Markets may open positive, but volatility could squeeze traders
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Sharp slide in Nasdaq may see Indian IT stocks come under pressure; RIL’s restructuring announcement could help keep index heavyweights firm
Indian markets are expected to open on a positive note on Tuesday, as SGX Nifty points to a gap up opening of at least a 100 points. However, volatility is likely to hurt investors’ sentiment, as mixed signals emerge from Asia-Pacific markets and from the US markets overnight. The sharp slide in Nasdaq may keep Indian IT stocks under pressure. However, index heavyweights may help the market stay firm following the restructuring announcement.
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Financials stocks were trading in the negative zone, with the S&P BSE Finance index falling 75.83 points or 0.94% at 8012.52 at 13:48 IST. Among the components of the S&P BSE Finance index, IIFL Finance Ltd (down 4.76%), Bajaj Finserv Ltd (down 3.08%),Arman Financial Services Ltd (down 2.62%),Power Finance Corporation Ltd (down 2.54%),IndusInd Bank Ltd (down 2.31%), were the top losers. Among the other losers were RBL Bank Ltd (down 2.11%), HDFC Bank Ltd (down 2.05%), Housing Development Finance Corporation Ltd (down 2.01%), Indiabulls Housing Finance Ltd (down 1.92%), and Paisalo Digital Ltd (down 1.84%). On the other hand, Indian Overseas Bank (up 20%), Bank of Maharashtra (up 20%), and Bank of India (up 19.77%) moved up.
NCLT agrees to hear plea alleging mismanagement in Omaxe
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Last Updated: Jan 20, 2021, 05:15 PM IST
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Synopsis
Terming the matter as exceptional and having compelling circumstances against the realty firm, a two-member Chandigarh-based NCLT bench has granted the waiver in the filing criteria under Section 244 of the Companies Act, over the plea filed by the Omaxe former joint managing director Sunil Goel and his wife.
The NCLT direction came over an application filed by Sunil Goel and other petitioners seeking waiver in the filing criteria.
NEW DELHI: The National Company Law Tribunal (NCLT) has agreed to hear a petition filed against