Stocks

Markets expected to open firm on bullish global cues

K.S. Badri Narayanan | Updated on January 08, 2021

Hindustan Constrution, Jain Irrigation, NHPC and Tata Power likely to see action today

The Indian equity markets are expected to open on a positive note on Friday, thanks to bullish global cues. The SGX Nifty is ruling at 14,269.50, over 75 points higher than Thursday’s Nifty futures close of 14,204 at NSE.

US stocks closed at a record high on expectations that a Democratic Party-controlled Congress will deliver more stimulus spending.

The focus will shift to stock specific action with the Q3 results season beginning, with IT bellwether TCS declaring its results.

 

Stocks in focus

Hindustan Construction has defaulted on Rs 1,770 crore of loans as of December 31. The stock may come under selling pressure.

Jain Irrigation is seeking to pare its debt by restructuring a $200-million bond.

NHPC has said the NCLT has approved its resolution plan for Jalpower Corp.

Tata Power has bought a 51 per cent stake each in TP Southern and TP Western Odisha for Rs 383 crore.

 

 

Published on January 08, 2021

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