SGX Nifty points to a 70-point gap up opening for Nifty

KS Badri Narayanan Chennai | Updated on January 19, 2021

NSE has been directed to extend the agreement of Nifty-licensed products to SGX until the arbitration concludes   -  Bloomberg

Most Asian markets are trading with one per cent gain

Bears are likely to take a pause at least in early trade on Tuesday, as the signal from SGX Nifty and Asian markets points a gap up opening of 80 points even as the US markets closed in the red overnight.

The SGX Nifty is ruling at 14,370 as against Nifty futures' Monday close of 14,287. Most Asian markets are trading with one per cent gain.

Though the Nifty and Sensex benchmarks may open on positive note, analysts expect broader market to remain negative, as bears have tightened their grip in the last two days.

Results Calendar

Alembic Pharmaceuticals, Bank of Maharashtra, Bigbloc Construction, Ceat, CSB Bank, DCM Shriram, Gateway Distriparks, Hatsun Agro Product, HT Media, ICICI Lombard General Insurance Company, JSW Ispat Special Products, L&T Infotech, Mold-Tek Packaging, Network18 Media & Investments, Roselabs Finance, Skipper, Tata Communications, Tata Metaliks, Tata Steel BSL, TV18 Broadcast and Vardhman Special Steels

Stocks to watch

L&T Finance Holdings: The ₹ 3,000-crore rights issue will open on February 1. The company has informed the exchanges that it plans to raise Rs ₹ 3,000 crore through rights issue by offering 46.13 crore shares at ₹ 65 a share; shareholders as of January 22 are eligible to participate in the issue, and they will receive 17 shares for every 74 held in the company.

Cholamandalam Investment: Arun Alagappan has tendered his resignation as MD and Director of the company.

India Cements: Ace investor RK Damani, along with his family members, has increased his stake in the company marginally during December quarter.

Maruti Suzuki India has increased the price for select models owing to increase in various input costs. The price change varies across models and ranges up to ₹ 34,000 (Ex-Showroom - Delhi). The new prices are effective from Monday (Jan 18, 2021).

Infosys, the global leader in next-generation digital services and consulting, has informed the exchanges that it has been accredited with the Google Cloud Partner Specialisation in the data and analytics space. Infosys achieved this recognition by successfully demonstrating end-to-end capabilities on Google Cloud including data ingestion, streaming, querying, exploration, analysis, storage, and warehousing on cloud. Infosys is among the top global system integrators (SI) to be accredited with this specialization

Goa Carbon has announced that operations at the company's Paradeep Unit (Udayabata, Paradeepgarh, Jagatsinghpur, Odisha) has resumed.

The Kiln has been lit up from Monday. After preliminary heat up and commencement of feeding of raw material, normal production is likely to resume shortly, it informed the exchanges.

The Board of Directors of JMT Auto Ltd on Monday approved to sell a few non-core assets of the company comprising vacant Industrial plot, a few Residential flats and other plots of land. The total value of the asset being less than 5 per cent of the total net worth of the company as per the last Financial Year 2019-20, it further said.

IPO watch

The initial public offering of Indian Railways Finance Corp has subscribed 0.65 per cent on the first day of IPO. The IPO will close on Wednesday and ahead of the issue on Friday, it had raised ₹ 1,389.86 crore from anchor investors at ₹ 26, which is the upper end of the ₹ 25-26 price band fixed for the IPO.

Indigo Paints: The ₹1,170-crore IPO at a price band of ₹1,488- Rs. 1,490 will open for anchor investors today. The IPO for public will begin on Wednesday.

Published on January 19, 2021

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