Domestic equity markets are expected to open on a cautious note, having hit lifetime highs in the previous trading session, according to early indications from SGX Nifty futures trading. Trends on SGX Nifty indicate a cautious opening of the index in India, with a gain of 19 points. As of 7:30 am, Nifty futures were trading at 14,592, up 19 points, on the Singapore Stock Exchange.
Asian stocks made early trading gains on Thursday after a mixed session on Wall Street, bolstered by expectations of a U.S. stimulus package even as political events in Washington resulted in the impeachment of President Donald Trump.
Stocks to watch in trade during today’s session (January 14)
Infosys reported better-than-expected earnings performance in the third quarter, with profits increasing 16.6% to Rs 5,197 crore and revenues 12% to Rs 25,927 crore. Infosys has raised growth forecasts of revenue for fiscal year 21 to 4.5% -5.0% in constant currency and increased the operating margin forecast to 24.0% -24.5%.
Wipro reported an increase of almost 21 percent in consolidated net profit to Rs 2,967 crore for the quarter ended in December. Revenue rose 1.3 percent to Rs 15,670 crore. In dollar terms, revenue rose 3.9 percent to $ 2.07 billion from the previous three months.
India Steel Authority
The government has offered to sell 206.5 million shares of Steel Authority of India through an Offer to Sell (OFS). He also has a greenhoe option to sell up to 20.65 crore of additional shares in the company. The floor price was set at Rs 64 per share. The OFS for non-retail investors will open on Thursday and the OFS for retail investors will start on Friday.