Indian markets expected to open higher due to strong Asia cues. Dow Futures are trading with 50-100 points gains.
Nifty continues to see open interest addition for rangebound trade. Range remains
for 10600-830 levels. Nifty resistance seen at 10750, 10680; support seen at 10520, 10600.
Bullish positions is seen in OMCs, Paint, Consumption and financial stocks. Among stocks, bullish positions is seen in TCS, Yes Bank, Kotak Bank, Asian Paints & Ultratech Cement.
Here are some stocks which will be in focus today.
Uttam Galva Steels/Dish TV: Shares of Uttam Galva steels and Dish TV will be in focus today as both companies will be detailing their quarterly results.
Shriram Transport Fin/Shriram City Union: According to a report in Business Standard, Shriram Group may consider merging two of its listed non-banking finance companies - Shriram Transport Finance and Shriram City Union Finance to pave way for listing Shriram Capital.
PNB/PNB Hsg Fin: Reports suggest that Punjab National Bank has hired Credit Suisse to help sell its stake in PNB Housing. The stake sale is expected to fetch Rs 6600 cr via sale of 33% stake it holds in PNB Hsg.
IDBI Bank: Economic Times report that LIC is selling equity holdings worth Rs 12000 cr to fund IDBI Bank stake buy.
GVK: Infra co GVK announced financial closure for the Navi Mumbai International Airport Project. YES Bank to be the lead bank and mandate lead arranger for Phase I and Phase II of Project.
Cadila Health: Zydus Cadila got USFDA tentative approval for Deferasirox Tablets, estimated sale for Deferasirox tablets in U.S. is $150.3 mn.
DB Corp: Co's Shareholders' approved Rs 313 cr buyback plan. The buyback 92 lk shares will be at Rs 340/share.
Fortis Healthcare: Mint reports that IHH is likely to have sealed Fortis deal with Rs 4700-5400 cr bid. IHH has outbid Manipal and agreed to an open offer at premium to average market price.
Ashok Leyland: CV maker Askok Leyland has plans to scale up its LCV Business and international operations.
IOC, BPCL, HPCL: CCI Dismissed a complaint alleging unfair business practices against Cos.
SHREE CEMENT: Seeks Shareholders' Nod For Borrowing Limit Up To Rs 10,000 Cr.