News Shots

Adani Trading Services LLP, promoter of Adani Green Energy, on Monday offloaded shares worth nearly Rs 3,309 crore in the firm, through open market transactions. This happened last week also.

Yes Bank‘s board will meet on Friday to consider a proposal for further fundraising through various means, according to the private sector lender. The bank had floated a follow-on public offer (FPO) of Rs 15,000 crore in July 2020 to shore up its buffers that have fallen below the regulatory thresholds.

There are talks of a potential acquisition of Tata Steel‘s IJmuiden steel mill running out of steam as SSAB’s two largest shareholders are skeptical of the idea.

Maruti Suzuki India has increased the price for select models by up to Rs 34,000 to offset adverse impact of rising input costs.

L&T Finance Holdings said its board has fixed the price at Rs 65 per share for the Rs 3,000 crore rights issue which opens for subscription on February 1.

Indiabulls Real Estate reported a 64 per cent rise in its consolidated net profit to Rs 80.69 crore for the quarter ended December.

IT firm Mindtree reported a 65.7 per cent rise in its consolidated net profit to Rs 326.5 crore for the December 2020 quarter, and said its deal pipeline continues to be healthy and strong.

B2B e-commerce firm Indiamart Intermesh posted a 29 per cent rise in its consolidated net profit to Rs 80 crore for the third quarter ended December 31, 2020.

Apollo Hospitals QIP issue opens today. They intend to raise as much as Rs 1,000 crore through the sale of 40.7 lakh shares. The floor price for the QIP issue has been fixed at Rs 2,508.58 per share, which is a 3.4% discount to Monday’s closing price.

United Drilling Tools to set up a new manufacturing plant in Gujarat, near Mundra Port. The plant will be built over 35 acres with an initial capital outlay of Rs 15 crore and is proposed to be entirely funded through internal accruals. We expect 50-70% incremental revenues from this development in the coming 2 years, said Pramod Kumar Gupta, Chairman & Managing Director of the company.

Major Q3 results to be announced today:

  • L&T Infotech
  • ICICI Lombard
  • Tata Communications
  • CSB Bank
  • Alembic Pharma
  • Hatsun Agro
  • Bank of Maharashtra
  • DCM Shriram
  • CEAT

What to expect today?

NIFTY, as expected, fell yesterday with a lot of volatility. 14,400 was respected and NIFTY also found a new support at 14,26o. After a roller coaster day, NIFTY closed at 14,281. You can read all about yesterday’s movements here.

Bank Nifty, broke the support at 32,000 and closed at 31,811.

Every major sectoral index was in red, indicating a general correction in the market. NIFTY Metal fell the most – 4.1%.

Europe closed flat. US markets were closed yesterday. Asian markets are mostly up. SGX NIFTY is trading higher at 14,363, which is nearly 80 points higher, indicating a gap up opening in the Indian Market. 

There are some positive developments from the US. So, Biden had proposed detailed plans for a 1.9 trillion USD economic stimulus package last week. Now, he has nominated Ex Federal Reserve Chair Janet Yellen as the next Treasury Secretary and she has called for an aggressive Stimulus. This has brought in some positive sentiments in the global markets.

As I said in yesterday’s TSMS, NIFTY to open above yesterday’s close. Watch out for yesterday’s high and low. Most probably, we will see consolidation within yesterday’s levels today.

I’ll turn bearish if yeterday’s low is broken. I’ll turn bullish if yesterday’s high is broken.

Highest Call Open Interest at 15,600, followed by 14,500. Highest Put Open Interest at 14,000, followed by 13,500. 

Foreign institutional investors (FIIs) net bought shares worth Rs 650 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 42 crore in the Indian equity market.

It was good to see Reliance and HDFC Bank holding the markets together when everything else was burning around. Watch out for both of them today as well.

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