On the technical front, chartists say, domestic markets are still not out of the bearish grip and advise trading with extreme caution. “While we closed in the green, it cannot be summarized that we are out of the bearish woods. The Nifty would need to get past the 17800-17900 levels to restart the upward trajectory,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments. He added that until said levels are crossed, markets are sensitive to price and volume and a little shift in the sentiment can result in a downward spiral which can take the index to 16900-17000.
Latent View Analytics: The newly listed stock helped investors pocket stellar returns on its debut as the scrip soared a whopping 169%. However, at the end of the first day of trade, shares of Latent View Analytics were down nearly 8% from the listing price.
Vodafone Idea: The struggling telecom firm announced a hike in tariffs that would be effective from tomorrow. Vodafone Idea followed Bharti Airtel’s lead that had announced a price hike a day earlier. The company said that the increase in tariffs would help increase ARPU.
Reliance Industries: Mukesh Ambani’s Reliance Industries Ltd will be closely watched by investors today in anticipation of an announcement of tariff hike, following similar announcements by Bharti Airtel and Vodafone Idea.
Zee Entertainment Enterprises: On Tuesday, Punit Goenka, MD & CEO of ZEE said that the merger of ZEE and Sony Pictures is in the final stages. The deal was announced earlier this year, days after Invesco, a shareholder in ZEE, had called for an extraordinary general meeting (EGM) of shareholders seeking to remove Punit Goenka from his position.
Vedanta: On Tuesday, Twin Star Holdings and Vedanta Netherlands Investments together bought 13.78 crore shares, amounting to 3.7% stake in Vedanta. Individually, Twin Star Holdings and Vedanta Netherlands picked up 8.78 crore shares and 5 crore shares, respectively in the company.
Welspun Corp: Welspun One Logistics Parks has inked a memorandum of understanding (MoU) with the Tamil Nadu government to set up six warehouses across the state in the next five years. The projects will lead to a direct investment of Rs 2,500 crore, the company said on Tuesday.
Bank of Baroda: Country’s second-largest PSU lender, Bank fo baroda is planning to raise Rs 2,000 crore through the issuance of Basel-III compliant Additional Tier-I (AT1) bonds. The offer comprises a base issue of Rs 500 crore with a greenshoe option to retain oversubscription up to Rs 1,500 crore, according to the placement memorandum of the bank.