Stock Market LIVE Updates: GIFT Nifty indicates a positive start; US, Asian markets gain

Escorts Kubota has executed a long-term wage settlement agreement with the Workers’ Union for three years. The company said it committed to maintain cordial industrial relations with all stakeholders and continues to offer good growth potential.

The USD-INR 27 February futures contract traded within a narrow range. According to the daily technical chart, the pair is currently trading above its moving average trend-line support level of 83.03, with MACD indicating positive divergence. However, the RSI remains below the 50 levels, suggesting a bearish sentiment, while encountering significant resistance at higher levels.

Based on the daily technical chart analysis, support levels are identified at 82.92-82.74, while resistance levels are situated at 83.22-83.38. It’s notable that the pair is presently above the support level of 83.03 and is anticipated to fluctuate within the range of 82.74-83.38 during today’s session.

Passengers carried by domestic airlines during January 2024 stood at 1.31 crore as against 1.25 crore during the corresponding period of the previous year registering an annual growth and a monthly growth of 4.69 percent, data released by the Directorate General of Civil Aviation (DGCA) on February 15 shows.

IndiGo — the airline with the largest market share — saw a slight dip at 60.2 percent followed by Air India at the second spot with a 12.2 percent market share in January.

Vistara and SpiceJet were the airlines with maximum passenger load factors (PLF) in January this year, as per the DGCA data. Read More

Coal India (CIL) on February 15 signed a memorandum of understanding (MoU) with Haryana Power Purchase Centre (HPPC), which expressed its interest to purchase 800 megawatts (MW) of power from ‘Mahanadi Basin Power Ltd’ (MBPL) a wholly-owned subsidiary of Mahanadi Coalfields Limited (MCL).

MCL is the highest coal producing arm of Coal India that operates in Odisha, according to the public sector unit.

As per the MoU framework, power purchase will be under Section-62 of the Electricity Act, 2003. This refers to determining the power tariff in accordance with the provisions of the act, by the appropriate commission, for supply of electricity by a generating company to a distribution licensee.

India plans to continue expanding its coal production capacity beyond the stated target of doubling it by 2030, prioritizing its needs over mounting global pressure to cut the use of fossil fuels. Read More

The Nifty opened with gains and traded with a positive bias throughout the day. It close with gains of ~71 points. On the daily charts we can observe that after the sharp runup in the previous trading session the is holding on the gains and also minor dips are being bought into suggesting buying interest. The daily momentum indicator has triggered a positive crossover which is a buy signal. Thus, both price and momentum indicator is suggesting continuation of the upmove. On the upside immediate hurdle is placed at the 22100 – 22130 zone while the support zone has shifted higher towards 21770 – 21750.

Bank Nifty has managed to close above the 20 and 40-day moving averages (45597 & 46084), which is a sign of strength and with the daily momentum indicator having a positive crossover should provide speed to the upmove. On the upside, Bank Nifty can rally towards 46600 – 47000 from short term perspective.

Finsider International Company sold 6.55 crore shares of mining major Vedanta Limited, according to bulk deals data released by BSE. This was part of an Rs 8.2-crore share deal involving other buyers and sellers.

The exchange did not publish the name of buyers.

The deal happened at an average price of Rs 265.14 per share. That means Finsider International Company got Rs 1,737 crore from selling the stake. The company is part of promoter group holding 4.40 percent stake in the firm, as of December-end.

Media reports said the promoters were looking to sell stake worth $1 billion in the company to Rajiv Jain’s investment firm GQG Partners. Read More

Polysil Irrigation Systems is set to list its equity shares on the NSE Emerge on February 16. The issue price is Rs 54 per share. Its equity shares will be available for trading in trade-for-trade surveillance segment.

Carlyle Group sold equity stake worth Rs 1,056 crore in Yes Bank on the BSE on February 15.

According to data provided by the BSE, Carlyle Group sold 1.35 percent stake in Yes Bank through open market transactions.

CA Basque Investments, a Carlyle Group entity, sold 390,000,000 shares in Yes Bank at an average price of Rs 27.10. Carlyle Group sold Rs 1,056.9 crore worth of shares in Yes Bank.

CA Basque Investments is a special purpose vehicle, is owned by CA Marans Investments, which is controlled by the funds managed by the affiliates of The Carlyle Group. Read More

-Overweight call, target Rs 2,110 per share

-Company gave details on its home loan business post-merger

-It noted accelerated market share gains, improved turnaround time

-Accelerated market share gains improved CASA cross-selling in recent quarters