The domestic stock markets are likely to open in the red on the back of negative global cues. Trends on SGX Nifty indicate a negative opening for the Nifty in India, with a 63-point loss. At 7:30 am, the Nifty futures were trading at 15,778, lower by 63 points or 0.56 per cent, on the Singapore Stock Exchange.
The equity benchmarks edged lower on Tuesday as strong gains in banking shares were outpaced by losses in index heavyweights Reliance Industries, Infosys, Tata Consultancy Services, Hindustan Unilever and Tech Mahindra. The Sensex ended 19 points lower at 52,861 and Nifty index declined 16 points to settle at 15,818.
Stocks to watch in trade in today's session
Luxury carmaker Jaguar Land Rover Automotive Plc issued a profit warning on Tuesday citing the impact of semiconductor chip shortage on vehicle production, sending parent Tata Motors crashing as much as 10 per cent before closing with losses of 8 per cent.
Mahindra & Mahindra has signed a solar power delivery agreement with ReNew Sunlight Energy (RSEPL). M&M has also signed a share subscription and shareholders' agreement with RSEPL and ReNew Green Energy Solutions under which M&M will subscribe 1,60,74,000 shares, resulting in 31.2 per cent stake in RSEPL.
Tata Steel will increase its annual capacity in India from 34 million tonnes per annum (mtpa) to 55 mtpa, or 73 per cent of its global production by 2030, the company said during an investor presentation.
Titan Company has recorded revenue growth of around 117 per cent (excluding bullion sales) in Q1FY22, with revenue contribution of approximately 50 per cent, 10 per cent and 40 per cent in April, May and June respectively.
Info Edge has approved the acquisition of Doselect.com run by Axilly Labs Pvt. Ltd. Doselect offers technical assessment services for recruitment and learning purposes. Info Edge will 100% share capital of Doselect.com on a fully diluted basis for Rs 21 crore. The acquisition will be realsied subject to certain conditions.