The BSE Sensex and the NSE Nifty 50 are likely to track positive global cues on Monday. The Sensex closed at 37,947.88, higher by 284.32 points, while the Nifty 50 surged 85.70 points to 11,470.75. For the week, the Sensex surged by 0.3 percent, while the Nifty gained half a percent.
These are the stocks making the biggest moves premarket: Vedanta: The mining giant has said it will be investing $2.3 billion towards capex on its oil and gas activities in the 'near term' to increase the reserve base by around 375 million barrels. According to its latest annual report, Vedanta aims to increase production from the current 200,000 barrels of oil equivalent per day to 300,000 boepd over the next few years. ONGC: State-owned firm will not sell its stake in IOC and GAIL in the near future as it has used internal resources to repay close to a third of the Rs 24,881 crore loan it had taken to buy HPCL. ONGC had in January received government approval to sell its 13.77 percent stake in IOC and 4.86 percent state in gas utility GAIL India to help fund. Jubliant Life Sciences: The pharma company has earmarked Rs 550 crore for capital expenditure (capex) in the current financial year. It is also planning to invest Rs 300 crore in research and development (R&D) in FY19. Eicher Motors: VE Commercial Vehicles (VECV), a joint venture of Volvo Group India and Eicher Motors, is developing a new line of products, including a complete range of electric vehicles for public transportation, Eicher Motors CEO Siddhartha Lal said. The company has earmarked a capex of Rs 500 crore for 2018-19 towards new product development and capacity expansion. Coal India: State-run CIL expects 367 million tonne output by the end of the current financial year from its 115 ongoing projects. The public sector undertaking accounts for over 80% of India’s coal production. L&T: To consider a proposal for buyback of equity shares on August 23, 2018. Infosys: The IT firm announced that the Board of Directors at its meeting on August 17 accepted the resignation of MD Ranganath as the CFO. Ranganath will continue in his current position till November 16, 2018. RCom: Relief for Reliance Communications, after the Supreme Court stayed the tribunal's order, which allowed the government to raise a Rs 4,200 crore demand against the company over 800 MHz spectrum. Aviation stocks: India led the Asia Pacific region in posting the highest growth in air passenger traffic in May at 13.3 percent. The growth in China in comparison stood at 8.3 percent and South Korea at 8.1 percent, said the Airports Council International in its latest study released this month. Sail: The government's audit watchdog CAG has pulled up the public sector steel giant for being heavily dependent on imported coking coal despite having three mines for captive use. State-run SAIL requires about 15 million tonne (MT) coking coal annually, of which 12-13 MT is imported, CAG noted in its latest report. Bank stocks: A parliamentary committee looking into the issue of mounting non-performing assets (NPAs) has asked former RBI governor Raghuram Rajan to appear before it and brief on the matter. Rajan was invited after former Chief Economic Advisor (CEA) Arvind Subramanian praised him before the Parliament's Committee on Estimates, headed by veteran BJP leader Murali Manohar Joshi, for identifying the NPA crisis and trying to resolve it. Jet Airways: Aviation company is in talks with True Jet for subleasing of ATR aircrafts, it clarified to the NSE. Jet Airways said it is evaluating all possible alternatives for optimum fleet utilisation and committed to making appropriate disclosures as per SEBI regulations.