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Market Opening - An Overview
Indian equity benchmark indices are likely to open higher on Tuesday as SGX Nifty future were trading 0.54% higher at 16,584.00.
Indian rupee rose by 17 paise to 74.22 against the US dollar on Monday.
Asian markets were trading higher on positive global cues as US FDA fully approved Pfizer-BioNTech COVID vaccine and tech-heavy Nasdaq Composite index rose to a record closing high. Japan’s Nikkei 225 gained 0.86% and the TOPIX index advanced 0.9%. MSCI’s broadest index of Asia-Pacific shares outside Japan were trading 0.33% higher. Hang Seng index jumped 2% in early trade on Tuesday.
FII/DII trading data on Monday (23-08-2021)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 7990.23 | 9353.59 | (1363.36) |
| DII | 6437.59 | 4985.08 | 1452.51 |
| *All numbers are in INR crore | |||
Stocks in News Today
Maruti Suzuki India Ltd: The Competition Commission of India (CCI) imposed a fine of Rs 200 crore on the company for anti-competitive practices with respect to Resale Price Maintenance (RPM) in the passenger vehicle segment by way of implementing Discount Control Policy vis-à-vis dealers. The CCI has ordered the automaker to cease and desist from such practices and also directed the company to pay the fine within 60 days.
Vedanta: The company said it had made a discovery of natural gas in a block in Gujarat that it had won in open acreage licensing policy. The company has notified the DGH and Ministry of Petroleum and Natural about the discovery and an approval of the management committee has been sought.
Indian Hotels Co: The company is planning to raise up to Rs 3,000 crore through a rights issue after getting relevant approvals from regulatory authorities, the company said in a notification to the exchanges. The company said the proceeds of the issue will be used for meeting capital expenditure, growth plans and debt repayment and it will be finalised in consultation with the merchant bankers.
Eiche Motors: The Board of Directors of Eicher Motors reappointed Siddhartha Lal as the company’s Managing Director with effect from May 1, 2021 and with a revised remuneration package. The final decision will be taken after shareholders’ approval. The revised remuneration structure for the managing director will have a cap of 1.5% of profits.
Hindalco Industries: The company is planning to invest about $3 billion on a consolidated basis in the next five years, its chairman Kumar Mangalam Birla said at the 62nd AGM. A part of the capital expenditure will be invested in Novelis’ business geographies such as auto-finishing line expansions in the US and China, and for expanding rolling and recycling capacity in Brazil.