Nifty futures were trading 51 points or 0.32 per cent down at 15,783.50 on Wednesday, suggesting a negative opening for BSE Sensex and Nifty 50. Today, all eyes would be on Zomato’s Rs 9,375-crore IPO, which will open today at a price band of Rs 72-76 per share. Chartists believe that the short term trend of Nifty 50 index continues to be positive with range bound action. “One may expect further upside towards 15900-15915 levels in the short term before showing next round of consolidation. The emergence of strength at the hurdle could only open a sharp upside breakout of the resistance in the short term. Immediate support is placed at 15710 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.
Stocks to watch
Info Edge: Naukri.com’s parent company, Info Edge holds a stake of about 18.55 per cet in the food delivery platform Zomato. Rs 9,375-cr Zomato’s IPO will open for subscription today, after raising Rs 4,197 crore from 186 anchor investors on Tuesday.
Infosys, Dodla Dairy: BSE-lisyed companies such as Infosys, Dodla Dairy, Craftsman Automation, L&T Technology Services, 5paisa Capital, Alliance Integrated Metaliks, Essar Securities, Hatsun Agro Product, Mishtann Foods, Tasty Dairy Specialities, Tinplate Company of India, and Vikas EcoTech will release quarterly earnings on July 14.
Vodafone Idea: Vodafone Idea (Vi) in an exchange filing said that it continues to explore fund raising opportunities and will inform the regulators once proposal to raise Rs 25,000 crore is considered by its Board.
Barbeque-Nation Hospitality: ICRA has upgraded credit rating for the bank facilities of Barbeque-Nation Hospitality, company informed in a BSE filing.
Mindtree: Mindtree on Tuesday posted a 61.2 per cent jump in its consolidated net profit at Rs 343.4 crore for the June quarter and exuded confidence in logging a double-digit revenue growth in FY’22. The company had registered a net profit of Rs 213 crore in the June 2020 quarter.
NTPC: NTPC said on Tuesday that its newly formed subsidiary, NTPC Renewable Energy, has received approval from the Union ministry of new and renewable energy to set up a 4,750 mega-watt (MW) renewable energy park in the Rann of Kutch in Khavada, Gujarat.