The Nifty50 is expected to open flat on Tuesday following a mixed trend seen in other Asian markets. The index closed 158 points lower at 11,594 on Monday.
Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 5 points or 0.04 percent. Nifty futures were trading around 11,621-level on the Singaporean Exchange.
US stocks ended a low-volume trading session little changed on Monday, with the biggest gains in the energy sector as investors otherwise stayed on the sidelines ahead of quarterly earnings, said a Reuters report.
Asian shares were little changed on Tuesday, hovering not far from nine-month peaks hit last week, with concerns China may slow the pace of policy easing curbing the market’s enthusiasm, it said.
As many as 14 companies on the BSE will declare their results for the quarter ended March which include names like ACC, Indiabulls Real Estate, ICICI Securities, Tata Global Beverages and Sterlite Technologies among others.
ACC: PAT likely to grow by 44% YoY to Rs 353 crore
(Estimates are from Motilal Oswal)
Stocks in news:
Private equity player Blackstone has entered into a share purchase agreement (SPA) on April 22 to buy 51 percent of Essel Propack (EPL) at Rs 134 per share. Subsequently, an open offer has been made for 26 percent at Rs 139.19 per share. The stock closed at Rs 132.65
Lenders to the distressed steel assets of Uttam Value Steels and Uttam Galva Metallics on Sunday approved a Rs 2,400-crore resolution package in a staggered payment plan that requires banks to take haircuts of more than 60% on the loans.
Debt-laden Infrastructure Leasing & Financial Services (IL&FS) April 22 said GAIL (India) has emerged as the highest bidder for its seven operating wind power plants. The bidding process to these assets having 12 sites spread across seven states was launched in November last year.
Technical Recommendations:
We spoke to 5nance.com and here's what they have to recommend:
Minda Industries Ltd: Buy| LTP: Rs 379| Target: Rs. 408| Stop-loss: Rs. 370 | Upside: 7%
Baja Auto Ltd: Buy| LTP: Rs 3050| Target: Rs 3193| Stop Loss: Rs 2950| Upside 5%
Tata Communication Ltd: Sell| LTP: Rs 577| Target: Rs 554| Stop Loss: Rs 590| Downside 4%
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