Pre Market Analysis: Dalal Street may open lower; Maruti Suzuki, SBO, Vedanta in focus today

Market Opening - An Overview

SGX Nifty Futures was trading 0.63% lower at 17336, signalling that Dala Street is likely to open lower on Tuesday.

Asian shares slipped in early trade on Tuesday as investors expected quicker monetary policy tightening after Jerome Powell was renominated to head the Federal Reserve.

Indian rupee fell 16 paise to close at 74.40 against the US dollar on Monday.

Latent View Analytics will make its stock market debut on Tuesday after raising Rs 600 crore through the IPO. According to market observers, Latent View Analytics IPO grey market premium (GMP) was at about Rs 360.

FII/DII Trading Data on Monday (22-11-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Maruti Suzuki: Appellate tribunal NCLAT stayed the Rs 200 crore penalty imposed by the Competition Commission of India on the country’s largest carmaker Maruti Suzuki but directed the car maker to deposit 10% of the total amount within three weeks. In August, the CCI imposed a penalty of Rs 200 crore on MSIL for restricting discounts offered by its dealers and directed MSIL to desist from indulging in unfair business practices.

State Bank of India: The lender has partnered and signed a memorandum of understanding (MOU) with the Puducherry Cooperative Milk Producers Union (PONLAIT) to provide loan to individual dairy farmers. The amount of loan is up to a limit of Rs 3 lakh and the loan will be available under the bank’s YONO application. Meanwhile, SBI listed its $650-million green bonds simultaneously on the India International Exchange (India INX) and the Luxembourg Stock Exchange. SBI Managing Director Ashwini Kumar Tewari said in a statement that the listing of green bond with the Luxembourg Stock Exchange will open up new avenues for market development and fundraising opportunities in the green bond space.

Vedanta Ltd: The company’s promoters, Twin Star Holdings Limited and Vedanta Netherlands Investments B.V. are planning to buy 4.57% stake in the conglomerate. The offer price is fixed at Rs 350 per share valuing the block deal at Rs 5950 crore. The purchase offer type is an accelerated book building method, with JP Morgan India Pvt. Ltd serving as broker to the promoters.

DLF: The realty company’s rental arm has raised Rs 1000 crore through a private placement of listed, secured and redeemable non-convertible debentures to refinance its existing debt. The annual fixed coupon rate is at 6.7% and it is maturing in September 2024.

Airtel, Reliance Jio and Vodafone India: Airtel added 2.74 lakh mobile subscribers in September, as larger rival Reliance Jio lost 1.9 crore users and Vodafone Idea lost 10.77 lakh subscribers during the month, according to data released by telecom regulator TRAI. The subscriber base of Airtel stood at 35.44 crore in September as against 35.41 crore users in August. Jio had a subscriber base of 42.48 crore and Vodafone Idea’s subscriber base decreased to 26.99 crore.