News Shots

Our favourite Tata Consumer is likely to join Nifty 50 in March. The stock may replace GAIL in the index.

Bharat Forge’s German subsidiaries  reached a settlement with Germany’s national competition regulator – Bundeskartellamt. This was in connection with two separate cases. They have reached a settlement for a total amount of €32 million to be paid over the next 5 years.

Recently gone public UTI AMC’s UTI Small Cap Fund has received huge interest from investors during the NFO (New Fund Offer), last week  The scheme attracted more than 86,000 applications, aggregating to more than Rs 920 crore.

The Union cabinet has approved the proposal for revision of guidelines for D2H services in the country. License will be provided for 20 years instead of 10. DTH license fee reduced to 8% of Annual Gross Revenue (AGR) from 10% earlier. 100% FDI has also been allowed in the industry from the earlier 49%. Dish TV has already moved up after this news.

CG Power and Industrial Solutions has inaugurated a new Motor manufacturing facility ‘Smart LV Motors’ at Ahmednagar in Maharashtra. The new facility will be manufacturing Smart Electric Motors with power from 75 kW to 1000 kW.

AU Small Finance Bank has launched its new-gen Mobile Banking App and NetBanking Portal to provide a better digital experience to customers.

Tata Communications’ foreign subsidiary, Tata Communications International Pte, has completed a transaction of investment with OASIS Smart SIM Europe SAS.

Zee Media Corporation board has approved raising funds through Non Convertible Debentures, worth up to Rs 250 crore. The coupon rate has been fixed at 9% per annum.

Bharti Airtel has added the highest number of active subscribers at more than 30 lakh in October. The active user base rose 1% month-on-month(MoM). Meanwhile, the Active user base for Reliance Jio increased by 0.3% MoM, or 11 lakh. Vodafone Idea fell by 12 lakh, or 0.5% MoM.

Vedanta Resources, after failing to garner the required number of shares to delist its Indian arm Vedanta in October, will buy around 4.9 per cent stake on Thursday through block deals.

Mrs Bectors Food Specialities, which recently concluded its Rs 541-crore initial public offering, will make its debut on the stock exchanges today.

Business process management (BPM) services provider Firstsource Solutions has acquired US-based PatientMatters, a healthcare revenue cycle management (RCM) solutions provider, for $13 million (over Rs 95.7 crore).

What to expect today?

Yesterday, as discussed, after crossing 13,500, NIFTY was on an absolute uptrend, creating higher highs and higher lows. NIFTY moved from under 13,500 and closed above 13,600. You can read all about yesterday’s movements here.

Bank Nifty also climbed back up well and is testing the resistance at 30,000.

The US markets ended mixed, with NASDAQ closing in the red. The European markets moved higher. Asian markets are mixed, mostly positive. SGX NIFTY is trading higher at 13,660, which is nearly 50 points higher, indicating a gap up opening in the Indian Market.

IT stocks have been leading the recovery rally here. Now that NASDAQ ended in negative yesterday, keep an eye on the IT stocks.

Huge OI shifts have happened and it suggests resistance at 13,700 and support at 13,500. After quick up moves for 2 days, it is natural for the market to consolidate today. Consolidation is expected between 13,500 and 13,700.

Highest Call Open Interest at 13,700, followed by 13,800. Highest Put Open Interest at 13,000, followed by 13,500. 

Foreign institutional investors (FIIs) net bought shares worth Rs 536 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 1326 crore in the Indian equity market.

FIIs are back on the buying spree, but the volumes have definitely decreased. DIIs are still selling with full power.

There is also a report from the UK saying a mutation of the current mutation of the corona virus has also been identified, which is more deadly than the current mutation. The latest mutation is tracked to have come from Africa. Are things getting out of hand?

Today is the last trading day of the week. And after today, only 4 more trading days in the year. Volumes might decrease, adding to the volatility. So, looking at the OI data (which has been shifting crazily), NIFTY should expire between 13,500 and 13,700 today.

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