Stock Market Today: GIFT Nifty indicates a flat start; HDFC Bank, Paytm in focus

Stock Market Today: Dalal Street appeared set for a subdued start on Monday as the GIFT Nifty on the NSE IX fell 14.5 points, or 0.07 percent, to 22,234.50. On Friday, the Nifty closed flat but above 22,200, forming a higher high and higher low series pattern on the daily and weekly charts. Monday's opening of Tokyo equities was positive following new highs on Wall Street.In early trade, the benchmark Nikkei 225 index was up 265.38 points, or 0.68 percent, at 39,364.06, while the Topix index as a whole gained 16.24 points, or 0.61 percent, to 2,676.95.

Stock Market Today: Stocks in focus

HDFC Bank

In an exchange filing, the bank announced that it has obtained permission from the Reserve Bank of India (RBI) to divest 90% of HDFC Credila's entire issued and paid-up share capital. The exchanges were informed on June 20 of last year by HDFC Ltd. (which has since merged with HDFC Bank) that it had finalised negotiations for the possible sale of a 90 percent stake in HDFC Credila to a group of private equity firms for about Rs 9,060 crore.

Reliance Industries

Industry sources familiar of the situation stated that the company plans to establish more than 50 compressed biogas (CBG) facilities at a cost exceeding Rs 5,000 crore over the next two years. RIL chairman Mukesh Ambani had declared intentions to establish 100 CBG units in five years at the company's annual general meeting in August of last year. A green fuel made from waste or biomass sources is called CBG.

Paytm

The head of the panel, M. Damodaran, was quoted by the Press Trust of India on Sunday as saying that the advisory council, which was established by One97 Communications, the owner of Paytm, following the Reserve Bank of India's action on its payments bank, has not yet started further conversations to find any issues. "We are outside consultants. "They (Paytm) are currently working with RBI," stated Damodaran during the launch of his autobiography, "The Turmeric Latte," which was put together by one of his old Sebi (Securities and Exchange Board of India) colleagues.

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