At 08:47 AM, Nifty futures on the Singapore Exchange (SGX) were trading 38.75 points, or 0.3 per cent higher at 12,989.80, indicating a positive start for the Indian market on Tuesday.
Here’s a list of stocks that may remain in focus today.
IT stocks: IT spending in India is projected to rise 6 per cent to $81.9 billion in 2021 compared to this year on the back of growth across segments like enterprise software and IT services, research firm Gartner said on Monday. IT spending in 2020 is expected to total $79.3 billion, down 8.4 per cent from 2019.
Exide Industries: The company has increased stake in its joint venture with Swiss firm Leclanche from 77.87 per cent to 80.15 per cent with a further investment of Rs 33.17 crore by way of subscription to equity shares of the JV.
Ingersoll-Rand (India): Ingersoll-Rand INC proposes to sell up to 1,425,798 equity shares (representing up to 4.52 per cent of the total issued and paid-up equity shares capital of the company on November 24 and 25. The floor price for the sale will be Rs 578.6 per equity share.
Aviation, hotel stocks may remain in focus the Maharashtra government on Monday imposed restrictions on all air and rail passengers arriving from Delhi, Gujarat, Rajasthan, and Goa. Passengers travelling from these states will have to obtain a negative RT-PCR test report before starting. Airline and travel sector executives said the move would discourage people from travelling and adversely impact demand.
Biocon has entered into an agreement on 21 November 2020 for the acquisition of a 26% equity stake on a fully diluted basis in Hinduja Renewables Two (HRTPL), a special purpose vehicle formed for the purpose of power generation and developing a captive power plant as per Electricity laws.
Indiabulls Housing Finance, IIFL Finance: Asset quality at non-bank lenders IIFL Finance and Indiabulls Housing Finance is “vulnerable” due to the economic contraction, global ratings agency Moody’s Investors Service said on Monday.
Coal India: State-owned Coal India on Monday said it plans to set up 14 rooftop and ground-mounted solar power projects of 3,000 Mw capacity by 2023-24, which will entail an investment of Rs 5,650 crore. CIL is mandated by the coal ministry to become a net zero carbon company. Solar power initiative is a part of CIL’s diversification plans, the PSU said in a filing to BSE.
Reliance Industries: The company on Monday informed that Jio Platforms Limited has received the subscription amount of Rs 33,737 crore from Google International LLC (a wholly owned subsidiary of Google LLC).
AU Small Finance Bank Ltd on Monday sold 35 lakh shares of Aavas Financiers Ltd worth Rs 530 crore through an open market transaction.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.