The Indian stock markets opened on a weak note on Monday following global cues.
At 10.12 am, Sensex was down 316.76 points at 27,795.55. Similarly, Nifty was down 85.85 points at 8,435.70 during the same time.
Global cues are lower with the Asian markets starting the week on a weak note amid losses on Wall Street and worries over China. Investors braced for a Federal Reserve meeting that might take another small step toward lifting US interest rates.
Here are the stocks that are likely to be in focus today:
Reliance Industries: Six-year-high refining margins take Reliance Industries Q1 net to Rs 6,222 crore. The company announced its first quarterly results on July 24. It reported a 4.4% jump in its net profit to Rs 6,222 crore in the April-June quarter, driven by better-than-expected gross refining margins.
JSW Steel: Leading alloy-maker JSW Steel will this week seek shareholders’ approval to raise up to Rs 4,000 crore through qualified institutional placement (QIP) and Rs 10,000 crore from selling non-convertible debentures (NCDs).
ONGC: State-owned Oil and Natural Gas Corp (ONGC) plans to invest over $8.8 billion in bringing to production its much-touted KG-basin oil and gas discoveries by 2018-19.
Larsen and Toubro: The stocks of Larsen and Toubro will remain in focus after Citi downgraded the company to “neutral” from “buy”. Citi says stock trading near fair value and it expects slow execution and order inflows in first half of 2015. Larsen & Toubro to announce April-June results on July 31.
Canara Bank: Canara Bank has paid a dividend of Rs 348.81 crores to the Government of India for the financial year 2014-15.
Power Finance Corporation: Power Finance Corporation: The offer for sale (OFS)of the company would take place today. Government has set the floor price for 5 per cent stake sale in PFC at Rs 254 a share, a discount of 2 per cent over the market price, which would fetch around Rs 1,600 crore to the exchequer.