Earlier on December 05, 2019, the NCDs issues by Essel Infra Projects were valued based on a 50 percent haircut, as the bank loan facility of the issuer was downgraded to Default (D).
According to Ashwani Gujral of ashwanigujral.com, one can buy Vijaya Bank, Marico and HCL Technologies.
India will see reasonable earnings growth over the next 6-9 months and that should give the market another leg of growth, feels Akash Prakash, Fund Manager & CEO of Amansa Holdings.
Anand Tandon, Market Expert is of the view that one may prefer ADAG stocks.
The court also fixed November 3 for hearing final arguments in 2G scam-related money laundering case in which Raja, Kanimozhi and 17 others are facing trial.
Vivek Patil, Proprietor, Vivekpatil.com is also bullish on realty and ADAG group stocks. He believes low-lying real estate stocks can fetch multifold returns over the next two-three years.
Through the defamation suit, the ADAG Company is seeking to restrain the Kejriwal-led political party – AAP from making allegations against the company and the Maharasthra power regulator.
ADAG Chairman Anil Ambani informed that the 4000 MW Sasan's UMPP set up at an investment of Rs 30,000 crore will be completed soon and the group plans to invest an additional Rs 15,000 crore in the project, sources said.
Reliance Telecom, a subsidiary of Reliance Communication has been slapped an tax order to the tune of Rs 200 crore for the years 2006-2011. Reliance Telecom operates in Gujarat, Madhya Pradesh, West Bengal, Himachal Prasdes, Odisha, Bihar, Assam and the north east of India.
Wipro shares declined 1.04 percent to close at Rs 454.90 while Reliance Infrastructure lost 6.28 percent to Rs 331.15 on the Bombay Stock Exchange.
Reliance Anil Dhirubhai Ambani Group (ADAG) Chairman Anil Ambani, who deposed in the 2G spectrum allocation scam case in a Delhi court on Thursday, has been declared a hostile witness by special public prosecutor UU Lalit.
If Nifty bounces back and sustains above 5330 only then one can expect it to go back up and retest 5450 on the upside, says Hemant Thukral of Aditya Birla Money.
Amit Gupta of ICICI Direct says in this series whenever Nifty sees any intermediate profit booking for one or two sessions, one should ride the Put options rather than panicking and looking for an upward target.
VK Sharma of HDFC Securities believes that unless Nifty closes above 5,920, traders should sell on every rally.
Amit Gupta, Head- Derivatives at ICICI Direct is of the view that Reliance Capital may test Rs 410-415. "One can keep a stop loss around Rs 367 and remain positive in the stock," he adds.
Amit Gupta, Head- Derivatives at ICICI Direct believes that the market is forming some support area around 5,670 or 5,700. He further says, "We will continue to remain stock specific positive for the time being. The declines in the index can also be bought".
The index is in a trading range and trading ranges are vicious, choppy and difficult to trade, technical analyst, Sudarshan Sukhani, s2analytics.com said.
Short-term buying opportunities still exists because market is deeply oversold, technical analyst, Sudarshan Sukhani, s2analytics.com said
SP Tulsian sees auto sales and cement sales data as triggers for the market ahead. He is bullish on Berger Paints and Madras Cements for next week.
Technical analyst, Sudarshan Sukhani, s2analytics.com said that traders who do not have position or who exited yesterday, a correction today would provide an opportunity to reenter.
Anu Jain, Senior Vice President at IIFL Private Wealth Management told CNBC-TV18 that 5600-5550 is likely to be the support zone for the Nifty.
Anil Manghnani of Modern Shares & Stock Brokers feels if Reliance Infrastructure touches Rs 328 level then there could be some problem for that stock.
In an interview to CNBC-TV18, Anil Manghnani of Modern Shares & Stock Brokers, spoke about his reading of the market and his outlook.
In the latest development in connection with the 2G spectrum allocation case, a Central Bureau of Investigation (CBI) witness has identified the signature of Reliance ADAG chairman Anil Ambani on some documents.
The Indian market on the first day of 2013 started on a positive note with the Nifty gaining 0.77 percent to close at 5951, just briefly short of 6000 mark. In an interview to CNBC-TV18, SP Tulsian of sptulsian.com spoke on the market expectation beyond the 6000 level and his targets ahead.