1. Stocks PNB, IndusInd Bank, ONGC, IDFC will be in focus today

Stocks PNB, IndusInd Bank, ONGC, IDFC will be in focus today

Sensex and Nifty are likely to open lower as the early indicator of NSE Nifty 50 -- SGX Nifty Futures -- was trading down 0.16% at 9,721 points on the Singapore Stock Exchange.

By: | Published: September 28, 2017 9:11 AM
National Stock Exchange building (Image: NSE)

Sensex and Nifty are likely to open lower as the early indicator of NSE Nifty 50 — SGX Nifty Futures — was trading down 0.16% at 9,721 points on the Singapore Stock Exchange. Meanwhile, most of the Asian shares rose in the early trade following the optimism over President Donald Trump’s tax-cut plan.

These shares will be in focus today

Punjab National Bank: Public sector lender Punjab National Bank (PNB) said its board has approved raising up to Rs 11,000 crore through various securities. The Board of Directors today accorded approval for raising common equity tier capital up to Rs 5,000 crore as per Basel III requirements, the bank said in a BSE filing.

IndusInd Bank and PNB: Air India has tied up with public sector lender Punjab National Bank and private lender IndusInd Bank to secure loans to the tune of over Rs 3,000 crore for meeting working capital requirements, PTI reported.

ONGC: Nearly 25 years after ONGC’s prime discovered oilfields were privatised, the government is planning to allow private firms to take a majority stake in the state-owned firm’s producing oil and gas fields such as Mumbai High. The Oil Ministry plans to approach the Cabinet soon for allowing private firms to take participating interest (PI) in a nomination block, PTI reported.

IDFC, IDFC Bank, Shriram Transport Finance and Piramal Enterprises: Piramal Enterprises chairman Ajay Piramal said the deal structure of the proposed merger of Shriram Group and infra lender IDFC is still being looked at.

Today’s business schedule

Finance Minister Arun Jaitley will meet industry representatives, including exporters, to deliberate upon the problems being faced by them with regard to the Goods and Services Tax (GST), PTI reported. The finance ministry and the RBI are scheduled to hold a meeting today to decide about borrowing calendar for the second half of the current fiscal.

Indian Rupee on Wednesday: The rupee continued to bear the brunt of panic dollar demand and plunged by a whopping 27 paise to end at 65.72 a dollar, its lowest level in six-and-a-half months, amid concerns over foreign capital outflows.

Indian markets on Wednesday

The key equity index Sensex dropped heavily on Wednesday after a relatively strong opening since the last 5 sessions. BSE Sensex plunged 500 points to hit the day’s low of 31,100.8 points – to its 2-1/2 month low, before closing down 440 points at 31,159.81 points and NSE Nifty shaved off as much as 157 points to mark the day’s low of 9,714.4 points before settling 136 points lower at 9,735.75 points. The pessimism amid the market participants is at peak as the tensions in the Korean peninsula remain elevated and the risk for a US Federal Reserve to hike the interest rate in December also grown after Janet Yellen’s remark.

US markets on Wednesday

U.S. stocks ended up on Wednesday, as gains in financial shares were powered by increasing expectations for a December rate hike and on hopes President Donald Trump’s administration may be making progress on a tax plan. Based on latest available data, the Dow Jones Industrial Average rose 56.39 points, or 0.25 percent, to 22,340.71, the S&P 500 gained 10.2 points, or 0.41 percent, to 2,507.04 and the Nasdaq Composite added 73.10 points, or 1.15 percent, to 6,453.26.

  1. T
    Tejakhan
    Sep 28, 2017 at 2:05 pm
    Good news for Indusind Bank. s: bloghunt.me/
    Reply

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