Indian shares looked set for positive start on Wednesday, following a rebound on Wall Street but investors' sentiment is likely to remain cautious on global growth worries and slew of corporate earnings back home. Stocks such as IL&FS, Fortis Healthcare, Tata Steel, Bank of Baroda are likely to move in trade today.
Indian shares looked set for positive start on Wednesday, following a rebound on Wall Street but investors' sentiment is likely to remain cautious on global growth worries and slew of corporate earnings back home.
At 06.50 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.62 percent to 10,292, indicating a negative start for the Indian market today.
Here are the top stocks to watch out for in today's trade:
Fortis Healthcare: Anti-trust regulator Competition Commission of India (CCI) has approved the IHH Healthcare’s acquisition of a controlling stake in Fortis Healthcare.
IL&FS Transportation Network: IL&FS Transportation Network, an entity of the crippled IL&FS group, Tuesday said it has again defaulted on interest payments on six of its NCDs. The company in a regulatory filing said all the payments were due between October 29 and 30, 2018.
ITC: Diversified conglomerate ITC Limited has decided to enhance its dairy portfolio by entering the paneer and milkshakes segments within two months, a company official said on Tuesday.
Punjab National Bank: Sebi on Tuesday exempted the government from making an open offer to the shareholders of Punjab National Bank (PNB) following the proposed equity infusion that will hike its stake in the state-owned lender by nearly six per cent. The central government, a promoter of PNB, has proposed to infuse capital worth Rs 5,431 crore against allotment of equity on preferential basis.
State Bank of India: The country's largest lender SBI has halved the daily cash withdrawal limit from ATMs for certain debit-card holders to Rs 20,000 from Wednesday.
Tata Steel: The European Commission said on Tuesday it was investigating whether a planned joint venture between Indian steelmaker Tata Steel and Germany's ThyssenKrupp could reduce competition in the high-end steel sector.
Coal India: The government is stepping up its divestment drive as it will sell 3 percent stake in Coal India on Wednesday for Rs 266 a share through offer for sale (OFS) route. The sale is likely to fetch the exchequer Rs 5,000 crore.
Bank of Baroda: The bank posted a 19.7 percent rise in second-quarter net profit on Tuesday as the lender made lower provisions for bad loans amid strong growth in retail banking.
Tech Mahindra: IT services major Tech Mahindra on Tuesday posted a 27 percent year-on-year (YoY) rise in net profit at Rs 1,064.33 crore for the quarter ended September 30, 2018 as it clocked more deals in the July-September period.
Results on Wednesday: L&T, Vedanta Ltd, Dabur India, Tata Motors & DVR, Lupin, Canara Bank, Adani Power, Castrol India, Ajanta Pharma, Escorts Ltd, Syndicate Bank, Balrampur Chini Mills, HEG, Honeywell Auto, AIA Eng, Sanofi India, Reliance Nippon, TI financial, Future Lifestyle, Blue Dart Express, Cochin Shipyard, Gujarat Pipavavport, Narayana Hrudayalaya, Moil Ltd, Kalpataru Power Trans, Prism Johnson, Jagran Prakashan, Sharda Cropchem, Minda Corporation, Schneider Electric Infra, Himachal Futuristic, Navneet education, Kei Industries, Heritage Foods, GHCL, ITD cementation, Dhampur Sugar, Dixon Tech, Acrysil Ltd, Adani green, Bajaj Steel, Balaji Amines, BF utilities, Filatex India, Hindustan Urban Infra, Indostar Capital Finance, LG Balakrishnan & Bros, Mafatlal Industries, Matrimony.com, Nitin spinners, Orient paper, Ramco industries, Ramco system, Sanwaria consumer, Siti network, Srikalahasthi pipes, TBZ, Tinplate.