Nifty futures had been trading 219.50 points or 1.51 per cent greater at 14,744 on Singaporean Exchange on Monday morning. In the preceding week, markets tumbled 3 per cent due to international correction led by the sharp spike in international bond yields along with a sudden boost in Covid-19 circumstances in a handful of Indian states. In today’s session, markets will react to GDP information for the October-December quarter of the present fiscal. India’s GDP grew .4 per cent in the Oct-Dec 2020 period compared with the identical period a year back. Market participants will also track movements in brent crude oil and rupee-dollar. According to a technical analyst, the market place has established a series of ‘lower top and lower bottom’ that would be unfavorable for the medium-term trend of the market place. Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, mentioned that the Nifty / Sensex would come across assistance at 14300/48000 this week. If the market place falls to 14300-14350 / 48200 without the need of meaningful bounce, then it would be a shopping for chance for brief term / medium term traders/investors.
Stocks in concentrate today:
RIL: Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiary of Reliance Industries Limited, announced that it has acquired further equity stake in its investee organization skyTran Inc. for a consideration of $26.76 million growing its shareholding to 54.46 per cent on a completely diluted basis.
Axis Bank: Axis Bank on Saturday mentioned its board has authorized a proposal to reclassify United India Insurance Company Ltd (UIICL) as a public shareholder category investor in the bank from promoter category.
Reliance Home Finance: Reliance Home Finance (RHFL) has defaulted on repayments of about Rs one hundred crore to lenders for December 2020, according to various disclosures on the stock exchanges. The mortgage lender was not capable to make timely repayments to Bank of Baroda, Punjab National Bank, ICICI Bank, HDFC Bank, Canara Bank, Bank of India and Indian Bank, amongst other folks.
South Indian Bank: South Indian Bank (SIB) mentioned on Friday that it has got its board’s approval to raise Rs 240 crore by issuing equity shares on a preferential basis from HDFC Life Insurance Company, Kotak Mahindra Life Insurance Company, SBI Life Insurance Company and ICICI Lombard General Insurance Company.
Bank of Maharashtra: The Reserve Bank of India on Friday mentioned it has imposed a monetary penalty of Rs 2 crore on Bank of Maharashtra for non-compliance with specific path on fraud classification and reporting.
Maruti Suzuki: Maruti Suzuki India (MSI) on Saturday mentioned it has accomplished the milestone of 20 lakh cumulative exports.The auto big accomplished the milestone as a batch of solutions comprising S-Presso, Swift and Vitara Brezza left for South Africa from the Mundra Port in Gujarat
Auto stocks: Automobile corporations will commence pouring in February sales information from Monday. Stocks like Maruti Suzuki, Ashok Leyland, Hero MotoCorp, Bajaj-Auto, Mahindra & Mahindra amongst other folks will be in concentrate today.