Nifty, Sensex continue to trade weak. (Image: REUTERS)
Domestic markets continue to trade weak amid rising covid-19 cases across the globe. On the charts, analysts say, the structure suggests selling on the rise, said Rohit Singre, Senior Technical Analyst at LKP Securities. “Nifty failed to move above 17600 zone & witnessed profit booking so going forward also strong hurdle will be 17600 zone and prior to that 17500 zone, immediate support is coming near 17350-17300 zone for strength index to need to decisively crossed above 17600 zone,” he added. Volatility is expected to be high today on account of the F&O expiry.
Reliance Industries: Billionaire Mukesh Ambani’s Reliance Industries informed the stock exchanged on Wednesday that it has decided to implement a Scheme of Arrangement to transfer Gasification Undertaking into a Wholly-Owned Subsidiary. The company said that the move enables RIL to evaluate unlocking the value of syngas, with a collaborative and asset-light approach.
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Siemens: The company said its net profit dipped 2.6% to Rs 321.6 crore in the July-September 2021 quarter, mainly on the back of a rise in raw material and logistics costs. Its consolidated net profit had stood at Rs 330.2 crore in the quarter ended on September 30, 2020, according to an exchange filing.
Coal India: Coal India chairman Pramod Agrawal, on Wednesday, told investors that the company is aiming at investing Rs 40,000-50,000 crore as capital expenditure in the next 4-5 years. Coal India plans to spend Rs 17,000 crore on capex in the current financial year.
Dixon Technologies: The company has tied up with Taiwanese IT hardware firm Acer to manufacture up to 5 lakh Acer laptops annually. Dixon Technologies is one the contract manufacturers that has qualified for the PLI scheme for IT hardware.
JM Financial: The company has launched Bondskart, a digital investment platform that offers investors access to debt securities. Customers will be able to sell and buy debt securities online through the platform.
Central Bank: The lender informed the stock exchanges that it has no information about any proposed privatisation. “There is no such negotiation/event taking place at the level of Central Bank of India,” the bank said.
Indian Overseas Bank: The bank said that it has not received any communication regarding privatization of Bank from DFS/ Government of India and is unaware of the reasons for the sudden movement in stock price.
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Reliance Industries, Dixon Technologies, Central Bank, Coal India among stocks in focus today - Financial Express
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