SGX Nifty hints at possitive opening for markets, a day after benchmark indices tanked
HCL Technologies, Adani Ports, Future Retails, Crisil and Tech Mahindra are among the stocks in focus. Global reactions are however mixed as Wall Street ended Monday with losses.
SGX Nifty hints at a positive opening for domestic markets, a day after benchmark indices tanked. On Tuesday morning, Hang Seng, Topix and Nikkei 225 were trading with losses. Meanwhile KOSBI, KOSDAQ and Shanghai Composite were trading with gains.
Nifty respected the support of 14,200 which could lead to a potential increase in value. Let us talk about stocks in focus this week:
- HCL Technologies: The information and Technology firm, on Monday, informed the European stock exchanges that it has signed a deal with UD Truck, a leading Japanese commercial vehicle manufacturer. It is a multi-million digital transformation and hybrid cloud contract.
- Future Group stocks: Future Retail, Future Enterprises and other Future group stocks might observe some activity today. The Supreme Court on Monday stayed all the proceedings before the Delhi High Court linked to the implementation of the Singapore Emergency Arbitrator’s interim Award restraining the Rs 24,713-crore deal between Reliance Group and Future Retail. The matter was heard by a single judge, as well as a division bench of the Delhi High Court.
- Tech Mahindra: The IT and BPO firm said on Monday, that it has acquired a 100% stake in DigitalOnUs. The company will pay $120 million for the procurement.
- Crisil: In the January-March quarter, the company’s profit slipped to 83.5 crores from Rs 88 crore. The company has, therefore, declared an interim dividend of Rs 7 per share.
- Adani Ports and Special Economic Zones: Gautam Adani led firm said that it has allotted 1 crore equity shares of the face value of Rs 2 each fully paid up, to Windy Lakeside Investment on a preferential basis, at an issue price of Rs 800 per Equity Share, aggregating to Rs 800 crores.
- ACC Cement: The cement company reported a profit of Rs 563 crores in the previous quarter, a net profit jump from Rs 323 crore in the same period last year. ACC has kept a positive, yet cautious standpoint towards overall cement demand in the coming months.
Meanwhile, Network18 Media & Investments, Nestle India, Tata Steel Long Projects, Swaraj Engines, TV18 Broadcast, Welspun Investment and Commercials, among others will publish their quarterly returns today.