IN FOCUS: Top stocks to watch in today's trading session
NEW DELHI: Domestic equity markets are likely to open on a flat to positive note on Wednesday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.
SGX Nifty was up 56.50 points, or 0.56 per cent, at 9,844.50 around 7.50 am (IST), indicating a positive start for NSE Nifty index.
Here is a list of top stocks that are likely to be in focus today:
Infosys : NR Narayana Murthy lauded what he termed as “corrective actions“ being taken by the newly appointed non-executive chairman of Infosys Nandan Nilekani, but the founder of India’s second-largest software services company told investors on a conference call on Tuesday evening that the “rejuvenation of the board was still a work-in-progress“.
Lux Industries: Innerwear manufacturer Lux Industries, which offers a complete range of innerwear for men, women and children across 12 brands, has roped in Bollywood actor Amitabh Bachchan as brand ambassador for LUX Venus and LUX Cott’swool. The endorsement fee for the actor is said to be in the range of Rs 6-10 crore, according to industry estimates.
Cadila Healthcare:Zydus Cadila said it has received establishment inspection report from the US health regulator for its manufacturing facility at the pharma SEZ in Ahmedabad. The plant had completed the USFDA audit from January 16-24, a company statement said.
NTPC: An offer for sale of shares of NTPC, India’s biggest power producer, was subscribed 1.4 times by non-retail investors on the first day. The government is selling a 5 per cent stake, or 41.22 crore shares, at a floor price of Rs 168 each. The government expects to garner Rs 7,000 crore from the twoday sale, with an option to retain a similar portion in case of over-subscription.
Reliance Capital: The BSE on Tuesday said Reliance Capital will be dropped from 11 S&P BSE indices with effect from September 5 as the company is demerging its real estate lending business.
Vijaya Bank: Bengaluru-based Vijaya Bank has managed to raise `700 crore by selling shares to institutional investors from both India and abroad in a qualified institutional placement (QIP) which closed on Tuesday .
RBL Bank: The lock-in for pre-IPO stock buyers in RBL Bank ended on Tuesday , but demand for shares at the lender with good asset quality helped absorb the additional supply .The stock rose more than 4% to Rs 532, with most analysts bullish on the company for its robust expansion, underpinned by a conservative lending policy.
Sugar stocks: The government has imposed stock limits on sugar mills, a move aimed at keeping prices stable during the festive season when consumption increases. It also asked states and union territories to take action against onion traders who engage in speculation and hoarding. While announcing the measures, food minister Ram Vilas Paswan said there was no shortage of sugar for domestic consumption