The Indian market is likely to start on a weak note on Thursday tracking subdued global sentiments after a day’s break on account of Independence Day. The Sensex ended 207.10 points higher at 37,852 on Tuesday, while the NSE Nifty 50 settled at 11,435, higher by 79.35 points.
These are the stocks making the biggest moves premarket:
Jet Airways: Blackstone Group LP is in talks to buy a stake in the loyalty program of Jet Airways India Ltd., the troubled Indian carrier that’s exploring options to raise cash, according to Reuters report.
Reliance Industries: The oil-to-telecom conglomerate has reportedly halted gasoline shipments from Jamnagar site causing fuel margins to spike. Also, registrations for Reliane Jio’s optical fibre based fixed-line broadband services have begun.
Kotak Mahindra Bank: RBI said bank's Perpetual Non-Cumulative Preference Shares issuance does not meet the regulator’s promoter holding dilution requirement.
Indiabulls Real Estate: The real estate company’s Q1 consolidated net profit fell by 0.9 percent at Rs 117 crore versus Rs 118.50 crore; consolidated net revenue was up 38.5 percent at Rs 810.9 crore versus Rs 585.6 percent crore (YoY).
Fortis Healthcare: Shareholders approved IHH's proposal to buy the company. Also, Q1 net loss was Rs 52.8 crore versus profit of Rs 22.6 crore; revenue was down 9.9 percent at Rs 1,042 crore versus Rs 1,156.6 crore (YoY).
ONGC: The aviation ministry has said that ONGC has given its unconditional, irrevocable commitment to sell its 49 percent stake in Pawan Hans.
UCO Bank: The bank has entered into an inter-creditor agreement for resolution of stressed assets.
Dilip Buildcon: Q1 net profit stood at Rs 255.5 crore versus Rs 122.2 crore; revenue was up 46.4 percent at Rs 2,436.3 crore versus Rs 1,664.1 crore (YoY).
UPL: The company has subscribed to 10,533 equity shares in Weather Risk Management Services Private Limited (WRMS) constituting 5.01 percent (on a fully diluted basis) in the paid-up share capital of WRMS, Moneycontrol reported. Consequent to the above, UPL's total shareholding in WRMS will increase from 26 percent to 31.01 percent.
Hathway Cable: Q1 net loss stood at Rs 2.63 crore versus net profit at Rs 27.16 crore; revenue was up 0.6 percent at Rs 129.8 crore versus Rs 129 crore (YoY).
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