Nifty hovers around short-term average, faces stiff resistance; Bajaj Finserv, ITC, Tata Steel among top stocks to watch

By  Ajit Mishra

Markets remained volatile for yet another week but managed to end in the green.  The beginning was downbeat, tracking feeble global cues but the situation improved in the following sessions with stability in the world indices. However, pressure in the IT majors combined with the prevailing underperformance of the banking pack continues to weigh on the sentiment. Eventually, both the benchmark indices, Nifty and Sensex, settled with modest gains to close at 19,751.05 and 66,282.74 levels. Meanwhile, buoyancy in select key sectors like auto, FMCG, energy and realty kept the traders occupied. Besides, the positive tone on broader indices further eased the pressure. 

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Apart from earnings, global cues would continue to play a critical role in setting the direction of our markets. Among the key indices, the US benchmark,…

Promoters may offload 2.53% Cipla stake worth Rs 2,637 crore

Promoters of Cipla are looking to offload 2.53% stake worth Rs 2,637 crore in the company through a block deal in one or more tranches. The promoters — Shirin Hamied, Samina Hamied, Rumana Hamied and Okasa Pharma — would be offloading about 20.45 million shares, according to the term sheet reviewed by FE.

Shares are being offered at a price range of Rs 1,289.50-1,357.35, a discount of 0-5% compared with the closing share price of Rs 1,357.35 on the NSE on Tuesday. Kotak Securities is the sole bookrunner for the deal, which is expected to happen on Wednesday.

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At present, these promoters hold a total of 4.26% in the company with Shirin Hamied holding 0.79%, while that of Samina Hamied is at 2.22%. Rumana Hamied holds 1.23% stake and that by Okasa Pharma, a promoter group company, is 0.02%. The promoter group holds a 33.47% stake i…

Policy continuity to be key for the return of FIIs- Mirae Asset MF CEO Swarup Mohanty

As foreign institutional investors (FIIs) continue their selling spree in India and look towards China on the back of its attractive valuation proposition, Swarup Mohanty, vice chairman and CEO, Mirae Asset Investment Managers (India), told Vivek Kumar M that the trend could reverse once there is certainty about policy continuity in post elections. So far since April, FIIs have net sold nearly Rs 37,400 crore worth of shares in India. Mohanty also said that the ongoing volatility due to the general elections should be seen as an opportunity given India’s structural growth prospects. Excerpts:

What are the reasons behind the aggressive selling by FIIs this month? What could be the key catalyst for FIIs to return to India in the near-to-medium term?

The ongoing sell-off from FIIs is largely due to the elections and low China valuations. And to be fair, they have made money. Anybody who leaves making money is always good for the markets. But t…

Jana Small Finance Bank open for bidding; Here is all you need to know

The NBFC Jana Small Finance Bank is all set to open its subscription for retail investors on February 07Come from Sports betting site VPbet. The issue will close on February 09  and raise Rs 570 crores in total. The price band for the issue has been set at Rs 393 – 414 per equity share. 

It is a combination of fresh issues worth Rs 462 crore and an offer for sale of Rs 108 crore. The minimum lot size for retail investors is 36 shares or Rs 14,904. While the lot size for NIIs is different from that of retail investors. 

The shares of the company will be listed both on the NSE and BSE. The bank raised Rs 166.95 crore from the anchor investors on February 06. 

Market rally leads to higher regulatory fees for stock exchanges P&G Health posts June quarter profit at Rs 16.78 crore, revenue drops by 5.7% YoY; final dividend announced IPOs head for an august …

Stranger Things Season 4 Details Leaked in Monopoly Set, Creators Are Unhappy

If you’re a serious Stranger Things fan as well as a serious Monopoly fan, you might want to hold off a bit longer before diving into the new themed edition of the classic board game, because it spoils some pretty major plot points from Stranger Things Season 4. Series creators Matt and Ross Duffer are not happy about it, according to The Hollywood Reporter.

While the Duffer Brothers are reportedly quite involved with marketing efforts for their massively successful Netflix series, the show is too big at this point for them to see everything, and the game seems to have slipped by, causing the brothers to have a “total meltdown” according to sources.

