BSE Sensex and Nifty 50 are anticipated to open in the positive territory on Wednesday, as recommended by trends in SGX Nifty. Nifty futures have been trading 40.50 points or .28 per cent up at 14,641 on Singaporean Exchange. In the preceding session, Sensex ended just shy of 50,000-mark, although Nifty rallied more than half a per cent and settled above the important 14,550. Today, corporate earnings are probably to induce stock-distinct action although COVID-19 vaccine rollout, oil costs and rupee movement will sway the industry sentiment. According to the technical analyst, the Nifty 50 index would take hold at the level of 14650/49800 or at 14700/50000 on Wednesday. “On the downside, the Nifty should find support between 14450 or at 14400. Our strategy should be to buy select stocks on dips or Index between 14460/14430 levels,” stated Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.
Stocks in concentrate today:
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Infosys, Wipro: A total of 10 BSE listed providers such as Infosys, Wipro,5paisa Capital, Amtek Auto, Asian Tea & Exports, CESC, Capital Trade Links, GTPL Hathway, Mideast (India) and Rajoo Engineers are set to announce their October-December quarter earnings later in the day today.
Bharti Airtel: Bharti Airtel stated pursuant to the FDI approval in January 2020 granted to it by the DoT, the organization has received essential approvals for its relevant downstream investments. Telecom giant additional stated it is initiating the method to revise its foreign investment limit, as notified to its depositories, to one hundred per cent with instant impact.
Tech Mahindra: Tech Mahindra stated it will obtain Payments Technology Services Ltd (PTSL) for USD 9 million (about Rs 66 crore). The acquisition will give Tech Mahindra access to IPs and licenses for two goods – Open Payment Framework (OPF) and Multi-Bank System (MBS).
Bharat Rasayan: The company’s board authorized the proposal of buyback of up to 93,472 equity shares or 2.2 per cent shares at Rs 11,500 apiece.
State Bank of India: According to the shareholding information on BSE, mutual funds decreased their stake to 12.72 per cent in the October-December quarter from 12.95 per cent in the preceding quarter. Similarly, LIC also lowered its shareholding to 9.74 per cent from the preceding 10 per cent and although foreign portfolio investors (FPIs) enhanced their stake to 9.82 per cent from 7.75 per cent in the stated period.
Tata Elxsi: Tata Elxsi on Tuesday stated its net profit has enhanced 39.5 per cent to Rs 105.2 crore for the December 2020 quarter. The organization had registered a net profit of Rs 75.4 crore in the year-ago period, Tata Elxsi stated in a regulatory filing. Its income from operations rose 12.7 per cent to Rs 477.1 crore for the stated quarter.
Tata Consultancy Services: TCS stated it will obtain GE’s stake in Tata Consultancy Services Saudi Arabia for USD 12,471 (about Rs 9.13 lakh). In September 2013, TCS announced the creation of an all-ladies organization method services centre in Riyadh (Saudi Arabia) in partnership with GE.