Stocks in focus: RailTel, IRCON, Yes Bank, Bharti Airtel, HDFC to remain on investors’ radar


According to a technical analyst, the Nifty / Sensex is recovering from a corrective pattern and traders need to be cautious, until the Nifty 50 index comfortably cross 15435. Image: Reuters

Nifty futures were trading 237.50 points or 1.55 per cent down at 15,057.50 on Singaporean Exchange on Thursday, indicating a gap-down opening for BSE Sensex and Nifty 50. In the last three days of the rally, Sensex has risen by 2,344.66 points or 4.77 per cent, while the Nifty has added 716.45 points or 4.93 per cent. Moreover, the market capitalisation of the BSE-listed companies has zoomed by Rs 9.41 lakh crore to reach Rs 210.22 lakh crore on Wednesday. According to a technical analyst, the Nifty / Sensex is recovering from a corrective pattern and traders need to be cautious until the Nifty 50 index comfortably cross 15435. “The Nifty / Sensex may move to the level of 16000/54200 in the next few days or weeks on the decisive dismissal of the level of 15435/52520,” said Shrikant Chouhan, Executive Vice President (Equity Technical Research), Kotak Securities.

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Stocks in focus today:

Railtel Corporation of India: Vaibhav Stock and Derivatives Broking Private Ltd bought 20.21 lakh shares of RailTel Corporation of India at Rs 174.78. The same were then sold by Vaibhav Stock and Derivatives Broking Private Ltd at Rs 174.86, according to the NSE bulk deals.

IRCON: The Offer for sale (OFS) of IRCON was over-subscribed on the first day of issue by institutional investors. The government is selling up to 16 per cent stake at a floor price of Rs 88 a share in railway PSU IRCON. The issue will open for retail investors on Thursday.

YES Bank: Shareholders of Yes Bank have approved a proposal for raising Rs 10,000-crore capital with the requisite majority. The lender has said in a regulatory filing that 98.78% votes were cast in favour of the resolution to raise capital.

Bharti Airtel: The telecom giant Bharti Airtel in a BSE filing informed the company has raised $750 million on March 03, 2021, through allotment of unsecured senior fixed rate notes.

HDFC Ltd: Housing Development Finance Corporation informed that HDFC has reduced its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) were benchmarked, by 5 basis points, with effect from March 4, 2021.

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