For the third trading session in a row, the Sensex and Nifty have rallied.
For the third trading session in a row, the Sensex and Nifty have rallied. According to Nagaraj Shetti, Technical Research Analyst at HDFC Securities, Nifty has formed a small negative candle with a long lower shadow on the charts. “From a technical standpoint, this indicates the formation of a long-legged doji candle pattern. A Doji formation after a reasonable up-move and at critical resistances usually signals a downward correction from the highs,” he added. According to Ajit Mishra, VP – Research, Religare Broking, Dalal Street will be looking at crucial macro data (CPI & IIP) on the fundamental side, which may provide further direction to the markets.
ITC : FMCG behemoth ITC may be back in action today after management announced that the company will host a ‘Institutional Investors and Financial Analysts Day’ next week on December 14. Yesterday, the stock had risen by 4%.
Reliance Industries: Mukesh Ambani’s Reliance Industries Ltd announced that it has received Rs 26,338.14 crore as the amount due on the Second and Final Call of the partly paid shares on 41.90 crore equity shares. This represents 99 percent of the total amount. The company has now credited the investors with fully paid up equity shares.
The private insurance company Star Health and Allied Insurance Company, backed by ace investor Rakesh Jhunjhunwala, will debut on the stock market today. During the three-day initial share sale, the IPO did not receive a full subscription.
Paytm’s parent company, One 97 Communications, announced that its Paytm Payments Bank has been granted Scheduled Bank status by the RBI. The Bank can participate in RFPs issued by the government and other large corporations, primary auctions, fixed-rate and variable-rate repos, and reverse repos, as well as the Marginal Standing Facility.
Valsartan Tablets have been launched in the United States by Dr Reddy’s Laboratories, a pharmaceutical company. The same is expected to sell for around $150 million in the United States.
HFCL: Through a qualified institutional placement of its equity shares, the company has raised nearly Rs 600 crore. HFCL issued 8.72 crore shares to investors at a price of Rs 68.75 per share, a Rs 3.58 discount from the stock price.
TVS Motor: The automaker announced on the stock exchanges that it has partnered with Active Motors SA, a Grupo Q subsidiary, for Nicaragua and Costa Rica, in an effort to expand its business in Central America. In Nicaragua and Costa Rica, Active SA Motors will help TVS Motor Company open three flagship stores and approximately 50 dealerships in a phased manner.