The domestic stock markets are likely to open in the green, in line with the global indices. Trends on SGX Nifty indicate a positive opening for the index in India, with a 43-points gain. At 7:30 am, the Nifty futures were trading at 13,796, higher by 43 points or 0.37 per cent on the Singapore Stock Exchange.
Global shares ticked up on Monday as a source said U.S. President Donald Trump signed into law a $2.3 trillion pandemic aid and spending package he had until now refused to sign.
Japan’s Nikkei inched up 0.4 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent, though trade is slow with many markets still closed for holiday.
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The shares of Coal India are likely to be in the limelight after the company’s board accorded in-principle approval to venture into aluminium value chain and solar power value chain. It also approved creating special purpose vehicles (SPVs), subject to receiving the necessary approval from the Niti Aayog and DIPAM.
Cadila Healthcare shares should witness investor interest after the pharma company submitted Phase I and II clinical trial data of ZyCoV-D and has sought approval to begin phase III clinical trials. The company plans to initiate Phase III clinical trials in around 30,000 volunteers post necessaery approvals.
Reliance Industries shares may be on investors’ radar after the conglomerate agreed to buy out IMG Worldwide LLC from their sports management joint venture for Rs 52.08 crore. Post the acquisition, IMG-R will become a wholly-owned subsidiary of the company.
Lupin counter may see some action after receiving tentative approval from the U.S. FDA for its Efinaconazole Topical Solution, which is used in the topical treatment of onychomycosis of the toenails.