Nifty futures have been noticed trading 35.75 points or .25 per cent greater at 14,075.50 on Singaporean Exchange, hinting a fresh record higher opening for BSE Sensex and Nifty 50 on Wednesday. Market participants will watch stock-precise developments, foreign fund flow, and Covid-associated updates for additional cues. Moreover, expiry of December series derivative contracts probably to maintain the stock marketplace volatile. “Now, 14000 is merely a formality and looks like we are going to end this year around this magical figure. For the coming session, 13975 – 14050 are the levels to watch out for; whereas on the lower side, supports are placed at 13900 – 13850,” mentioned Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking.
Stocks in concentrate today:
Vedanta Ltd: Promoters of Vedanta Ltd have pledged their holding in the organization to raise USD 1.4 billion, mainly for repaying the debt that was coming up for maturity. In a stock exchange filing, Vedanta mentioned its promoters raised USD 1 billion debt by issuing equivalent notes to Citicorp International Ltd.
RIL: Mukesh Ambani-led Reliance Industries Ltd informed that it has completed the acquisition of equity shares of IMGR. Accordingly, IMG-R has turn out to be a wholly-owned subsidiary of the organization. It mentioned that the holding of the organization along with IMG-R in Football Sports Development Limited (FSDL) is 65% and FSDL has turn out to be a subsidiary of the organization.
Jindal Steel Ltd: Jindal Stainless (Hisar) (JSHL) will be merged into group organization Jindal Steel (JSL), the management announced on Tuesday. It mentioned that the merger of JSL and JSHL will induce a simplified capital structure, expanding the turnover of the merged organization to about Rs 20,000 crore.
Adani Logistics, Snowman Logistics: Adani Logistics sold 40.55 lakh shares of Snowman Logistics at Rs 61.82 per share on the NSE, and 39.50 lakh shares at Rs 61.56 per share on the BSE.
NTPC, Torrent Power: The Andhra Pradesh government has received fantastic response to the bids invited by it earlier this month to construct solar energy capacity of one more 6,400 MW in the state. Adani Group, Torrent Power and state-run NTPC are learnt to be amongst the bidders, with Adani providing to the construct the biggest capacity individually.