Nifty futures have been trading flat with a damaging bias in the early bargains on Tuesday, suggesting a flat opening for BSE Sensex and Nifty 50. In the preceding session, headline indices ended at a fresh record higher levels led by robust obtaining in finance, FMCG and banking stocks. Analysts say that Tuesday’s session would be exciting to watch out for, as close above 13360 will push Nifty 50 larger. “Buying is advisable only if Nifty falls to 13150/13100 levels. Pharmaceutical stocks should be in the focus list. Technology stocks are also due for a short term up move,” stated Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.
Canara Bank: The bank informed the exchanges stated it has set a floor cost of Rs 103.50 per share for its certified institutional placement (QIP) to raise up to Rs 2,000 crore. It has also informed that a meeting of the Sub Committee of the Board – Capital Planning Process of Board of Directors of the Bank is scheduled to be held on Thursday, December 10, 2020, to take into consideration and decide the problem cost for the Equity Shares as effectively the quantity of shares to be allotted to certified institutional purchasers, pursuant to the QIP.
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NTPC: NTPC has produced an give to invest in back its masala bonds worth Rs 4,000 crore from bondholders or lenders. According to business statement, the give include things like the rupee denominated Rs 2,000-crore 7.375 per cent notes issued on August 10, 2016, payable In USD and due on August 10, 2021.
Vodafone-Idea: The Supreme Court on Monday accepted the government’s suggestion to retain status quo on fresh demands or recoveries amongst it and Vodafone Idea till the a single-time spectrum charge (OTSC) case is ultimately decided in February.
HDFC Bank: The Reserve Bank of India’s (RBI) action against HDFC Bank in response to weaknesses in its digital infrastructure and operational resilience is credit damaging, rating agency Moody’s stated on Monday. On December 3, HDFC Bank announced that the RBI had asked the bank to temporarily cease all launches below its Digital 2. initiative and sourcing new credit card prospects.
Coal India: Coal India’s production and dispatch are most likely to get impacted partially on Tuesday as transporters have decided to observe ‘chakka jam’, pledging help to the December 8 ‘Bharat Bandh’ referred to as by farmers more than the new agriculture laws, PTI quoted a trade union leader as saying.
TCS: Tata Consultancy Services (TCS) on Monday stated it has hired more than 7,000 personnel in the UK more than the final 5 years, generating it amongst the major recruiters of IT services talent in that nation.