Nifty futures turned unfavorable in early trade, ruling 15.50 points down at 17518 on Singaporean Exchange. Trends on SGX Nifty have been hinting at a unfavorable opening for BSE Sensex and Nifty 50 on the day of weekly F&O expiry. The industry may well be volatile on account of fragile international cues. Analysts say that US Fed and ECB’s choice with regards to stimulus tapering plans are the most awaited choices and would hold the markets oscillating. “The overall sentiment in the domestic market remains positive, as controlled Covid cases domestically and strong pick up in vaccination drive, has led to healthy pick-up in economic activities, thus reflecting in continuous improvement of macro data points and positive earnings expectation,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, mentioned.
Stocks to watch
Zee Entertainment, Dish Television: The boards of ZEE Entertainment Enterprises (ZEEL) and Dish Television will have to convene an EGM in 45 days and seek shareholder’s approval right after significant investors sought removal of particular directors.
Bharti Airtel, Vodafone Idea, RCom: The Union Cabinet on Wednesday authorized the substantially-awaited revival package for the telecom market, which is a mixture of money flow relief for the financially stressed operators as effectively as extended-term measures like redefinition of adjusted gross income (AGR) and scrapping of spectrum usage charge in future auctions.
Coal India: Coal India’s (CIL) overdues from gencos have come down to Rs 16,840 crore as of August 31 from Rs 22,000 crore at the commence of the fiscal, an above 65 per cent recovery in last 5 months.
Adani Transmission: Adani Transmission mentioned it has received a letter of intent for acquisition of MP Power Transmission Package-II for Rs 1,200 crore. It won the project by means of Tariff-Based Competitive Bidding (TBCB) procedure and received the letter of intent.
TCS: Tata Consultancy Services crossed the $200 billion milestone in industry cap on 15 September 2021. The stock hit an all-time higher of Rs 3,980 apiece.
Wipro: Wipro received multi-year IT managed services contract from Kuala Lumpur- headquartered Maxis Broadband Sdn Bhd, a top converged options provider.