Pre Market Analysis: Dalal Street likely to open lower; CIL, Dixon, UBI, Vedanta in focus today

Market Opening - An Overview

Nifty futures on the Singapore Exchange were trading 0.17% lower at 17,380, signalling that Dalal Street was headed for a negative opening on Thursday.

Asian markets were mixed as Japan’s equity indices were higher, boosted by investors’ sentiments after strong US indicators boosted Wall Street shares. Nikkei was up 0.68% and Topix was 0.33% higher.

Meanwhile, Chinese stock indices were lower as minutes from the Federal Reserve’s recent policy meeting suggested that it would taper its vast bond buying support faster than expected. Hang Seng fell 0.17% and CSI 300 was down 0.31%.

The Indian rupee rose 3 paise to close at 74.40 against the US dollar on Wednesday.

FII/DII Trading Data on Wednesday (24-11-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Coal India Ltd (CIL): The public sector enterprise is planning to invest about Rs 4000-5000 crore in capital expenditure over the next 4-5 years. The Rs 17,000-crore capital expenditure for the current fiscal is “on track”, said CIL chairman Pramod Agrawal. Most of the incremental capex will go into coal production and evacuation, he added.

Dixon Technologies: The company will be manufacturing 5 lakh laptops in India for Taiwanese IT hardware firm Acer, both companies said in a joint statement. It would be produced in the state-of-the-art manufacturing facility situated in Noida.

Union Bank of India (UBI): The lender has partnered with Capri Global Capital to disburse loans to MSMEs. Union Bank said that the co-lending agreement aims to enhance last-mile finance and drive financial inclusion to MSMEs by offering secured loans between Rs 10 lakh to Rs 1 crore.

Vedanta Ltd: The company aims to be the leader in ESG metrics in the natural resources sector and has committed to reducing carbon emissions to net zero by 2050. It has pledged $5 billion in the next 10 years to accelerate the transition to net-zero operations and also it has repurposed its mission statement.

Siemens Ltd: The company’s consolidated net profit slipped 2.6% to Rs 321.6 crore in the September quarter of 2021, mainly due to a rise in raw material and logistics costs. It has reported a consolidated net profit of Rs 330.2 crore in the year-ago period. The company’s new orders from continuing operation stood at Rs 3378 crore in the reported quarter, up 4.9% from 3220 crore in the year-ago period.