Fifteen stocks in focus on Wednesday, 4 January 2017
NEW DELHI: Domestic equity markets are likely to open on a flat note with positive bias on Wednesday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.
SGX Nifty was trading 18 points, or 0.22 per cent, up at 8,208.50 in morning trade, indicating a positive start for domestic equity markets.
Asian peers Nikkei and Shanghai indices were trading higher by 2.07 per cent and 0.04 per cent, respectively, while Hang Seng was down by 0.14 per cent.
The US dollar touched a 14-year high and major stock markets got off to a solid start in the new year, boosted by strong data, while debt yields edged up after upbeat economic figures out of China and Europe.
On Wall Street, Dow Jones Industrial Average index settled 119.16 points, or 0.60 per cent, up at 19881.76, while Nasdaq Composite index closed 45.97 points, or 0.85 per cent, up at 5,429.08.
Here is a list of 15 stocks that are likely to remain in focus on Wednesday in response to various news triggers:
Engineers India: The company on Tuesday informed bourses that the Committee of the Board of Directors in its meeting held on Jan 3, has approved the issue and allotment of 33.69 crore bonus equity shares in the ratio of 1:1 to the existing shareholders holding shares at the close of business hours on the record date ie Jan 2.
HDFC and Bank of India: Housing finance major HDFC and state-run Bank of India cut benchmark lending rates by up to 0.90 percentage point on Tuesday.
MOIL: The company on Sunday increased prices for electrolytic manganese dioxide and chemical grades ore by 5 per cent and 10 per cent, respectively.
Glenmark Pharmaceuticals: The pharma major has received final approval from the US health regulator USFDA for sale of Tretinoin Capsules, used in treatment of leukemia.
Indiabulls Housing Finance: Indiabulls Housing Finance on Tuesday reduced its home loan rates by 45 basis points, bringing it down to lowest in six years.
Corporation Bank: The bank lowered 1-year MCLR rate by 0.70 per cent to 8.75 per cent.
Nandan Denim: The Reserve Bank of India on Tuesday notified that foreign portfolio investors can now invest up to 49 per cent in Nandan Denim against 24 per cent earlier.
Punjab and Sind Bank: Another public sector lender Punjab and Sind Bank also cut the one-year MCLR to 8.75 per cent, down by 0.8 per cent.
Bharti Airtel: In a bid to let customers experience 4G network at affordable prices, Bharti Airtel on Tuesday said it will offer free data for 12 months, worth up to Rs 9,000, to customers who switch to Airtel 4G.
ONGC and Cairn India: Ahead of the Budget, state-owned oil producer ONGC and private sector Cairn India have asked the government to cut cess on crude oil saying the switchover from fixed to ad valorem rates had turned things from bad to worse.
Bombay Dyeing: Nusli Wadia’s 137-year-old flagship Bombay Dyeing and Manufacturing Company has drawn up a major strategy to revive its textile retail business and is looking for a turnaround in 2017-18.
Wockhardt: According to reports, the US Food and Drug Administration has issued a warning letter to Wockhardt‘s Ankleshwar plant. The company told ETNow that the warning letter for Ankleshwar facility is not a new development. It is a follow up on import alert on Ankleshwar.
Coal India: In a bid to ensure adequate availability, state-owned Coal India will this month begin the second phase of auction of coal linkages for the non-regulated sector and is likely to put on offer 14.5 million tonnes of fuel.