BSE Sensex and NSE Nifty 50 have gained over 12% each. “Based on the daily chart, Nifty / Sensex are moving towards 15500/52500 levels with minor resistance at 15360/52250 level and on the downside, 15270/51850 and 15100/51200 would be the big supports,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities. He advises investors to trim long positions that are looking weak and book partial profits where returns have been abnormal.SGX Nifty was hinting at a flat opening for domestic stock markets on Tuesday morning. Now, since the Union Budget, Both the benchmark indices, S&P
Technically, Nifty is now approaching a crucial overhead resistance around 15475, which according to Nagaraj Shetti, Technical Research Analyst, HDFC Securities, where minor profit booking could emerge. However, he does believe that the short-term trend of Nifty is positive. “The next upside levels to be watched around 15500 in the next few sessions. Immediate support is placed at 15200,” he added.
Vodafone Idea: Struggling telecom firm Vodafone Idea’s MD and CEO Ravinder Takkar on Monday said that the company will not wait for other telcos to raise tariffs and would do so itself when the time is right. Takkar reiterated what other Bharti Airtel and Reliance Jio’s top management has already stated that tariff hike is crucial for the sector to sustain.
SIS: The company announced that it will buy back shares worth Rs 100 crore at Rs 550 per share. Currently, the stock trades at Rs 426 apiece. Shares that will be bought by SIS will be 1.23% of the total number of fully paid-up equity shares. SIS is a security, facility management, and cash logistics solutions firm.
Indiabulls Housing Finance: The mortgage lender is looking to raise Rs 7,500 crore over the next two months, deputy managing director (DMD) Ashwini Kumar Hooda said. The funds will be raised through overseas bonds, bank loans and securitisation, among other avenues.
Brookfield India REIT: The Rs 3,800 crore Brookfield India REIT will commence trading on the stock exchanges from today. This will make it the third REIT to publicly trade on BSE and NSE. Embassy Office Parks REIT and Mindspace Business Parks REIT are the other two listed REITs.
Credit: Financial Express