Nifty futures were trading 39 points or 0.22% on the Singapore Stock Exchange at 17,398.50, indicating a good start for BSE Sensex and Nifty 50 on Monday. On the previous trading day, BSE Sensex rose 277 points or 0.48% to 58,130, while the Nifty 50 index soared to 17,320. Technical analysts said that on the daily and daily charts, Nifty maintains a forward pattern below, indicating an upward trend from the current level. “Although the short-term trend remains positive, as traders may be more willing to profit near the 17500 resistance level, there may be some profitability. For traders following the trend, 17150 and 17000 may be important support levels. On the other hand, 17500 and 17700 may be important resistance levels in the market, “said Shrikant Chouhan, executive vice president of securities technology research at Kodak Securities.
stocks to watch
RIL: Reliance Strategic Business Ventures (RSBVL), a wholly-owned subsidiary of Reliance Industries Ltd, acquired a 57.06% stake in Strand Life Sciences for 39.3 billion rupees in cash. By March 2023, the company will also make additional investments of up to 1.6 billion rupees, increasing its total investment to 5.53 billion rupees. After that, the company’s shares will increase to around 80.3%, it said in the BSE report.
Reliance Communications: On Friday, the Supreme Court asked the government to respond to the petitions of Anil Ambani, Reliance Communication (RCL) and Reliance Telecom (RTL), demanding the refund of over 104 million euros in excess. Rupees, allegedly collected by the Ministry of Transport for an “illegal and illegal” deferred spectrum fee of 774 million rupees.
Jindal Steel and Power-Industrialist Naveen Jindalled Jindal Steel & Power (JSPL) obtained shareholder approval to sell its 96.42% stake in subsidiary Jindal Power (JPL) to Worldone (WPL) for 7,401 crore.
Dr. Reddy’s Labs: The company reached a final agreement with Citius Pharmaceuticals to sell the rights to its anticancer agent E7777 (denileukin diftitox).
Bank of Maharashtra: A senior official said that due to the improvement in economic sentiment, Bank of Maharashtra (BoM) is ready to make the total business volume exceed 300 million rupees soon. BoM Managing Director and CEO As Rajeev told PTI that the bank has performed well on several key parameters, including deposit mobilization, credit growth, recovery, and risk management.
Bharti Airtel: Moody’s Investors Service stated that Bharti’s rights issue is beneficial to the company’s credit because it pointed out that the new capital will maintain leverage during the ongoing process of 5G investment, spectrum cash payment and AGR-related settlement fees relatively stable.
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