All eyes on the Budget pronouncements on Monday. There is a hope in the market that the Budget most likely will arrest the 6-day slide in the benchmark indices. Analysts are expecting Finance Minister Nirmala Sitharaman to present a growth-oriented and path-breaking Budget that will usher in all-round development.

SGX Nifty points a 50-point gap up opening for Nifty index on Monday as the former is ruling at 13,744 as against Nifty50 Feb futures Friday’ close of 13,709. Asia-pacific markets give a positive signal Japan, Taiwan, Shanghai (China) and Hong Kong markets edging up through the Australian market is flat but in green.

The S&P BSE Sensex on Friday plunged 1.26 per cent or 588.59 points to 46,285.77, while the Nifty50 index slumped 182.95 points to 13,634.60, as foreign portfolio investors resorted to heavy selling.

Stocks to watch

L&T Finance Holdings Limited: The ₹2,998.61 crore rights issue opens today. The company will issue up to 46.13 crore equity shares for cash, at a price of ₹65 per equity share on a rights basis to eligible equity shareholders in the ratio of 17 equity shares for every 74 held on the record date, that is January 22, 2021.

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KRBL: The Joint Managing Director of KRBL Limited, Anoop Kumar Gupta was detained by the Enforcement Directorate (ED) in the Augusta Westland case. He was subsequently sent to five day custody of ED. In a clarification to the stock exchanges, the company said Gupta was detained for further investigation into the affairs of Rawasi Al Khaleej General Trading (RAKGT) LLC, Dubai, where KRBL Ltd had indirect minority shareholding. The transactions in question happened after March 31, 2009, when, KRBL had already transferred its entire indirect shareholding in RAKGT. All transactions between KRBL and RAKGT after March 31, 2009, pertained to the sale of rice. Such transactions were duly made through the proper banking channel and were disclosed in compliance with the law. However, worried shareholders would await the further outcome on the issue.

Lumax Industries Ltd has announced that the enquiry operations were conducted by DRI at two of its locations at Gurugram, Haryana. The enquiries were made by the Department in the normal course. The company has extended full co-operation to the authorities and provided all requisite information sought by them, it said and added that the company will provide full cooperation as and when required. Shareholders would be keen to know further development and facts on this front.

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SPML Infra Ltd had received orders from various government agencies under joint venture arrangements where SPML’s share is ₹316.91 crore. The projects are to be executed in Uttar Pradesh (Patyora Danda, Kota Mustakil group of villages, Haraulipur group of villages and Lagon group of Villages).

Result Calendar: Some of the major companies that will declare quarterly results include Castrol, Coromandel, Finolex Industries, Mastek, MRPL, OnMobile, RBL, Reliance Capital, Reliance Infra, Subex, Suryalaxmi and Zyduswellness.

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