Pre Market Analysis: Dalal Street may open lower; Future Retail, HDFC, Indiabulls in news today

Market Opening - An Overview

SGX Nifty Futures plunged 1.04% to 17395, indicating that Dalal Street was headed for a negative opening on Friday.

Asian shares were trading lower as a new variant of coronavirus weighed on investors’ sentiments. Japan’s Nikkei plunged 2.44%, Topix tanked 1.89%. Hang Seng dropped 1.81% and CSI 300 was down 0.45%.

Indian rupee fell 12 paise to close at 74.51 against the US dollar on Thursday.

Oil prices tanked more than 1% on concerns over higher supply following a coordinated effort to release crude reserves among major consumers. US crude prices fell 1.7% at $77.04 per barrel and Brent prices was down 1.2% to $81.26 per barrel.

FII/DII Trading Data on Thursday (25-11-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Future Retail: The company has been accused of financial irregularities by Amazon and the US e-commerce company has written to Future’s independent director about the same. In addition, Amazon has also written to  Ajay Tyagi, Chairman of Securities and Exchange Board of India, seeking to withdraw the regulator’s conditional approval granted to FRL related to the merger deal between the Future group and Reliance. The letter has also been sent to top officials of the stock exchanges.

HDFC: The mortgage lender will raise up to Rs 10,000 crore by issuing bonds on private placement basis to augment its long-term capital. HDFC will issue secured redeemable non-convertible debentures (NCDs) on private placement basis with an issue size of Rs 2,000 crore and option to retain over-subscription of up to Rs 8,000 crore. The proceeds of the issue would be utilised for financing or refinancing the housing finance business requirements of the company.

Indiabulls Housing Finance: Societe Generale and BNP Paribas Arbitrage have sold 51 lakh shares of Indiabulls Housing Finance for about Rs 113 crore through open market transactions. Societe Generale sold 27.40 lakh shares of Indiabulls Housing Finance while BNP Paribas Arbitrage divested 23.59 lakh shares of the company. The shares were sold in the range of Rs 221.34-221.75 per share, valuing the transaction size at Rs 113 crore.

JSW Energy: The company’s board of directors has approved the re-organisation of the company’s renewable and thermal businesses. As a result, all the existing and upcoming renewable energy businesses will be housed under JSW Energy Neo Ltd., its wholly owned subsidiary of the company. The company said that this re-organisation will help them in building and streamlining its renewable portfolio and setting up a holding structure which is efficient for fund-raising and unlocking value for shareholders.

Indian Oil Corp: The company has paid a dividend of Rs 2424 crore to the Indian government, according to DIPAM Secretary Tuhin Kanta Pandey. During the current financial year, so far Rs 20,222.40 crore has been received as dividend from central public sector enterprises.

Coal India Ltd: The coal ministry said that the company is engaged in further consolidating its sustainable development goals. In many of the backward and remote hamlets of the country, CIL and its subsidiaries are bringing about tangible improvements in basic amenities and progress in the living standards of the villagers, the ministry added.