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Gift Nifty was trading around the 21,620 level, compared to Nifty futures’ previous close of 21,595, indicating a flat-to-positive opening for the Indian stock market indices.
Asian markets traded lower while the US stocks ended in the red overnight after the US Federal Reserve meeting minutes indicated interest rates would remain elevated for longer
A spike in crude oil prices amid increasing geopolitical tensions in the Middle East is also likely to weigh on sentiment
STOCKS TODAY
Reliance Industries: Subsidiary Reliance Jio, with a 39.3 percent market share in the wireless subscriber base, added 31.59 lakh users in October 2023 as against 34.75 lakh users added a month back.
Adani Ports and Special Economic Zone: The Adani Group company said the board members have approved the raising of funds up to Rs 5,000 crore through non-convertible debentures (NCDs) in one or more tranches. Further, due to internal restructuring, the board has also given its approval for the re-designation of Gautam S Adani, chairman and managing director of the company, as executive chairman, and Karan Adani, whole-time director and CEO of the company, as managing director, with effect from January 4
Larsen & Toubro: The infrastructure major has completed the sale of its entire stake in L&T Infrastructure Engineering to STUP Consultants consequent to the completion of customary conditions precedent, as agreed under the Share Purchase Agreement. Consequently, L&T Infrastructure Engineering has ceased to be a subsidiary of the company.
Jio Financial Services: Jio Financial and BlackRock Financial Management have filed papers with the capital market regulator, the Securities and Exchange Board of India (SEBI), to launch mutual fund businesses in India. The in-principle approval is under consideration with SEBI, as the companies, as joint ventures, filed their applications on October 19 and showed the updated list of mutual fund applications as of December 31.
Tech Mahindra: The company has appointed Richard Lobo as the chief people officer of the company with effect from January 3 and is designated as a senior management personnel. Outgoing CPO Harshvardhan Soin takes over as the president for Asia Pacific and Japan with effect from January 3 and will continue to be designated as senior management personnel.
Bharti Airtel: The telecom operator has a 32.85 percent market share in the wireless subscriber base, adding 3.52 lakh users in the month of October 2023 against 13.2 lakh users added in the previous month. As of October 2023, the private access service providers held a 91.75 percent market share of the wireless subscribers, whereas BSNL and MTNL, the two PSU access service providers, had a market share of only 8.25 percent
Vedanta: More than 97 percent of Vedanta Resources (VRL) bondholders approved the restructuring of $3.2 billion worth of bonds due to maturity in the next three years. With this, the mining conglomerate has secured the required approval from at least two-thirds of the bondholders to proceed with the restructuring plan