Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 9.80 points at the opening bell.
Overseas, most Asian stocks were trading higher. US markets closed slightly lower yesterday, 23 March 2017 as US lawmakers delayed the vote on the healthcare bill.
Back home,key benchmark indices logged modest gains yesterday, 23 March 2017 in a steady session of trade as firmness in Infosys and Reliance Industries boosted gains on the domestic bourses. The Sensex rose 164.48 points or 0.56% to settle at 29,332.16, its highest closing level since 21 March 2017.
The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1094.44 crore yesterday, 23 March 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 590.78 crore yesterday, 23 March 2017, as per provisional data.
Among corporate news,Bharti Airtel announced that it has entered into a definitive agreement with Tikona Digital Networks (Tikona) to acquire Tikona's 4G business including broadband wireless access (BWA) spectrum and 350 sites, in five telecom circles for about Rs 1600 crore.
The acquisition will be funded in the way of cash and debt. The indicative time period for the completion of the acquisition is up to 60 days. Airtel plans to roll-out high speed 4G services on the newly acquired spectrum in the five circles immediately after the closure of the transaction. The announcement was made after market hours yesterday, 23 March 2017.
BPCL announced that the board of directors have declared second interim special dividend of Rs 12 per share for the year ending 31 March 2017 (FY 2017). The board fixed 27 March 2017 as record date to determine the eligibility of the shareholders to receive the second interim special dividend. The announcement was made after market hours yesterday, 23 March 2017.
Yes Bank announced that its capital raising committee yesterday, 23 March 2017, passed resolutions approving and adopting the preliminary placement document dated 23 March 2017, in connection with the qualified institutional placement (QIP) and authorizing the opening of the QIP on 23 March 2017. The floor price for the QIP is fixed at Rs 1,498.95 per equity share.
The bank may at its discretion offer a discount of up to 5% on the floor price in the QIP. The capital raising committee of the board of directors of the bank on 29 March 2017, would consider and determine the price for equity share of the bank to be issued in the QIP. The announcement was made after market hours yesterday, 23 March 2017.
Siemens announced that it has won an order worth about Rs 187.4 crore from Bangladesh Rural Electrification Board (BREB), Dhaka. The project includes construction of new 33/11 kV Air Insulated Switchgear substations in Dhaka, Chittagong and Sylhet. BREB is an electricity distribution provider under the Government of Bangladesh responsible for providing electricity to the rural parts of Bangladesh.
All the products and solutions delivered for the project have been manufactured in factories at Siemens India. The announcement was made after market hours yesterday, 23 March 2017.
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