SGX Nifty hinted at a mildly positive start for Indian domestic indices, BSE Sensex and NSE Nifty.
Indian benchmark indices are likely to open on a mildly positive note, hinted SGX Nifty. On the Singapore Exchange, Nifty futures were in the green at the 17,887 level. In the previous session, Sensex closed marginally at 60,691, down 0.5% and the Nifty gave up 17,850. “Stocks are getting beaten ahead of the release of Fed minutes on Wednesday. Maintaining its guard against inflation, the Fed is expected to remain hawkish. As expected, it is unlikely to have a dire effect on the global stock market. However, the consequence of constant high interest rates is causing a slowdown in demand & the earnings outlook, hence the near-term trend will be cautious,” said Vinod Nair, Head of Research, Geojit Financial Services.
Read More: How to use credit card to make UPI payments
Stocks in focus on 21 February, Tuesday
United Breweries: The National Company Law Appellate Tribunal (NCLAT) dismissed UBL’s appeal filed against the CCI order dated September 24, 2021. UBL then filed a statutory appeal against the order of the NCLAT before the Supreme Court of India, which decided to stay the order passed by the NCLAT including the CCI’s recovery proceedings, upon a condition of pre-deposit of additional 10% total penalty amount (over and above the amount already subsisting 10% deposit before the NCLAT) by UBL.
Asian Paints: Asian Paints (Polymers), a wholly owned subsidiary of Asian Paints, entered into a Memorandum of Understanding (MoU) with the Government of Gujarat to set up a manufacturing facility for Vinyl Acetate Ethylene Emulsion and Vinyl Acetate Monomer (VAM) at Dahej, Gujarat.
Bharat Electronics: The Delhi Metro launched India’s first ever indigenously developed Train Control & Supervision System, jointly developed by Bharat Electronics Limited (BEL) & Delhi Metro Rail Corporation (DMRC), the i-ATS (Indigenous – Automatic Train Supervision) for operations on its first corridor, Red Line.
Read More: How Post Office Monthly Pension Scheme Secures A Depositor Financially
BEML: BEML signed a Memorandum of Understanding (MoU) on 20.02.2023 with Delhi Metro Rail Corporation (DMRC) led SPV, who have been shortlisted for constructing the Bahrain Metro Rail Project Phase-1. As a part of this MoU, BEML will be responsible for manufacturing and supply of Metro Rolling Stock and DMRC will provide expertise in the fields of project development, budgeting and facilitating of contractual obligations.
ACC, Ambuja Cements: The firms stated that they will resume operations at Gagal and Darlaghat plants in Himachal Pradesh immediately. Both the firms’ new freight rates have been set 10-12% lower than the earlier rates.
United Spirits: The company’s board approved sale of all equity shares held in its non-operative wholly-owned subsidiary Sovereign Distilleries Limited (SDL) for Rs 32 crore.
