Nifty futures have been trading half a per cent or 88 points larger at 17693.50 on Singaporean Exchange, suggesting a record higher opening for BSE Sensex and Nifty 50. In today’s session, Nifty may well test 17700 levels. Analysts say that the industry may possibly be volatile on account of fragile worldwide cues, be concerned more than slower financial development, and increasing Delta variant circumstances globally. “Investors are cautious ahead of next week’s Federal Reserve meeting, awaiting indications on when the central bank will start withdrawing its monetary stimulus and start raising interest rates eventually. Valuations too are rich and hence could lead to bouts of profit booking,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services. mentioned.
Stocks to watch
ZEEL: The board of ZEE Entertainment Enterprises has decided to assistance its two former non-executive directors against whom corporate governance challenges have been raised. The board also refuted allegations made by proxy advisory firms.
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Bharti Airtel: Telecom dispute appellate body TDSAT on Thursday stayed the telecom department’s demand of Rs 1,376 crore from Bharti Airtel in unpaid previous dues that defunct telco Videocon Telecommunications owed.
Banking stocks: Finance Minister Nirmala Sitharaman announced the Union Cabinet’s approval for a government assure of Rs 30,600 crore for securities receipts issued by the National Asset Reconstruction Company (NARCL).
Ami Organics: Company’s shareholding pattern post IPO showed that promoters held 41.05 per cent stake and the remaining is held by public shareholders such as Plutus Wealth Management LLP (1.44 per cent), Malabar India Fund (2 per cent) and SBI MF (1.12 per cent).
Poonawalla Fincorp: Managing director of Poonawalla Fincorp Abhay Bhutada resigned on Thursday, a day just after getting barred from the securities markets by Sebi for alleged insider trading. Bhutada has resigned from the board with impact from September 16, 2021, Poonawalla Fincorp mentioned in a statement. Vijay Deshwal, CEO of Poonawalla Fincorp, will run the operations, the statement added.