A no parking sign is posted in front of the Bombay Stock Exchange in Mumbai, India. (Photographer: Prashanth Vishwanathan/Bloomberg News)
The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty's performance in India, fell 0.15 percent to 8,172.50.
Your Tuesday morning briefing. https://t.co/8migkHbSho pic.twitter.com/Voza8qrAoi
Here are the stocks to watch out for in today's session:
- Oriental Bank of Commerce: Cuts 1-year marginal cost of funds based lending rate by 80 basis points to 8.60 percent.
- ICICI Bank: Reduced its marginal cost of funds lending rate by 70 basis points across tenors, joining a handful of other banks in offering cheaper loans.
- Welspun Enterprises: Seeks shareholder nod for buying back up to 25 percent of its share capital for an aggregate consideration of up to Rs 270 crore.
- Tata Motors: Automaker reported a 2 percent rise in sales year-on-year in December led by a robust growth in the passenger vehicles segment and bus sales.
- Hero MotoCorp: December sales fell 34 percent, the company said in a media statement.
- TVS Motor Company: The two-wheeler maker reported an 8.47 percent decline in total sales at 1,84,901 units in December.
- Titan Company: Watches and accessories maker witnessed a ‘drastic slowdown' for a few days due to demonetisation, but a recovery in its modern retail and dedicated retail channels was clearly visible within a few days, the company said on Tuesday.
- Bajaj Hindusthan Sugar: Seeks shareholder approval for proposed sale of its co-generation power business to group firm Lalitpur Power Generation Co for about Rs. 1,800 crore.
- Laurus Labs: Conner Town Mulvee, the nominee director of one of its previous shareholder Aptuit (Asia), has tendered his resignation from the board with immediate effect. Aptuit sold its entire stake in the just concluded IPO of the pharmaceutical company.
- Aban Offshore: Completes sale of 59 percent of equity shares in two of its units - Aban Green Power and Rashapuram Pvt Ltd and also completes 49 percent acquisition in Aban Drilling Service Pvt Ltd.
- Power Grid Corp of India: Company transfers Power System Operation Corp Ltd. to Government of India for Rs 81.21 crore.
- Insilco: The silica maker's plant will continue to remain shut due to high inventory and low sales volume. The operations are expected to restart from January 4.
- Supreme Infrastructure India: Company gets a stay order against the order passed by Tahasildar of Palghar District to deposit Rs 7.3 crore, from High Court of Bombay.
- Andhra Bank: Lender reduces marginal cost of funds based lending rate by 80 basis points across maturities.
- Balrampur Chini Mills: Shareholders approve buyback of equity shares.
- Dhanuka Agritech: Shareholders approve buyback of equity shares. Can offer maximum of Rs 850 per share in the buy back.
- The Great Eastern Shipping Co: Signs contracts to buy two Suezmax Crude Carriers of about 1,57,000 deadweight tonnage each.
Also Read: Cash Crunch Puts The Brakes On Automobile Sales In December
BloombergQuint's poll throws up very diverse views on equities in 2017. https://t.co/r46T1Eydex
Media Reports
- State Bank of India: Chairperson Arundhati Bhattacharya hinted that the merger of its five associate banks and Bharatiya Mahila Bank could be pushed to the next financial year as it is still awaiting the government notification on the move. (PTI)
- Bharti Airtel: The telecom operator is in talks with Norway-based Telenor for buying its India business for $350 million. (Economic Times)
- Idea Cellular: The company is planning to raise up to Rs 1,000 crore by selling corporate bonds. The money could be used for the firm's 4G expansion. (Economic Times)
- Tata Steel: The company is inculcating the spirit of ‘start-up' with project Innovent, a programme aimed at developing business concepts that can be taken up for scale-up. (Business Standard)
- Steel Makers: Steel producers are mulling a steep price hike in January to pass on the surge in internation coaking coal prices, a key raw material used in the making of steel. (Business Standard)
- Venky's India: Saudi Arabia has temporarily banned imports of poultry products from India after the World Organisation for Animal Health reported an avian influenza outbreak. (Business Standard)
- ONGC: The country's largest hydrocarbon producer plans to spin off its difficult fields into a separate division that includes Gujarat State Petroleum Corporation's Deen Dayal Upadhyaya discovery in the Krishna Godavari (KG) basin. (Business Standard)
- Tata Power: The company's Odisha project shelved on account of de-allocation of its Mandakini coal block. (Business Standard)
- Adani Power: Promoters infused Rs 1,700 crore equity in Adani Power in fiscal 2017. (Business Standard)
- Infosys: CEO Vishal Sikka cautioned that the tidal wave of automation and technology-fuelled transformation could make the traditional information technology services obsolete. (Business Standard)
- Hindustan Petroleum Corp: Plans to invest Rs 1,200 crore in city gas distribution to expand network and build infrastructure. (Mint)
- Hathway Cable & Datacom: The company's subsidiary files for an IPO. (Mint)
- Exide Industries: The company to invest Rs 300 crore to expand capacity in West Bengal. (Mint)
- Insecticides India: Agrochemicals firm has tied up with Japan's Nihon Nohyaku Co for launching of new generation insecticides for different crops under the brand name SUZUKA. (PTI)
- Steel Authority of India: Recent coking coal price rise puts pressure on SAIL's operations. (Economic Times)
Here's a look at how key Asian leaders performed in 2016, reports @DavidTweed. https://t.co/EoKKHLyc5u pic.twitter.com/amdmjOyIdF
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