Actions in focus: RIL, Bharti Airtel, Vodafone Idea, TCS, Kotak Mahindra Bank, Burger King, NMDC

Nifty futures were trading 60 points lower at 13,531 on the Singapore Stock Exchange, suggesting a negative open for BSE Sensex and Nifty 50 on Tuesday. Asian stock markets were also lower after Wall Street due to the increase in COVID-19 cases. Among key Wall Street indices, the S&P 500 ended lower with Walt Disney’s peso, while Alexion Pharmaceuticals capitalized on a $ 39 billion buyout offer from AstraZeneca in one of the biggest deals of the year. “The vaccine launch, Brexit talks and hopes for a US stimulus could keep sentiments upbeat. Investors would react to Indian inflation data on Tuesday and follow up on the US Fed policy meeting due Thursday, “said Siddhartha Khemka, director of retail research at Motilal Oswal Financial Services Ltd.

Actions in focus today

TCS: Tata Consultancy Services has expanded its strategic partnership with Star Alliance, the world’s largest airline alliance, to provide real-time and predictive business analytics, enhance the overall experience for its customers and accelerate your digital transformation journey.

Indian Bank: Indian Bank in a BSE filing reported that it has further raised the Tier 1 Capital Fund through private placement of Basel III-compliant AT 1 perpetual bonds which add up to Rs 560 crore at a coupon of 8.44 per cent payable annually. The issue / placement of said Bonds has been carried out by the Bank through BSE-EBP.

Kotak Mahindra Bank: The Reserve Bank of India (RBI) has granted approval for the reappointment of Prakash Apte as part-time chairman, Uday Kotak as chief executive officer and chief executive officer; and Dipak Gupta as deputy director for a period of 3 years, starting on January 1, 2021.

RIL, Bharti Airtel, Vodafone Idea: According to a Reuters report, the telecommunications division of Reliance Industries Ltd has called on the Indian telecommunications regulator to take action against rivals Bharti Airtel and Vodafone Idea Ltd for allegedly running a false propaganda campaign to attract their subscribers.

Burger King India: On the day of the listing, Burger King India shares soared nearly 131 percent and they also participated in a number of deals. Vijit Asset Management Private Limited bought and sold Burger King shares in bulk trading, as did Swapnil Mehta, Ashwin Stock and Investment Private Limited, SMC Real Estate Advisors. Basant Maheswari Wealth Advisors and Valiant Mauritius Partners Offshore were buyers of the shares.

NMDC Ltd: The Rs 1,378 crore share buyback of National Mineral Development Corporation (NMDC) will open on December 17 and close on December 31, 2020.