The main BSE Sensex and Nifty 50 indices are expected to start the week on a flat to positive note, after falling 1.2% last week. Clever futures were seen trading just 12.50 points at 15,007 on the Singapore Stock Exchange in early trading on Monday. A spike in coronavirus cases in some Indian states and rising bond yields have dampened investor sentiment. This week, GDP data is expected to be released. Nifty’s short-term trend remains weak, analyst says. “Friday’s late rally could signal the possibility of a slight upward rebound in the next session. However, a decisive move below 14950 could lead to further weakness towards the 14700-14500 levels in the near term. Immediate resistance is placed at 15115, ”said Nagaraj Shetti, technical research analyst, HDFC Securities.
Stocks in brief today:
V-Guard Industries: V-Guard Industries promoter and chairman emeritus Kochouseph Chittilappilly has sold 40 lakh shares in the company worth Rs 90 crore to fund social causes. “The sale of 40 lakh shares of V-Guard Industries Ltd executed on February 17, 2021 was intended to raise funds for two initiatives that I have undertaken as part of my commitment to social causes,” Chittilappilly said in a regulatory filing .
Housing Finance PNB: According to a regulatory filing, the Punjab National Bank will not participate in the fundraising plans of its housing finance subsidiary, PNB Housing Finance, but the company will continue to seek equity from other sources.
Coal India: The Center plans to authorize the sale of 50 percent of the coal / lignite produced by captive blocks, a measure aimed at increasing production and increasing the availability of dry fuel. The government plans to do this by incorporating a provision into the Mines and Minerals (Development and Regulation) Act 1957 (MMDR).
Jubilant FoodWorks: Jubilant Foodworks Netherlands BV, a 100% subsidiary of the Company, has entered into a purchase agreement with Turkish Private Equity Fund II LP to fully acquire Fides Food Systems Coöperatief UA, which owns 32.81% of the shares of DP Eurasia NV Jubilant Foodworks Limited has also executed the Purchase Agreement as a guarantor in connection with the investment obligations of Jubilant Foodworks Netherlands BV
Torrent power: Torrent Power said on Saturday that it had become the highest bidder for a 51% stake in an electricity distribution company in the Union Territory of Dadra & Nagar Haveli and Daman & Diu. Torrent Power currently distributes nearly 16.66 billion units to over 3.65 million customers
NTPC: State-owned NTPC on Saturday announced the commissioning of 5 megawatt (MW) solar capacity on a project in Auraiya, Uttar Pradesh. The capacity is part of its 20 MW solar photovoltaic project located in Auraiya, about 200 km from the state capital, Lucknow.