements: A total of 5 BSE-listed firms such as Ambuja Cements, Enkei Wheels, RCL Retail, Rollatainers and Twinstar Industries are scheduled to announce their quarterly earnings on February 18.
IndusInd Bank: IndusInd Bank has stated its promoter IIHL has completed its rights concern, which was oversubscribed at more than Rs 2,021 crore. The rights concern was oversubscribed and IIHL raised capital at an overwhelming premium of 1,400 per cent towards the subscription of this rights concern.
Magma Fincorp: Adar Poonawalla-controlled Rising Sun Holdings Pvt Ltd along with two other folks have created an open present to invest in an added 26 per cent stake in non-banking monetary enterprise Magma Fincorp for a consideration of more than Rs 1,391 crore.