News Shots

Reliance Retail Limited, a subsidiary of Reliance Industries Limited, has signed a deal with farmers from Sindhanur taluk in Karnataka’s Raichur district for the purchase of 1,000 quintals of Sona Masoori rice, at a price higher than the MSP (Minimum Support Price).

Avenue Supermarts Ltd, the listed company which owns and operates retail chain D-Mart, reported a 16.39% increase in its consolidated net profit at Rs 446.95 crore for the third quarter ended December 2020.

Realty firm Sobha Ltd‘s sales bookings rose 29% YoY to Rs 887.6 crore in the third quarter this fiscal on high demand during the festive season.

The county’s largest IT company TCS reported a 7.2% jump in December quarter net profit to Rs 8,701 crore on a consolidated basis. The company suggested that the worst is behind by projecting double-digit revenue growth plans for next financial year.

Cipla is recalling over 5.8 lakh packets of a drug from the US market. It is used for the reduction in the occurrence of gastric ulcers.

Century Plyboards India-promoted Star Cement‘s two-million-tonne greenfield cement plant in West Bengal is ready and commercial production will begin soon.

State-run Shipping Corporation of India will collaborate with Inland Waterways Authority soon to start coastal shipping services.

Anil Ambani owned Reliance Infrastructure has completed the sale of its entire 74% stake in PKTCL to India Grid Trust for Rs 900 crore. The proceeds will be utilised for debt reduction, and the company’s dues will come down by 6 per cent to Rs 13,100 crore from Rs 14,000 crore.

With DHFL debt resolution process entering the final stage, Piramal Enterprises(PEL) on Saturday claimed that its bid provides a better offer to over 55,000 retail fixed deposit holders of the debt-ridden mortgage lender than the one made by US-based Oaktree Capital.

Vedanta promoter group has launched an open offer to buy 10% stake in the company. The parent has offered to buy up to 37.17 crore shares from public shareholders at Rs 160 apiece, which is a 12% discount to Friday’s closing price.

KEC International has won orders worth Rs 1,024 crore across various businesses.

Apollo Microsystems has bagged a supply order from Bharat Electronics worth Rs 49.86 crore with a clause for repeat orders, for a maximum of 120% of the units originally ordered.

What to expect today?

NIFTY saw an inflow of more than Rs 6000 cr from FIIs on Friday and as per our analysis, NIFTY closed above 14,300. You can read all about Friday’s movements here.

Bank Nifty, was not as bullish as NIFTY but the point to be noted is that 32,000 acted as a strong support again. It may continue its great bullishness till 32,500. Do watch out.US markets closed higher.

Europe also closed in the green. Asian markets are mostly trading in the green. SGX NIFTY is trading higher at 14,432, which is nearly 80 points higher, indicating a gap up opening in the Indian Market. Note the point that the US futures are down right now.

Highest Call Open Interest at 15,000, followed by 14,500. Highest Put Open Interest at 14,200, followed by 14,000. 

Foreign institutional investors (FIIs) net bought shares worth Rs 6,029 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 2,372 crore in the Indian equity market.

This week also will continue to offer good trading opportunities in IT stocks as TCS has already come out with such great results and more results from Infy, Wipro etc are coming in this week.

ADR of IT stocks are already trading higher in the US. IT Stocks will open with a gap up. Rejoice swing traders!

NIFTY Bank has broken out from 31,500 and 31,770. 32,500 (all time high) will be the next target. With all the good results coming in from the banks and HDFC Bank’s result due on the coming Saturday, do watch HDFC Bank and other good private banks!

FINNIFTY (NIFTY Financial Services Derivative) will start trading today. Let’s see how that goes.

Reliance had started to give good movement towards the end of Friday. Watch Reliance.

There is positivity all around. Fundamentally and technically the market looks bullish! There might be slight profit booking by DIIs here and there. But FIIs, if they continue to do what they are doing, they will definitely take the market up! 🚀 Opening above 14,400 is easy but sustaining that will be difficult. Let’s see.

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