SGX Nifty was hinting at a flat opening for domestic stock markets on Tuesday morning. Now, because the Union Budget, Both the benchmark indices, S&P BSE Sensex and NSE Nifty 50 have gained more than 12% every. “Based on the daily chart, Nifty / Sensex are moving towards 15500/52500 levels with minor resistance at 15360/52250 level and on the downside, 15270/51850 and 15100/51200 would be the big supports,” stated Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities. He advises investors to trim extended positions that are searching weak and book partial income exactly where returns have been abnormal.
Technically, Nifty is now approaching a important overhead resistance about 15475, which according to Nagaraj Shetti, Technical Research Analyst, HDFC Securities, exactly where minor profit booking could emerge. However, he does think that the brief-term trend of Nifty is positive. “The next upside levels to be watched around 15500 in the next few sessions. Immediate support is placed at 15200,” he added.
Vodafone Idea: Struggling telecom firm Vodafone Idea’s MD and CEO Ravinder Takkar on Monday stated that the enterprise will not wait for other telcos to raise tariffs and would do so itself when the time is appropriate. Takkar reiterated what other Bharti Airtel and Reliance Jio’s leading management has currently stated that tariff hike is important for the sector to sustain.
SIS: The enterprise announced that it will purchase back shares worth Rs one hundred crore at Rs 550 per share. Currently, the stock trades at Rs 426 apiece. Shares that will be purchased by SIS will be 1.23% of the total quantity of completely paid-up equity shares. SIS is a safety, facility management, and money logistics options firm.
Indiabulls Housing Finance: The mortgage lender is searching to raise Rs 7,500 crore more than the next two months, deputy managing director (DMD) Ashwini Kumar Hooda stated. The funds will be raised by means of overseas bonds, bank loans and securitisation, amongst other avenues.
Brookfield India REIT: The Rs 3,800 crore Brookfield India REIT will commence trading on the stock exchanges from today. This will make it the third REIT to publicly trade on BSE and NSE. Embassy Office Parks REIT and Mindspace Business Parks REIT are the other two listed REITs.
Results today: Nestle India, Varun Beverages, R Systems International, Schaeffler, Advent Computer Services, and GM Polyplast are some of the firms that are scheduled to announce their quarterly earnings today.