Market Opening - An Overview
SGX Nifty Futures were trading marginally lower by 0.04% at 17876.50, indicating that benchmark Indian indices may open flat-to-lower on Thursday.
Asian shares were trading lower, following losses in the US markets, as investors were worried over rising inflation. Japan’s Nikkei was down 0.80%, Topix lost 0.52%. Hang Seng tanked 1.39% and CSI 300 plunged 1.06%.
Indian rupee rose 10 paise to close at 74.27 against the US dollar on Wednesday.
Paytm and Sapphire Foods to make stock market debut today.
FII/DII Trading Data on Wednesday (17-11-2021)
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|*All numbers are in INR crore|
Stocks in News Today
Tata Motors: The automaker is planning to establish scrappage centres for vehicles under a franchise set up. The first centre is expected to become operational in the first quarter of the next fiscal year, a top company official said. The company said it has already started sending out a letter of intent (LOI) to the franchise partners to set up the scrappage facilities.
Infosys: The IT bellwether has signed a multi-year signature marketing partnership with Madison Square Garden Sports Corp (MSG Sports), Madison Square Garden Entertainment Corp (MSG Entertainment). It will be the Official Digital Innovation Partner of key MSG properties including the New York Knicks, New York Rangers, and the Madison Square Garden Arena.
Mahindra & Mahindra Financial Services: The company unveiled its vehicle subscription program called Quiklyz. The new venture aims to provide convenience, flexibility and choice to customers across cities, the company said. Initially, Quiklyz will be available in metro cities like Bengaluru, Chennai, Delhi, Gurugram, Hyderabad, Mumbai, Noida, Pune. It will further expand it to other cities across India, including tier-II cities, covering 30 locations over the next one year.
Vedanta: The company is considering restructuring of the mining behemoth that may include demerger and listing of the aluminium, iron & steel, and oil and gas businesses as standalone entities. “All the three businesses have great potential for growth and we think the model being evaluated will provide natural avenues for growth as well as enhance shareholder value,” said Anil Agarwal, its chairman.
Coal India Ltd: The public sector enterprise said its efforts to curb environmental pollution through the implementation of mechanised coal transportation and loading through coal-handling plants have resulted in a significant reduction of carbon dioxide (CO2) emissions and other air pollutants. The mechanised transportation of coal was through conveyor belts and loading by CHP/ silos under its first-mile connectivity (FMC) initiative.
SAIL: The company has supplied about 50,000 tonnes of steel for the Purvanchal Expressway in Uttar Pradesh. Prime Minister Narendra Modi on Tuesday inaugurated the 341-km-long Purvanchal Expressway, which connects Lucknow to Ghazipur in eastern Uttar Pradesh.