Vodafone Idea which had been issued a show-cause notice by DoT over non-payment of licence fee in seven circles has now made full payment with interest.
Mahindra & Mahindra, Tata Motors, Bajaj Auto said their different factories in Maharashtra are operating with lower levels of manning while adhering to specified protocols in the wake of restrictions imposed by the state government.
Wipro posted a 27.7 per cent jump in consolidated net profit at Rs 2,972 crore for the March 2021 quarter, and exuded confidence of sustaining strong growth momentum in the coming quarters.
Within 48 hours of re-opening bookings for its electric scooter Chetak, Bajaj Auto put the brakes as it stopped taking bookings due to supply chain uncertainties.
Nettle Infrastructure Investments, a wholly-owned arm of Bharti Airtel, has acquired 100% stake in OneWeb India Communications Pvt Ltd, in an all-cash deal for an undisclosed sum.
Bharat Petroleum Corporation Ltd will supply medical oxygen to Kerala from its Kochi Refinery to meet shortage of the same for critical patients of COVID-19.
The government’s e-governance services arm CSC announced a collaboration with Tata Power to set up solar-powered micro grids and water pumps in rural areas across the country.
Ashok Leyland along with Hinduja Leyland Finance has incorporated a company to take care of the freight mobility business.
Increasing coronavirus cases have resulted in a scarcity of medical oxygen in the healthcare industry, putting the spotlight on Linde India, a supplier of medical oxygen to hospitals and industrial gases to corporations.
What to expect today?
Yesterday, NIFTY was crazily volatile, moving down by 200 points in the first 2 hours and then moving up by 200 points in the last 2 hours. You can read all about yesterday’s movements here.
Bank Nifty was equally volatile but more bullish than NIFTY. It closed more than 1% up above 32000.
Surprisingly, when almost all sectors performed well, Auto and PSU Banks ended in red.
Both the European and US markets moved up steadily and closed firmly in the green and all time highs.
Asian markets are also mostly in the green, but flat. US and European Futures are mostly down. SGX Nifty is currently trading higher at 14,630 indicating a gap up to muted opening in the Indian market.
The US Treasury Bond Yield has fallen steeply. Let’s see if our market will go up because of this.
TCS regained the losses. Infy tried moving up yesterday itself. Today’s focus should mostly be on Wipro.
HDFC Bank can also be watched today ahead of its result announcement tomorrow.
The next supports for NIFTY are at 14,500, 14,470, 14,400 and 14,300 while for Bank Nifty, they are at 32,000, 31,650, 31,350 and 31,000.
The next resistances for NIFTY are at 14,650, 14,750 and 14,800 while for Bank Nifty, they are at 32,350.
Foreign institutional investors (FIIs) net bought worth Rs 979 crores, and domestic institutional investors (DIIs) net sold shares worth Rs 526 crores in the Indian equity market.
The COVID situation is still fearful. Number of cases per day in Delhi has hit an all time high. The Delhi government announced a weekend lockdown.
The markets showed strength in the way it closed yesterday. FIIs have turned net buyers also. So let’s expect the markets to show some strength!
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