Indices at 10:00 am
Nifty50 14,513 ▼ 51 (-0.3%)
Sensex 49,338 ▼ 154 (-0.3%)
Nifty Bank 32,598 ▲ 23 (0.0%)
In the news
Government to sell stake in SAIL via OFS
- The government plans to sell 5% of the total equity (over 20 crore shares) in the country’s largest steel producer via an offer for sale (OFS). There is a provision to divest an additional 5% as well. The government currently has a 75% stake in the company.
- The floor price for the OFS has been set at ₹64 per share, which is a 13.6% discount to Wednesday's closing price. This has triggered a sharp drop in SAIL’s shares, which are trading 8.7% lower today.
Hindustan Aeronautics bags Tejas order
- The government has approved the purchase of 83 Tejas light combat aircraft from Hindustan Aeronautics (HAL). The size of the order is pegged at ₹48,000 crore.
- This order is the biggest contract awarded to India’s homegrown military aviation industry and will give fillip to the Atmanirbhar Bharat initiative. Shares of HAL rose 8.0% today, supported by heavy volumes.
Indian Bank raises ₹2,000 crore
- State-owned Indian Bank has reported that it has raised ₹2,000 crore through private placement of bonds. Its shares were up by 0.5% today.
- Major PSU Banks have seen a surge in investor interest this week. The Nifty PSU Bank index is upbeat for the third day in a row and is up 0.3% today.
IT stocks see profit-booking
- Shares of IT majors Infosys (-3.5%) and Wipro (-4.1%) witnessed profit-booking after reporting their Q3 results, which were better than street estimates.
- Both the stocks had seen run-up to the results and had gained 10% and 19%, respectively, so far in January. These gains came after a nearly 24% rise in Q3.
Events in this week
- Thursday: WPI Inflation (India), Initial jobless claims (US)
Sectoral indices
| Top gainers | Top losers |
| Nifty FMCG ▲ 0.7% | Nifty IT ▼ 2.1% |
| Nifty PSU Bank ▲ 0.4% | Nifty Metal ▼ 0.8% |
| Global markets | Today's movement |
| Nikkei 225 (Japan) | ▲ 1.7% |
| Hang Seng (Hong Kong) | ▲ 0.4% |
| SSE Composite (China) | ▼ 0.2% |
| Dow Jones (US) | ▼ 0.0% |
Fact of the day
We shake hands to show we’re unarmed.
Source: Men’s Health
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