Nifty futures had been buying and selling 71.50 factors or 0.5 per cent up at 14,785.50 on Singaporean Exchange, suggesting a gap-up begin for BSE Sensex and Nifty 50 on Wednesday. According to a technical analyst, if the market breaks the 14630/49600 stage, the Nifty/Sensex may fall additional on the help of 14530/49300 ranges. However, a 50% retracement proven by the Nifty/Sensex after the announcement of the Union Budget may very well be a reversal for the market. “In short, there should be a buying strategy if the Nifty / Sensex falls to the 14530/14500 levels, however, if the Nifty closes below the 14500 level, it would indicate further weakness. On the upside, 14850/50350 and 14950/50750 levels would be the major obstacles,” mentioned Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.
Stocks in focus immediately:
GAIL, Tata Consumer Products: There will probably be replacements in 36 indices, together with Nifty 50, from March 31. The change’s Index Maintenance Sub-Committee (Equity) determined to make replacements in the indices as a part of its periodic assessment. In Nifty 50, Tata Consumer Products will change GAIL from March 31.
Zuari Agrochemicals: The Board of Directors of Zuari Agrochemicals accredited the sale of its fertilizer
plant at Goa and the related companies by means of a droop sale to Paradeep Phosphates Ltd for a lump sum consideration (Enterprise Value) of US $280 million (over Rs 1,100 crore).
Heranba Industries IPO: Heranba Industries IPO was subscribed 84 per cent on the primary day of the bidding course of. The retail portion was subscribed 1.56 occasions. the IPO is open for public subscription between twenty third February 2021 and closes on twenty fifth February 2021. The shares will probably be listed on NSE and
NTPC: NTPC knowledgeable that it has signed a share buy settlement to purchase GAIL’s 25.51 per cent stake in Ratnagiri Gas and Power Pvt Ltd (RGPPL), which is usually generally known as Dabhol undertaking. After the transaction is full, NTPC would have 86.49 per cent stake in the RGPPL.
Bharti Airtel: Bharti Airtel and Qualcomm Technologies will probably be collaborating for the rollout of 5G community in India. Airtel mentioned it would utilise Qualcomm’s open RAN-based platform to roll out virtualised networks. Airtel not too long ago demonstrated 5G over a reside business community in Hyderabad.
UPL: The Gujarat authorities issued a closure discover to UPL’s plant in Bharuch district late on Tuesday after a hearth and explosion on the agrochemical plant. The incident occurred in the early hours of Tuesday at Unit 5 of UPL’s Jhagadia plant in Bharuch district. As per official sources, not less than two individuals died, 20 had been injured and 5 are nonetheless lacking.