Stocks in focus: Bharti Airtel, Dixon Technologies, Ambuja Cements, IndusInd Bank, Magma Fincorp

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© Provided by The Financial Express According to an analyst, the short term trend seems to have turned down and the near term uptrend status remains intact for the Nifty. Image: Reuters

Nifty futures were trading 39.50 points or 0.26 per cent up at 15,235.50 on Singaporean Exchange, indicating a positive opening for BSE Sensex and Nifty 50 on Thursday. According to an analyst, the short term trend seems to have turned down and the near term uptrend status remains intact for the Nifty. “The weakness of the last two sessions is expected to complete in the next 1-2 sessions. Important supports to be watched around 15000 and we expect market to show upside bounce from the lows. On the contrary side, a decisive move below this 15K mark could open more weakness in the short term,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities said.

Stocks in focus today:

Bharti Airtel: Bharti Airtel on Wednesday said it will acquire 20 per cent stake in its DTH arm Bharti Telemedia from an affiliate of Warburg Pincus for about Rs 3,126 crore. The Warburg Pincus affiliate had acquired 20 per cent stake in Bharti Telemedia in 2018 after the announcement of the deal in December 2017.

Dixon Technologies, D-Link India: Stocks of ITI, Sterling Technologies, Tejas Network, Shyam Telecom, Dixon Technologies and D-Link India Ltd will be in focus as the Union Cabinet on Wednesday approved a Rs 12,195-crore production-linked incentive (PLI) scheme for telecom equipment manufacturing in the country to boost local manufacturing.

Ambuja Cements: A total of five BSE-listed companies such as Ambuja Cements, Enkei Wheels, RCL Retail, Rollatainers and Twinstar Industries are scheduled to announce their quarterly earnings on February 18.

IndusInd Bank: IndusInd Bank has said its promoter IIHL has completed its rights issue, which was oversubscribed at over Rs 2,021 crore. The rights issue was oversubscribed and IIHL raised capital at an overwhelming premium of 1,400 per cent towards the subscription of this rights issue.

Magma Fincorp: Adar Poonawalla-controlled Rising Sun Holdings Pvt Ltd along with two other individuals have made an open offer to buy an additional 26 per cent stake in non-banking financial company Magma Fincorp for a consideration of more than Rs 1,391 crore.

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