The company has set January 7 as the record date for its rights offering wherein Majesco USA's shareholders will be issued subscription rights. This offer will help Majesco raise funds for its recent Exaxe acquisition.

Asset under management of the domestic mutual fund industry at the end of November 2018 shows that investors from B30 prefer equities while the presence of institutional investors in T30 cities tilt asset towards non-equity assets.

Overall volumes in futures & options currently stand at 3.63 crore contracts with a turnover of Rs. 21,62,816.58 crore.

Overall volumes in futures & options currently stand at 3.63 crore contracts with a turnover of Rs. 21,62,816.58 crore.

Going ahead, we expect Nifty to continue its upside momentum; however, the level of 10,882 is likely to act as an immediate resistance.A breach of this resistance will allow the index to scale towards the zone of 10,920-10,950. On the flip side, the gap area which was formed on December  27 (10747.50-10764.45) is likely to act as support for the index. 
Stocks in news: Tata Steel Ltd, Rane (Madras) Ltd, Lemon Tree, Tata Power, Selan Exploration Technology, Kansai Nerolac Paints, Suven Life Sciences.

Indian markets are expected to extend their jubilant run, shrugging of mixed cues from the Asian peers. The SGX Nifty indicates that Nifty could open around the level of 10,867, with a gain of 58 points.    

The stocks that are most likely to witness significant movement on the bourses on December 28, 2018 are Selan Exploration Technology, Hindustan Construction Company, Man Industries (India), Infosys and Suven Life Sciences.

Dr. Reddy’s Laboratories has bagged the USFDA approval for Sevalamer Carbonate for oral suspension. Shares of the company, however, were trading in the red zone. 

The Union Cabinet has given in principle approval for the strategic sale of 52.63 per cent government stake in REC Limited (REC) to Power Finance Corporation Limited (PFC). The deal also involves the transfer of management control to PFC.

The Board of Directors of Selan Exploration Technology Limited (SETL) announced the buyback of equity shares for an aggregate amount of Rs. 25 crore. They also declared an interim dividend of Rs. 5 per equity share for FY2018-2019.