Stocks in focus: Reliance Industries, Bharti Airtel, HDFC Bank, Future Retail, Punjab National Bank

stocks in focus, RIL, Airtel, PNB, hdfc bankstocks in focus, RIL, Airtel, PNB, hdfc bankAccording to a technical analyst, the short term trend of Nifty continues to be negative. “The pickup of downside momentum could signal more weakness in the next few sessions.

Nifty futures were trading 95 points or 0.65 per cent higher at 14,770 on Singaporean Exchange, indicating a positive opening for BSE Sensex and Nifty 50 on Tuesday. The headline indices have been in a bear grip for last four days with investors taking risk off the table on worries of surging commodity prices, rising bond yields and a fresh spike in Covid-19 cases. According to a technical analyst, the short term trend of Nifty continues to be negative. “The pickup of downside momentum could signal more weakness in the next few sessions. The lower levels to be watched around 14350-14300, which could be achieved by this or by next week. Immediate resistance is placed at 14800-14850,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Stocks in focus today:

Related News

RIL: Mukesh Ambani’s RIL has announced to reorganise its O2C business into an independent subsidiary by the second quarter of FY22. Reliance Industries Ltd will transfer all refining, marketing and petchem assets to O2C. RIL standalone entity will have all existing segments other than O2C business.

Bharti Airtel: The telecom giant Bharti Airtel on Monday said it will meet global fixed income investors on or after February 23, post which the company will take a final decision on the issuance of foreign currency bonds, subject to market conditions.

Future Retail Ltd: The Supreme Court on Monday prevented the National Company Law Tribunal (NCLT) from taking a final call on the Rs 24,713-crore deal between Kishore Biyani-led Future Retail (FRL) and Reliance Retail, even as it allowed the tribunal to go ahead with the proceedings for merger of Future group and Mukesh Ambani’s Reliance group firms.

Punjab National Bank: PNB has started the process to exit Asset Reconstruction Company (India), also known as Arcil. Punjab National Bank’s investment arm on Monday sought expressions of interest from potential buyers in a public notice.

HDFC Bank: The Securities Appellate Tribunal (SAT) has stayed a Sebi order which imposed a fine of Rs 1 crore on HDFC Bank for invoking securities pledged by stock broker BRH Wealth Kreators, till further orders, according to a PTI report. Sebi had imposed the fine and also directed the bank on January 21 to transfer Rs 158.68 crore along with 7 per cent interest per annum into an escrow account till the issue of settlement of clients” securities is reconciled.

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