Markets traded in a volatile yet narrow range on the monthly expiry day and settled marginally lower, extending the ongoing consolidation phase. Technically, analysts continue to maintain our consolidation view on the Nifty until it decisively breaks out of the broader 20-day and 100-day EMA range of 23,800–24,200. On the sectoral front, most key sectors -- barring IT -- continue to contribute on a rotational basis, while the broader indices are maintaining their positive bias.
In today's trade, shares of Kotak Mahindra Bank, Tata Motors, HDFC Bank, IndiGo, Coal India among others will be in focus due to various news developments.
Tata Motors has launched the Sierra EV in India, marking the return of one of the most recognisable nameplates in the country's automotive history — this time as a fully electric SUV loaded with technology that the company says sets several segment and national firsts.
Country’s largest private sector lender by both assets and market capitalisation, HDFC Bank, is set to appoint Jigar Shah as the general counsel. He is currently managing director and head of compliance at a local subsidiary of bulge-bracket private equity firm KKR.
IndiGo announced the resignation of its Chief Human Resources Officer Sukhjit Singh Pasricha, who has been with the airline for over eight years, and will be replaced by Kanwal Jeet Singh Bakshi. Bakshi is currently the Group Head of Human Resources at IndiGo.
Coal India Ltd (CIL) said on Tuesday it would invest nearly Rs 1,900 crore in research and development (R&D) activities by FY2030 to improve productivity in its mines and reduce emissions. With the investment, the company is aiming to commercialise cleaner coal technologies and also develop alternative energy sources in sync with the changing energy scene.
Kotak Mahindra Bank said on Tuesday it would buy Deutsche Bank's retail banking, private banking and wealth management business in India for about Rs 282 crore ($29.79 million), as the German lender exits retail banking in the country.
