New Delhi: The domestic stock markets are expected to trade cautiously on Wednesday, taking cues from the global markets. Asian shares extended gains, continuing a global relief rally as markets found positive news in early reports about the potential impact of the Omicron variant, although overnight advances in oil prices began to peter out. Trends on SGX Nifty indicated a slight positive opening for the markets back home. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures moved 0.15 per cent or 26.75 points up to 17,337.
The benchmark BSE Sensex had rallied 886.51 points or 1.56 per cent to finish at 57,633.65 on Tuesday; while the broader NSE Nifty had jumped 264.45 points or 1.56 per cent to settle at 17,176.70.
Here Are Stocks To Watch During Today’s Session:
Reliance Industries: The Mukesh Ambani-led company said it will partner with Abu Dhabi Chemicals Derivatives Company RSC to launch TA’ZIZ EDC & PVC, a world-scale chemical production partnership at the TA’ZIZ Industrial Chemicals Zone in Ruwais. The joint venture will have an investment of more than $2 billion.
SpiceJet: The Madras High Court has ordered the winding up of private carrier SpiceJet and directed the official liquidator to take over its assets on a petition filed by Credit Suisse over unpaid dues of $24 million. SpiceJet informed that the High Court’s stay is subject to the condition that the airline deposits an amount equivalent to $5 million within a period of two weeks.
Nykaa: The one-month lock-in period for anchor investors of FSN Commerce Ventures, which operates Nykaa, will expire on December 8. Nykaa’s Rs 5,350 crore initial public offering (IPO) was subscribed 82 times, with about 21.3 million shares sold to anchor investors. Share price had nearly doubled at trading debut, listing at Rs 2,018, a 79 per cent premium over the issue price of Rs 1,125.
SpiceJet: Has said it is hopeful of a favourable outcome of its proposed appeal against a winding up petition ordered by the Madras high court. The HC had ordered winding up of the airline on a petition filed by Credit Suisse over unpaid dues of $24 million. It had also directed an official liquidator to take over the assets of the airline. The order was subsequently stayed for three weeks following a plea by the airline and on the condition that it deposits $5 million with the court within two weeks.
Telecom stocks: Telecom Regulatory Authority of India (Trai) has directed telecom companies to immediately enable facility to send text message or SMS short code 1900, which is used for porting from one carrier to another. The telecom sector regulator has said that the service that enables requests for unique porting code has to be made effective for all subscribers – prepaid and postpaid – irrespective of the tariff value of the offer or voucher.
Reliance Capital: The Reserve Bank of India (RBI) has said that it has retained three-member advisory committee to help the recently appointed administrator of Reliance Capital. The central bank’s announcement came after the National Company Law Tribunal (NCLT) admitted its petition for initiating insolvency resolution proceedings against Reliance Capital.