SGX Nifty was sitting comfortably in the green on Tuesday morning, hinting at a positive start to the day’s trade. SGX Nifty was up 50 points or 0.28% sitting at 18,187 points. On the charts, Nifty formed a small negative candle with upper shadow, according to Nagaraj Shetti, Technical Research Analyst, HDFC Securities. “This indicates a presence of crucial overhead resistance at 18150-18200 levels, as per the concept of change in polarity. This also signal a range bound action in the market at the crucial overhead resistance,” he added while suggesting that Nifty may be in for range-bound activity in the coming trading sessions.
PB Fintech: Shares of Policybazaar’s parent company made a stellar debut on the stock exchange on Monday, zooming 22.7% higher at the end of the day’s trade to close at Rs 1,202 per share. Investors will keep a close eye on the shares of the newly listed company to keep tabs of its performance.
Sigachi Industries: Another debutant, Sigachi Industries, will be closely watched by investors after the stock made a historic listing on the bourses. Shares of Sigachi Industries skyrocketed a massive 252% marking the highest-ever one-day listing gains in a decade in the Indian equity markets.
Bharti Airtel: The telecom major said that it has formed a Committee of Board of Directors (“ESG Committee”) to sharpen its focus towards its Environmental, Sustainability and Governance (ESG) agenda. The ESG Committee will provide strategic guidance and oversight to the company’s progress on ESG targets, initiatives and best practices. This will also include initiatives to respond to challenges posed by climate change through sustainable business practices.
IL&FS Engineering: The company reported a narrowing of consolidated net loss to Rs 6.55 crore for the quarter ended September 2021. The engineering arm of the troubled IL&FS Group had reported a total consolidated net loss after exceptional items and tax at Rs 73.16 crore for the corresponding quarter of the previous fiscal.
Escorts: Escorts Agri Machinery (EAM), a division of Escorts Limited said that it will increase prices of its tractors effective November 21. The company said that there has been a steady rise in commodity prices necessitating a price hike to offset the impact of the continuing inflation.
Ruchi Soya: Baba Ramdev’s Ruchi Soya a 29.62% jump in net profit to Rs 164.27 crore for the second quarter of the current financial year, helped by robust sales. Net income during July-September 2021 rose to Rs 6,010.99 crore, compared with Rs 3,990.72 crore in the year-ago period.
Coforge: The company formerly known as NIIT Technologies, on Tuesday morning said that its board of directors has approved NYSE as the stock exchange to list its ADR. The company has filed offer papers with the United States Securities and Exchange Commission.