Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a tepid start on Thursday, a day of weekly F&O expiry day. Nifty futures were trading 24.50 points or 0.14 per cent down at 17784 on Singaporean Exchange. In the previous session, Sensex zoomed 695 points or 1.18% to close at 59,558 while the NSE Nifty 50 added 203 points or 1.16% to settle at 17,780. Analysts say that the short term trend of Nifty continues to be positive and there is no signs of any tiredness at the higher levels. “The next upside to be watched around 18000 mark, before showing any weakness from the highs. Immediate support is placed at 17650 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.
Stocks to watch
Future Retail: The Supreme Court on Wednesday said it will hear on February 8 Amazon’s appeal against a Delhi High Court order that stayed arbitration proceedings initiated by the e-commerce firm against Future Group before a Singapore tribunal. So far, Amazon had got reprieve from the tribunal, which had in an interim order restrained Future Retail from going ahead with its Rs 24,500-crore merger deal with Reliance Retail, as sought by Amazon.
Housing Development Finance Corporation: HDFC on Wednesday posted an 11% year-on-year rise in its net profit to Rs 3,261 crore for the quarter ended December 2021. The growth came on the back of a healthy rise in net interest income.
Adani Power: The Supreme Court on Wednesday said it will hear on Tuesday the joint application filed by Adani Power Mundra and Gujarat Urja Vikas Nigam (GUVNL), seeking modification of the apex court’s decision of July 2, 2019 as they had arrived at an out-of-court settlement in a dispute over termination of a February 2007 power purchase agreement (PPA) for supplying 1,000 MW of electricity.
Bharti Airtel, Vodafone Idea, Reliance Jio: The government fixing a very modest revenue target of Rs 52,806.36 crore in FY23 from the telecom receipts despite stating that 5G auctions will be held during the year, signals that it will ask for a very nominal upfront payment from the operators on the bid amount.
Tata Consumer Products: Tata Consumer Products, earlier known as Tata Global Beverages, on Wednesday reported a 22.19 per cent jump in its consolidated net profit to Rs 290.07 crore for the third quarter ended December 31, 2021, helped by volume-driven growth in the domestic market.
ITC, Titan Company, GAIL: BSE-listed companies such as ITC, Adani Transmission, Titan Company, GAIL (India), Godrej Properties, Adani Power, Cadila Healthcare, Lupin, Varun Beverages, PI Industries, Aditya Birla Capital, 3M India, Torrent Power, Aavas Financiers, Coromandal International and Emami are among the companies that will announce their December quarter results today.
Bharat Dynamics: Bharat Dynamics and Indian Army have signed a contract worth Rs 3,131.82 crore for manufacture and supply of Konkurs – M AntiTank Guided Missiles to the Indian Army. The order book position of BDL stands at Rs 11,400 Cr (net) including the Konkurs-M contract.
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