Bull Movement on Tuesday | Maruti Suzuki Price Hike |
Tuesday markets have regained back the momentum. Early morning as we have mentioned in our Pre Market Newsletter, SGX nifty the early indicator for Nifty index has moved up by 95.5 points. This positive indication has worked out to be true as the gap up opening in Nifty50.
Bulls are back to control after the correcting for 2 days(last Friday and Monday). This correction is a good chance for the investors who have used it to enter into the market bull movement. The force with which the bulls took control of the market is so strong that the gain on Tuesday is more than the loss on Monday.
Major gainers include the Reliance Industries and the housing Development Finance corp. these two stocks contributed to the major movement in the indices today.
Mindtree More than expected financial results have also turned out to be a positive signal for the stock movement today.
Major Indian Indices closing prices
Biden – Harris
A new president taking over the White House this week is also the positive sentiment that is providing the required acceleration for the markets Bull movement. The president-elect Joe Biden Oath taking ceremony will tomorrow(20th Jan 2021).
Maruti Suzuki Price Hike
India’s larges auto maker Maruti has said that the company increase the prices by ₹34,000 which will be effective from Monday 18th Jan. This price hike is due to the increased commodity price and the stress on the company due to low demand which got affected by the pandemic caused by covid19.
The price was earlier hiked by Mahindra and Mahindra citing the increasing price of commodities in the international and domestic markets which made them to increase the price. The auto makers are already discussing with the government agencies to provide relief to the companies in some manner to sustain in the low demand situations.
Vaccines for Employees
Prime Minister of India, Narendra modi had launched the nation wide vaccination drive on Saturday. This aimed at vaccinating the front line workers and critical groups across the country.
As of now the vaccine cannot be brought or not available commercially. The vaccine is sold only to government by the Serum institute and Barat Biotech. The vaccinationis done by the government of India free of cost without chargind anything from the people. The plan of the vaccine drive included other individuals as well but a later stage of the vaccination program.
But recently major companies of India have shown interest to buy the vaccine for the employees of the company. The corporates wanted to buy once the vaccine is made available commercially by the Manufacturers.
Steel producer Jindal Steel and Power Ltd, autos-to technology conglomerate Mahindra Group and consumer goods giant ITC Ltd have begun initial checks on vaccines being available to buy after the government covers priority segments.
Billionaire Anand Mahindra-led Mahindra Group said it was also interested in buying vaccines for employees.
Global consumer goods giant Unilever last week said it was strongly encouraging employees to get vaccinated as soon as possible and floated the idea that it could buy shots to share with people in poorer countries.
IRFC IPO Day 2
Today is the second day for the subscription to the Initial public offering of Indian railways finance corporation. To subscribe to the IPO click here. The below are the details of the subscription at the end of day.
Indigo paints IPO will be Open for Subscription tomorrow(20th Jan 2021). the below are the details of the IPO
Amazon Great Republic sale Live from Tomorrow
Amazon Great Republic sale will be live from Tomorrow 20th Jan. The sale will begin early for Prime member and it will be live for Prime Members from today (19th Jan). The following are the offers for the customers.
Reports are claiming that PUBG mobile will be launched in India this week. As reported by DNA, the game may be launched anytime this week. PUBG was banned by the Indian government citing the issues with the security and integrity of the nation. Now after multiple talks with the Indian government, PUBG had announced last year that it will come back and will launch the game gains. But the official date of launch was not announced by the company. But a trailer in the youtube channel raised the doubt that the game may be launched very soon.
In the mean time the Indian version of the game FAUG is scheduled to be launched on 26th January 2021 on the eve of Republic day of India. PUBG may be looking to launch the game before the launch of FAUG.
YesBank board to meet on Friday to consider the proposal of fundraising. Yes, the bank had gove for an FPO in July which got undersubscribed. The bank now again considering the proposal of fundraising.
Gold rate today: Yellow metal trades flat; may test Rs 49,150 per 10 grams level
Covishield not to be taken by people severely allergic to any of its ingredients: Serum Institute