Produced by: Prashun Talukdar Designed by: Manoj Kumar
"After witnessing heavy profit-booking in recent sessions, investors resorted to short covering ahead of F&O expiry on Thursday. Technically, confirmation of strength for Nifty is only above its biggest hurdle placed at 21,807 while support for the index is at 21,137 level," said Prashanth Tapse, Senior VP (Research) at Mehta Equities. On the stock-specific front, Zee, Tech Mahindra, Adani Power and few other counters will be in focus today.
Shares of Zee Entertainment Enterprises Ltd on Wednesday climbed 6.70% to settle at Rs 166.35. Zee said it has called on Sony Group to withdraw the Japanese company's termination of a $10 billion merger. It has also approached the Singapore International Arbitration Centre and the National Company Law Tribunal (NCLT) in relation with the matter.
Shares of Tech Mahindra rose 3.09% to close at Rs 1,407.75. The IT company posted a 60.6% drop in third-quarter net profit. TechM's profit fell to Rs 510 crore for the three months ended December 31, 2023, from Rs 1,297 crore a year earlier.
Bajaj Auto shares rose 1.7% to close at Rs 7,211.40. The two-wheeler maker said its net profit grew 37% year-on-year (YoY) to Rs 2,042 crore in the December quarter (Q3 FY24) against Rs 1,491 crore in the same period last fiscal.
Shares of Mastek Ltd moved 0.40% up to settle at Rs 2,684.45. The stock will trade ex-dividend today. The company has declared an interim dividend of Rs 7 per share.
Shares of Adani Power edged 0.28% higher to close at Rs 519.65. The company is scheduled to announce its December quarter results today. Another Adani Group firm, ACC, will declare its quarterly results as well.
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.