The domestic stock markets are likely to open on a cautious note, after coming off life-time highs in the previous trading session, going by early indications from SGX Nifty futures trading. Trends on SGX Nifty indicate a cautious opening for the index in India, with a 19-points gain. At 7:30 am, the Nifty futures were trading at 14,592, higher by 19 points, on the Singapore Stock Exchange.
Asian equities made early trading gains on Thursday after a mixed session at Wall Street buoyed by expectations of a U.S.stimulus package even as political events in Washington culminated in the impeachment of President Donald Trump.
Stocks To Watch in trade in today’s (January 14) session
Infosys reported better-than-expected earnings performance in the third quarter, with profit increasing 16.6 per cent to Rs 5,197 crore and revenues rising 12 per cent to Rs 25,927 crore. Infosys raised FY21 revenue growth guidance to 4.5 per cent-5.0 per cent in constant currency and increased operating margin guidance to 24.0 per cent-24.5 per cent.
Wipro reported nearly 21 per cent rise in consolidated net profit to Rs 2,967 crore for the quarter ended December. Revenue rose 1.3 per cent to Rs 15,670 crore. In dollar terms, the revenues grew 3.9 per cent to $2.07 billion from the preceding three months.
Steel Authority of India
The government has proposed to sell 206.5 million shares of Steel Authority of India through an offer for sale (OFS). It also has an greenshoe option to sell up to 20.65 crore additional shares in the company. The floor price has been set at Rs 64 per share. The OFS for non-retail investors will open on Thursday and OFS for retail investors will start on Friday.