Stocks: The Indian equity indices BSE Sensex and NSE Nifty 50 could open higher on Tuesday, according to GIFT Nifty. Here are some important stocks to keep an eye on when trading.
Focused Stocks: GIFT Nifty opened higher on Tuesday, gaining 126.50 points, or 0.59%, at 21,703, signaling a bullish start for the domestic indices NSE Nifty 50 and BSE Sensex. Earlier on Monday, the BSE Sensex finished lower by 670.93 points or 0.93% to 71,355.22, while the NSE Nifty 50 fell 197.80 points or 0.91% to land at 21,513.
With a bearish engulfing candlestick formation, the Nifty closed the day near its support at 21,500 and the short-term 14-day moving average. This suggests a shift in the sentiment of the market. Nifty may go toward the following support level at 21,200 if closing statistics show a violation of 21,500. The immediate hurdle zone, 21650, is reached if the support of 21500 is maintained, according to Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
Bajaj Auto
With the intention of repurchasing 40 lakh fully paid-up equity shares at a price of Rs 10,000 each, or Rs 10 per share, Bajaj Auto has approved a Rs 4,000-crore tender offer.
Adani Enterprises
In order to make a significant investment of more than Rs 42,700 crore in a number of Tamil Nadu projects, the Adani Group has signed a Memorandum of Understanding (MoU).
Zee Television ( Zee Entertainment)
According to Bloomberg, Sony Group is considering terminating its $10 billion merger agreement with Zee Entertainment Enterprises.
Motors Eicher
An eight-year non-binding Memorandum of Understanding (MoU) between the Tamil Nadu government and Royal Enfield, an Eicher Motors affiliate, commits the latter to investing approximately Rs 3,000 crore in brownfield and greenfield projects.
Ashok Leyland
An agreement between Ashok Leyland and the Tamil Nadu government details the company’s intention to invest Rs 1,200 crore in the region throughout the following three to five years.
Finserv Bajaj
The Bajaj Alliance division of Bajaj Finserv reported gross direct premium of Rs 1,425.1 crore and a total new business premium of Rs 962 crore for December.
BEML
The Ministry of Defense has awarded BEML an order for Mechanical Minefield Marking Equipment Mark-II for Rs 329.87 crore.
Cipla
With Kemwell Biopharma and Manipal Education & Medical Group, Cipla’s UK division has formed a joint venture to develop innovative cell therapy solutions for significant medical needs in the US, Japan, and EU.
Brigade Enterprises
An agreement was reached between Brigade Enterprises and the Tamil Nadu government to invest more than Rs 3,400 crore in various development projects.
The Tata Motors
With a healthy order book, Tata Motors has recorded good year-over-year growth in both retail and wholesale sales for Jaguar Land Rover.
Adani Enterprises
An arbitration panel has granted Mumbai International Airport, a division of Adani Enterprises, relief from payment disputes with the Airports Authority of India during the Covid-19 period.
Gujarat State Chemicals and Fertilizers
A 1,32,000 MT installed capacity ammonium sulphate manufacturing plant has been put into operation in Vadodara by Gujarat State Fertilizers and Chemicals.
Mineral Development Corporation of Gujarat
The Ministry of Environment, Forests, and Climate Change has given Gujarat Mineral Development Corp permission to increase the Surkha(N) Lignite Mine’s capacity from 3 MTPA to 5 MTPA.
