Domestic indices likely to open on a positive note on Thursday, hinted by the SGX Nifty.
Indian benchmark indices are likely to open on a positive note, hinted SGX Nifty. On the Singapore Exchange, Nifty futures were in the green at 18,088 level. In the previous session, Sensex closed above 61,250 and the Nifty settled above 18,000. “Technically, post the 17,900 breakout the market is comfortably trading above 17,850, which is largely positive. The Nifty has also formed a bullish candle and a higher bottom formation on intraday charts which supports further uptrend from the current levels,” said Shrikant Chouhan, Kotak Securities.
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Stocks in focus on 16 February, Thursday
Shree Cement is set to trade ex-dividend from February 16. The company has announced an interim dividend of Rs 45 per share for FY23.
Chambal Fertilisers & Chemicals saw its promoter entity Uttam Commercial offload 1.66 lakh shares (0.04% stake) on February 14 via open market transactions. With this, its shareholding in Chambal reduced to 1.63 percent, from 1.67 percent earlier.
Vedanta was declared the preferred bidderin ineral block auction conducted by the state government for Sijimali Bauxite Block located in Odisha. The bauxite reserves in the block are estimated to be 311 million tonnes. This news is expected to boost the company’s prospects in the aluminium industry.
Patel Engineering, has announced that it, along with its joint venture partners, has been declared the lowest bidder for carrying out projects worth Rs 1,567 crore in Madhya Pradesh and Maharashtra. These projects include the construction of a pressure irrigation system to supply water in Madhya Pradesh and the construction and commissioning of works comprising civil and allied works under the lift irrigation scheme of Krishna Marathwada Irrigation Project in Maharashtra. All projects are scheduled to be completed in three years.
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NTPC, state-owned power giant, will raise a term loan of $750 million in the Japanese Yen (JPY) denomination to finance its capital expenditure. The term loan would be for $150 million with a green shoe option of $600 million. This move is expected to help the company finance its ambitious growth plans.
Vodafone Idea is in advanced discussions with telecom equipment makers for its 5G rollout strategy and will comply with minimum 5G rollout obligations, according to its chief executive Akshaya Moondra. The company has already tested 5G compatibility with various OEMs in live clusters in Delhi and Pune and is finalizing its rollout strategy with network vendors. The carrier plans to launch its services in select cities soon.
Bharat Electronics signed an MoU with Israel Aerospace Industries (IAI) for the domestic manufacture and supply of its Long Range Artillery Weapon System (LORA) for the Indian Tri-services.
