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Formal certification of Biden presidency and Trump promising smooth transition of power have further pushed US markets higher. Even though this might embolden our bulls too, there are some areas of concern. FII inflows are steadily declining and low- grade stocks are touching record highs. Irrational retail investor enthusiasm for ‘cats & dogs’ is an indication for caution. This is not the time for exuberance. Investors can use the present excessive optimism to sell poor quality stocks in the portfolio.
– VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
IDFC rises 2% after Sipadan Investments brings its stake to zero
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Om Metals Infra emerges as lowest bidder for Rs 621 cr project in Punjab
The company said it is L1 (Lowest) in competitive bidding in Shahpurkandi power house project worth value Rs 621 crore tender for the Construction of Two power houses, their appurtenant works an part of Hydel Channel of Shahpurkandi Dam Project on EPC mode from Water Resource Department, Government of Punjab. It is positively awaiting for LOI from Government of Punjab on merits for this tender. The stock hit upper circuit following the announcement.
M&M goes for 2% price hike for its vehicles
Mahindra & Mahindra announced that effective January 8, 2021, the prices of its range of personal and commercial vehicles will increase by around 1.9%, resulting in an increase of Rs 4,500 – Rs 40,000, depending on the model and variant. In the case of All New Thar, the current price increase will be effective for all bookings done between December 1, 2020 and January 7, 2021. All fresh bookings for All New Thar, effective January 8, 2021, will have prices as applicable on the date of delivery.
The index faces resistance at the 14,250. If we can consistently trade above that price point we should target 14,350-14,400 as the next target. The market has a good support at the 13,900-13,950 zone.
– Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
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Tata Power bags Rs 488 crore order in Kerala
Price as on 08 Jan, 2021 10:10 AM, Click on company names for their live prices.
Gold and silver futures prices in the domestic dipped on Friday as the US dollar recovered against its rival currencies, however losses were limited as hopes of stimulus grew after the path for Biden’s presidency in the US cleared.With control over the U.S. Senate, Democrats have more power to advance Biden’s agenda from coronavirus relief to infrastructure spending. Many investors view bullion as a hedge against inflation and currency debasement that they fear could result from large stimulus measures.
In 2021, we believe the momentum is set to continue for bitcoin and witness increased demands from institutions’ at the global level. In India, we expect…
Go to the news source: sensex today: Stock Market Live: Sensex gains 400 points, Nifty at 14,270; Indus…