News Shots

Even though vaccines are  being given in the UK, the new COVID strain is being spread exponentially. Prime Minister Boris Johnson has imposed a new stay-at-home lockdown until at least mid-February. He confirmed a complete shutdown of schools and businesses, similar to the very first nationwide lockdown back in March 2020.

HDFC reported its outstanding disbursements in the individual loan category have grown by 26% during the third quarter ended December 2020.

Income tax officials conducted raids at offices of engineering major Larsen & Toubro and media firm Zee Group for alleged GST evasion.

Sun Pharma has initiated Phase 2 clinical trial for a product being developed to treat patients with moderate to severe plaque psoriasis.

Jindal Steel & Power Limited during the third quarter of FY 21 with(JSPL) reported a 20% year-on-year rise in production to 19.3 lakh  December production reaching record high levels of 7.27 lakh tonnes, a rise of 30% YoY. Steel prices rallied yesterday.

Edelweiss Financial Services has raised over Rs 240 crore through the issuance of non-convertible debentures (NCDs).

RBI has said that the government and Life Insurance Corporation (LIC) of India should allow IDBI Bank to come out of the prompt corrective action (PCA) framework before they go ahead with the stake sale in the lender.

As part of its aggressive jump into the 5G telecom network space, IT major Tech Mahindra (TechM) said it is open to collaborating with Reliance Jio.

Jaykay Enterprises, a part of diversified JK Group, said it has entered into a joint venture partnership with Germany’s EOS, a global leader in 3D metal design and printing market, to address the need of 3D metal printing in India.

Larsen & Toubro(LT) has won a large contract worth Rs 2500-5000 crores from HPCL Rajasthan Refinery to set up a catalytic cracking unit.

Bajaj Finance’s assets under management rose 4.66% quarter-on-quarter to Rs 1.43 lakh crore in October-December quarter, however, it contracted 1% year-on-year. The company added 6 million new loans in Q3 as compared with 7.7 million a year ago. Further the total deposits of the NBFC rose to Rs 23,800 crore in Q3, up 17% year-on-year.

KNR Construction has received orders worth Rs 603.63 crore from Project Director, Highways (FAC), Chennai Kanyakumari Industrial Corridor Project.

National Fertilizers has achieved the highest ever production of 9.99 lakh Million Tonnes Urea in the third quarter of FY21.

IIFL Insurance Brokers Limited, a wholly-owned subsidiary of IIFL Securities, has received permission from IRDA for undertaking insurance e-commerce activities in lndia through Insurance Self Networking Platform.

MOIL will form JV with Gujarat Mineral Development Corporation for manganese ore mining JV in Gujarat.

What to expect today?

Yesterday, as expected again, profit booking kicked in but towards the end of the day, the vaccine rally emerged victorious. You can read all about yesterday’s movements here.

Bank Nifty is still trading within the range of 31,000 to 31,400. 31,000 acted as a support yesterday also. Watch out for breakout or breakdown opportunities from these levels.

As we have discussed earlier, there is Georgia election for 2 Senate Seats and Democrats are expected to win there. The US markets can give wild movements in the days to come.

US markets are heavily down. Asian markets are mostly down. SGX NIFTY is trading lower at 14,098, which is nearly 80 points lower, indicating a gap down opening in the Indian Market. 

Highest Call Open Interest at 14,200, followed by 14,500. Highest Put Open Interest at 14,000, followed by 13,900. The setup looks very bullish.

Foreign institutional investors (FIIs) net bought shares worth Rs 1843 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 715 crore in the Indian equity market.

Banks, giving a range bound movement yesterday, may breakout or breakdown today. Watch out for 31,000 as a support and 31,400-31,500 as resistance.

There will be volatility in the market. US Georgia elections and UK lockdown have brought in uncertainty into the market. Otherwise, with the Q3 results starting to flow in starting with IT, things look good here.

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