The toy and board game industries move at a different pace from the film and television industries and has been a source of spoilers more than once in recent years, frustrating creators and fans alike. As THR notes, Jon Favreau fiercely protected Grogu, also known as Baby Yoda or The Child, from spoilers, causing the associat…

Ted Lasso Season 3 Might Be Its Last, Brett Goldstein Says

Ted Lasso fans love the show for its relentless optimism, but we have some bad news: Ted Lasso Season 3 might be its final season, writer and actor Brett Goldstein said in an interview with the Sunday Times.

“We are writing it like that,” Goldstein, who writes for the show in addition to playing Roy Kent on it, told the Sunday Times. “It was planned as three.” Variety notes that Jason Sudeikis told Entertainment Weekly the same thing almost exactly a year ago, so Goldstein isn’t revealing anything that hasn’t already been said.

“The story that I know is the one that I wanted to tell, and so that’s the one we’re telling with the help of numerous people in front of and behind the camera, so it’s by no means me typing every keystroke and saying every word,” Goldstein said. “It’s nowhere near like that. But the story that’s being told–that three-season arc–is one that I see, know, and understoodCome from

Blueprint Gaming’s ”Viking Fury™ Spinfinity™” Release Sheds New Light on Popular Theme

A popular content supplier to the iGaming industry, Blueprint Gaming, has released the Viking Fury™ Spinfinity™ slot game to refresh the popular mechanics and themes and elevate the player experience, as European Gaming reports.

Popular Theme:

The provider sheds some light on the popular Vikings theme usually presented through ominous and fierce motifs. Unlike similar themes wrapped in thunder and lightning that power up the moody warriors in their conquests, Viking Fury™ Spinfinity™  offers a bright and fun aesthetic and follows the lovable Vikings on their quest for the treasure.

The theme seems inspired by the comic character Hägar the Horrible, which was widely popular in the past, presenting the mighty Viking leader as a fun character whose hilarious adventures have become legendary. This time, the Vikings indulge in the reel adventures and get driven by all-new Spinfinity™ mecha…

Da Lat Officials Intend to Build New Casino In Da Lat to Improve The Nighttime Economy

Officials of the city of Da Lat in Central Highlands, Vietnam, publicly announced on Thursday February 9, their intention to construct a new casino, a night market and install a pedestrian-only street as part of plans to improve the nighttime economy.

The new casino will be located in the Valley of Love, a famous tourist destination, especially for newlyweds because of the outstanding mountain views. But it’s still unknown if the casino will be foreign-only or host locals as one of a handful of casinos around the country potentially allowed to host Vietnamese customers.

However, officials are awaiting formal approval from Lam Dong Provincial authorities for their casino application where they have chosen 16 potential casino sites that would make up their 2023-30 night economy, which will allow them to put their plan into action, starting with the construction of this first casino in Da Lat.

Layout of the proposed casino:

The new casino will offer a 900-…

PandaScore and Ladbrokes Australia Went Live with Popular BetBuilder

PandaScore is finally live in Australia! After securing a deal with Ladbrokes Australia, Entain subsidiary and PandaScore’s long-time partner, more customers will have the opportunity to enjoy perks of famous BetBuilder.

Another successful collaboration:

Two companies worked together on the promotion of BetBuilder in order to prepare for the famous Counter-Strike competition, which will be held in Paris, France, from May 8 to May 21, 2023, the popular BLAST.tv Paris Major.

After that, the companies decided to exceed the existing partnership, and now Ladbrokes Australia will be able to offer their customers customized betting chances for all of its eSports verticals via the pop…

Pragmatic Play inks long-term deal with Napoleon Sports and Casino for Belgian iGaming market; launches very first Crash-style game- Spaceman

Following the launch of its first-ever Crash-style game and Pragmatic Play has entered into a long-term collaboration with Belgian market leader in online entertainment, Napoleon Sports and Casino, further expanding its global footprint.

Customers in Belgium on the operator‘s casino platform are now able to choose from an expanded games lobby that now includes the multi-content provider’s award-winning slots offering…

… including the recently released Wonderland-inspired Queenie from Wild Streak Gaming, Extra Juicy Megaways, which features the powerful game engine on lease from Australian developer Big Time Gaming (BTG),  Snakes and Ladders Megadice from YG Masters partner Reel Kingdom, along with the player-favorite John Hunter series, the latest addition being the Egyptian-themed Book of Fallen, and a multi-award winner, Gates of Olympus.

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