Coal India (+6%) in a week, L&T (+4%) & more
Nifty rose this week due to the strong performance of Nifty IT, Nifty PSE and Nifty Oil & Gas.
Coal India (+6%) rose after the board fixed the record date for dividends and govt increased the coal production target for the next financial year to one billion tonnes. Larsen and Toubro (+4%) rose due to a strong deal pipeline and heathy revenue growth. Adani Enterprise (-7%) plunged after the company announced Rs 20,000 cr FPO.
Nifty Consumer Durables (-2%) declined due to muted demand and rising costs.
1. Siemens signed a 3 Billion euro train deal in India. (Economic Times)
2. Viacom 18 won media rights for Women’s Indian Premier League for Rs 951 cr.(Indian Express)
3.Sun Pharma to acquire US-based Concert Pharmaceuticals for $ 576 Million. (Business Standard)
4.Vedanta to sell its foreign zinc assets to Hindustan Zinc for $ 2.98 Billion. (Business Standard)
5.Airtel to set up hyper scale data centre in Hyderabad. (Economic Times)
January 23 Axis Bank, IDBI Bank, Canara Bank, CONCOR, and Tata Communications quarterly results.
January 24 Maruti Suzuki, Pidilite, SBI Cards, TVS Motor Company, and UCO Bank quarterly results.
January 25 Tata Motors, Bajaj Auto, DLF, Cipla, Dr. Reddy, and Torrent Pharma quarterly results
January 26 Republic Day holiday
January 27 Bajaj Finance, Aditya Birla Sun Life, and Vedanta quarterly results
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