News Shots

A whistle-blower claimed UPL promoters siphoned off money, that is, they entered into rent deals with a shell company owned by its employees and paid crores of rupees in rent for properties owned by it. However, UPL called for a conference and denied claims made in the report and has stated that the whistleblower is not a member of the board. Also said the complaint was put to rest in 2017 and an audit committee had given a clean chit to the company.

SpiceJet has tied up with Om Logistics and also signed a deal with Snowman Logistics, for the transportation of an upcoming Covid-19 vaccine.

Tata Consultancy Services (TCS) is said to have plans to invest more than $100 million(~Rs 740 crore) in Austin and hire 1,000 new employees across Texas, US.

Muthoot Finance is planning to raise up to Rs 1,000 crore through a public issue of bonds to fund its business growth. 

Coal India Ltd has registered a 77% growth in e-auction sales, which stood at 68.3 million tonnes (MT) during the April-November months of this year.

HCL Technologies has set up its first delivery centre in Hanoi, Vietnam. They plan to hire more than 3,000 people over the next three years.

Equitas Small Finance Bank announced the launch of a 3-in-1 account that would allow its users to invest in different financial products.

Siemens is set to provide driverless train tech for Bengaluru Metro Rail Corporation Ltd (BMRCL). It would improve the efficiency and safety of the metro.

Ircon International has been awarded the work for upgradation of the Gurgaon-Pataudi-Rewari section of NH-352W. The deal is worth an amount of Rs 900 crores.

Info Edge has set up an Alternative Investment Fund(AIF) called Info Edge Venture Fund. The fund has a target capital of Rs 750 crore with an aim of investing in early stage technology companies.

What to expect today?

Yesterday, NIFTY fell heavily and took support at 13,400. Apart from NIFTY FMCG, all the sectors closed in the red. Click here for a detailed analysis of yesterday’s market and stock movements. 

Bank Nifty, was even more bearish and went down and took support at 30,200. Towards the end, heavy buying was seen in HDFC Bank and Kotak Bank.

US and European markets closed mixed Asian markets are mostly up. SGX NIFTY is trading at 13,534, which is 50 points higher, indicating a gap up opening in the Indian Market.

NIFTY is likely to trade between 13,450 and 13,650. 

Highest Call Open Interest at 14,000, followed by 13,500. Highest Put Open Interest at 12,000, followed by 13,000.

Foreign institutional investors (FIIs) net bought shares worth Rs 2,259 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 2,275 crore in the Indian equity market.

Both heavyweights HDFC Bank and Reliance fell yesterday. HDFC Bank is taking resistance at 1,400 and Reliance is taking support at 2,000.

Yesterday was the first time in 10 days where NIFTY did not create an all time high. Do  you think this is the beginning of a major fall?  Do comment down below, if you are on the mobile app.

The total number of call option contracts are much higher than the put option contracts indicating technical bearishness. But this can change over the day or the weekend. Fundamentally, the market is still bullish.

It was recommended that NIFTY cools down and NIFTY has cooled down. So it’s another week coming to an end. End it with a bang. Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!