Zee Entertainment, SBI Cards, Reliance Industries, Torrent Power, Infosys, Nucleus stocks in focus

Ingenious futures turned negative in trading, dropping 34.50 points to 17,527 on the Singapore Stock Exchange, indicating a gap opening down for BSE Sensex and Nifty 50 On Wednesday. After two days of sharp correction, the benchmark indices witnessed a sharp pullback while Nifty found support at 17326 to reverse the downtrend. Investors will continue to watch the specific development of stocks, the current Evergrande crisis, crude oil prices, the movement of the rupee against the dollar and other global signals. “Technically, the texture of the strong reversal formation near the 10-day SMA suggests a further uptrend from the current level. We are of the opinion that while the short-term trend is still upward, uncertain global market conditions could put the Nifty within the range of 17650-17450 levels. For intraday traders, as long as the index is trading above 17450, the pullback rally is likely to continue to the 17600-17650-17680 levels. On the other hand, an index below 17430, the uptrend would be vulnerable, ”said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.

ZEEL: Zee Entertainment Companies has signed a merger agreement with Sony Pictures Networks India Private Limited. Under the agreement, Sony Pictures Entertainment will inject $ 1.57 billion into the merged entity. The Board has evaluated not only the financial parameters, but also the strategic value that the partner brings. The Board concluded that the merger will benefit all shareholders and interested parties.

OSE Cards and payment services: Societe Generale acquired 85.06 lakh of company shares at Rs 1,021 per share, while Carlyle's entity, CA Rover Holdings, sold 1.6 million shares at Rs 1,021.25 per share and 1.6 million shares. capital at Rs 1,021.01 per share on the NSE, data from bulk trading showed. .

RIL: Dependency industries Ltd Likely to Take Over Stressed Polyester Maker JBF Industries in consortium with CFM Asset Reconstruction Company (ARC), two people familiar with the matter told The Financial Express. Bankers had requested takeover bids in July, and Ahmedabad-based CFM ARC is believed to have submitted an offer of 825 million rupees for the company, which owes its lenders 2,116 million rupees.

Power of the torrent: Torrent Power said Tuesday that it signed a share purchase agreement to purchase the entire 156 megawatt (MW) stake of CESC's wind power plants at an estimated enterprise value of Rs 790 million.

Infosys: Leading IT services company Infosys announced Tuesday its collaboration with digital workflow company ServiceNow to provide enterprise-level service management for customers in manufacturing industries.

Nucleus software exports: Nucleus Software said its board of directors will consider the proposed repurchase of the company's fully paid capital shares on Friday.