One of the major skin care and healthcare brands in India, Emami Group, is in talks with American multinational investment bank-JP Morgan for raising Rs 1,500 crore through Non-Convertible Debentures (NCDs).

We expect to witness a pullback rally, but the sell on rise would be a preferred strategy for the market participants as long as Nifty stays below the 12,250 mark. Stocks in news: Oil India, UPL, Datamatics Global Services, Cipla, MRF, ITI.

In the early trend, SGX Nifty is trading above the dotted lines indicating a flat to positive opening for Indian markets. However, cautious would continue to prevail on the D-Street as the global cues could play a spoil sport as the markets participants assess China virus impact. At the time of writing, SGX Nifty was up by 6 points at 12,146 levels.

The stated debentures offer an effective yield of up to 10.25 per cent along with 0.20 per cent additional interest for tenure of 18 months, 36 months, 60 months and 120 months. 

The following stocks will be in focus during Thursday’s trading session in the light of their result announcements: Biocon, PVR, Radico Khaitan, HDFC Life Insurance Company and Cholamandalam Investment Finance Company.

ICICI Lombard announced that it has received a green signal to pilot five innovative applications and programs in its health and motor portfolio under the Insurance Regulatory and Development Authority of India (IRDAI) introduced Sandbox project. The company is to pilot the five proposals from February 1, 2020 to July 31, 2020.

The port rail corporation is a Government of India (GoI) enterprise, which has given the work order for modification in Jawaharlal Nehru Port trust (JNPT) rail yard and further work of development of integrated common rail yard facility at JNPT in Navi Mumbai.

During Wednesday’s trading session, Sensex and Nifty erased their gains as Sensex slipped by 0.50 per cent and closed at 41,115.38 level while, Nifty closed at 12,106.90, down by 0.52 per cent.

Power Mech Projects announced that it has received orders worth Rs 351 crore in total. As a result of this announcement, the stock of the company gained by more than 2 per cent.