Markets remained under pressure on Tuesday with Nifty regaining above key the support of 17312 after initial gap down opening. With USDINR crossing above 76 in international market, the selling in equity market is likely to accelerate further. Expect major breakdown and spike in volatility if Nifty closes below 17312 for a potential target of 16% lower.
Stocks in news
ITC management discussed taxation on cigarette business, demerger plans and the strategy for the FMCG business going ahead in its first-ever investor meet on December 14.
Paytm- Anchor lock-in opens today
Reliance Inds- Reports indicate Armco exploring investments with some financial investors
Deepak Nitrite to mull fund raising on Dec 22 via equity and other securities
Infosys acquires Singtel’s delivery centre in Malaysia for USD 6 mn.
Anupam Rasayan has signed long term binding contract worth Rs 135 crore with Japanese multinational for supplying an existing life science-related speciality chemical
NLC India- The payment of principal amount of Rs 500 crore has been made on December 14 with respect to Commercial Paper.
Mold-Tek Packaging launched QIP issue on December 14 and approved the floor price of Rs 722.40 per equity share for the QIP.
Sugar stocks in focus- India to appeal WTO findings that cane subsidies are inconsistent with agri agreements.
SBI plans to sell 6% in SBI Funds via IPO issue
Must Read: Wealth Creation Myths Every Young Investor should Know!
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