RIL, Tata group stocks, Bharti Airtel, Vodafone Idea, GE Power India, Power Finance Corp

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Developments around India and China border tensions, stock-specific action, oil and rupee movement will be keenly tracked

Nifty futures were trading 12.20 points or 0.11 per cent up at 11,189.20 on Singaporean Exchange, suggesting a muted opening for BSE Sensex and Nifty 50 on Wednesday. Investors may witness volatility today due to the scheduled expiry of monthly derivative contracts on Thursday. Besides, developments around India and China border tensions, stock-specific action, oil and rupee movement will be keenly tracked. “The second wave of infections in Europe and other countries has raised fear of re-imposition of lockdown. In such a scenario, markets will continue to take cues from global peers. Traders should focus more on risk management as we expect volatility to remain high due to scheduled derivatives,” said Ajit Mishra, VP – Research, Religare Broking Ltd.

Stocks in focus today:

Reliance Industries: RIL has secured a second cheque for its retail business, Reliance Retail Ventures. Today, global investment firm KKR has announced to invest Rs 5,550 crore into in Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries. So far this month, Mukesh Ambani’s retail business has received a total Rs 13,050 crore for an equity exchange of 3.03 per cent in Reliance Retail Ventures Ltd.

Tata group stocks: With Tata Sons on Tuesday offering to buy out the Shapoorji Pallonji Group’s 18.4% stake in the holding company and the SP group saying it was time to separate from the Tata Group, a seventy-year relationship is coming to an end.

Bharti Airtel, Vodafone Idea: Telecom operators such as Bharti Airtel and Vodafone Idea will be in focus today as rival Reliance Jio forayed in a big way into the postpaid market, unveiling a host of plans to grab a slice of the high Arpu-paying customers.

GE Power India Ltd: General Electric Company (GE) has expressed the intention to exit the new-build coal power market across the world, but GE Power India (GEPIL) – the American multinational firm’s Indian subsidiary – is still assessing the holding company’s decision and its impact on business activities in the country.

Power Finance Corporation: PFC on Tuesday dismissed speculations about the launch of follow on public offer (FPO) to raise funds in near future. “There have been rumours circulating in the market on the launch of FPO by PFC. In this regard, it is clarified that PFC is not planning to launch any such FPO in the near future,” PFC said.