Nifty futures were trading 40.80 points or 0.35 per cent down at 11,493.20 on Singaporean Exchange, suggesting a gap-down start for BSE Sensex and Nifty 50 on Wednesday. Investors will watch Defence Minister Rajnath Singh speech in Parliament on India-China border tension, along with RBI Governor Shaktikanta Das address to FICCI members. Besides, developments around COVID-19 vaccine, trends in coronavirus cases, oil prices and other global cues will continue to sway market sentiment. “The market is likely to consolidate in near term with positive bias. All eyes would be on Central Banks globally as US Fed’s 2-day policy to end on Wednesday while its peers European Central Bank, Bank of England and Japan would meet later this week,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
Stocks in focus today:
Aurobindo Pharma: Biotechnology Industry Research Assistance Council (BIRAC) has facilitated the establishment of the r-VSV vaccine manufacturing platform for the first time in India by supporting Aurobindo Pharma’s COVID-19 vaccine development, the company informed in a press release.
Lakshmi Vilas Bank: The bank informed that under the non-binding letter of intent (LOI), the proposed amalgamation of Clix Group with Lakshmi Vilas Bank is subject to completion of mutual due-diligence, regulatory and other customary approvals.
Hexaware Technologies: IT company informed in an exchange filing that capital market regulator SEBI has acceded to its request to extend the bid closing date by 1 working day. Now the bid closing is September 16.
SpiceJet: SpiceJet reported a net loss of Rs 600.5 crore in April to June quarter of the current fiscal on the back of flights suspension due to coronavirus pandemic. It had posted a net profit of Rs 262.8 crore in the corresponding quarter of the previous year.
Future Enterprises: The company posted a consolidated net loss of Rs 322.92 crore in the first quarter of the current financial year. The company had reported a consolidated loss of Rs 8.59 crore in the same quarter of a year ago period.
Max India: The company said its board has approved a capital reduction programme under which the company will buy back equity shares worth up to Rs 92 crore from public shareholders. The company plans to offer its public shareholders the option of taking Rs 85 per share for up to 20 per cent of their shareholding in lieu of cancelling these shares.
BSE: In key bulk deals, Nippon India Mutual Fund A/C Nippon India Small Cap Fund lapped up 5,46,650 equity shares in of BSE at Rs 554 per share. However, Deutsche Boerse Aktiengesellschaft offloaded another 7,86,933 shares in the BSE at Rs 554.36 per share.
