Actions in focus: TCS, Vodafone-Idea, Canara Bank, NTPC, HDFC Bank, Coal India

Nifty futures were trading flat with a negative bias in early trading Tuesday, suggesting a flat open for BSE Sensex and Nifty 50. In the prior session, the major indices finished at new record highs led by strong buying in finance. , consumer goods and banking stocks. Analysts say it would be interesting to keep an eye out for Tuesday’s session as closing above 13360 will push the Nifty 50 higher. “Buying is recommended only if Nifty falls to 13150/13100 levels. Pharma stocks should be on the focus list. Tech stocks should also see a bullish move in the near term, ”said Shrikant Chouhan, executive vice president of equity technical research at Kotak Securities.

Canara Bank: The bank informed the exchanges that it said it has set a minimum price of Rs 103.50 per share for its Qualified Institutional Placement (QIP) to raise up to Rs 2,000 crore. Likewise, it has been reported that a meeting of the Subcommittee of the Board of Directors – Capital Planning Process of the Bank’s Board of Directors is scheduled for Thursday, December 10, 2020, to consider and determine the issue price of the Equity Shares as well as the number of shares to be allocated to qualified institutional buyers, in accordance with the QIP.

NTPC: NTPC has made an offer to buy back its 4 billion rupee masala bonds from bondholders or lenders. According to the company’s statement, the offering includes the 7.375 percent notes of Rs 2,000 crore issued on August 10, 2016, payable in USD and maturing on August 10, 2021.

Vodafone-Idea: On Monday, the Supreme Court accepted the government’s suggestion to maintain the status quo on new lawsuits or recoveries between it and Vodafone Idea until the single spectrum charge (OTSC) case is finally resolved in February.

HDFC Bank: The Reserve Bank of India (RBI) action against HDFC Bank in response to weaknesses in its digital infrastructure and operational resilience is credit negative, rating agency Moody’s said on Monday. On December 3, HDFC Bank announced that RBI had asked the bank to temporarily halt all launches under its Digital 2.0 initiative and to search for new credit card customers.

Coal India: Coal India’s production and shipping is likely to be partially affected on Tuesday as carriers have decided to observe the ‘chakka jam’, promising support for the December 8 ‘Bharat Bandh’ called by farmers on the new laws agricultural workers, PTI quoted a union leader as saying.

TCS: Tata Consultancy Services (TCS) said Monday that it has recruited more than 7,000 employees in the UK over the past five years, making it among the top recruiters for IT services talent in that country.