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Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
Nifty50 index is likely to open with a downward gap of 60 points on Thursday, as an indication from SGX Nifty points bearish signal. The SGX Nifty is ruling at 15,065 as against Nifty50 Feb futures Wednesday’s close of 15,119.
Asia-Pacific markets remain range-bound with a mixed trend. While Japan’s benchmark indices and China eked out marginal gains, those of Hong Kong, Australia and Thailand are ruling with moderate losses.
Overnight, the US markets closed on mixed tone with Dow ending in green while Nasdaq and S&P-500 dipping into the red, albeit only marginally.
Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, said, the overall long term structure of the market remains positive given the confluence of economic recovery, containment of Covid-19, earnings beat, and an expansionary Budget.
“However, with markets hitting multiple new highs and valuations largely factoring in an earnings recovery, one should trade cautiously with stock specific actions and book profit intermittently,” he said and added: “In the near term, the market would actively track key macro data like IIP, CPI and WPI data along with global cues”.
Magma Fincorp: Rising Sun Holdings, Adar Poonawalla-owned company, has entered into a deal to acquire controlling stake in Magma Fincorp for ₹3,456 crore, through a preferential allotment and open offer route. Besides, Rising Sun Holdings along with Sanjay Chamria and Mayank Poddar will also launch mandatory open offer to acquire up to 26 per cent stake at ₹70 a share.
National Fertilizers: The government plans to sell 20 per cent stake in National Fertilizers through an offer for sale. The government holds 74.71 percent stake in the company and has invited merchant bankers to handle the deal.
Suprajit Engineering: The board of Suprajit Engineering has approved a proposal to buy-back up to 15 lakh shares of the company for ₹48 crore at ₹320 a share. The company has fixed February 22 as the record date.
Results Calendar: ACC, Ashok Leyland, Ashapura Minechem, Atul Auto, Bajaj Hindusthan Sugar, Bayer Cropscience, Bosch, Capacite Infraprojects, Coal India, Crisil, GIC India, Graphite India, Gujarat Pipavav Hudco, Infibeam Avenues, ITC, ITDC, ITD Cementation, Jaypee Infratech, KNR Constructions, MRF, Natco Pharma, NCC, NHPC, Oil India, Petronet LNG, Power Grid Corporation, Power Finance Corporation, Prestige Estates Projects, Spencers Retail, VA Tech Wabag and Zee Media Corporation are among 442 companies to announce their quarterly earnings.
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
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