Stock market participants’ focus will now remain on RBI’s policy meeting this week. Apart from this, markets will also react to monthly auto sales number data
The short term trend of Nifty remains positive, Bank Nifty may rise. Vedanta, Havells India and Adani Group stocks in focus on Wednesday
Vedanta will likely have enough liquidity until December 2023, as per rating agency S&P Global Ratings. The natural resources group has debt servicing obligations of about $3 billion, including interest and inter-company loans. It will have at least another $1 billion obligation that would require funding until March 2024
Havells India has entered into a commercial agreement with Swedish tech startup Blixt Tech AB to introduce Solid State Circuit Breaker (SSCB) technology in the domestic market
Adani Group’s joint venture with data centre provider EdgeConneX is reportedly in talks with about half a dozen banks for a loan of $220 million. This would be the conglomerate’s first offshore borrowing since the Hindenburg report against the conglomerate
IT company Cyient has rejigged top management roles with the elevation of its managing director and CEO Krishna Bodanapu to the position of executive vice-chairman and MD. The company has elevated executive director (ED) and Chief Operating Officer Karthik Natarajan as ED and CEO
Lenders to Anil Ambani-promoted Reliance Capital have decided to delay the proposed auction of the distressed financial services company until April 11. Besides Torrent Investments and Hinduja entity IndusInd International Holdings, Oaktree Capital have reportedly shown interest in participating in the auction
“The short-term trend of Nifty continues to be positive. The next upside levels to be watched are around 17,800 in the next 1-2 weeks. Immediate support is placed at 17,300 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities
“Bank Nifty trend will remain positive as long as the index sustains above 40,000. On the higher end, immediate resistance is visible at 41,000; above 41,000, the index may move towards 42,000 over the short term,” said Rupak De, Senior Technical Analyst at LKP Securities
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