Stocks of Airtel, PNB, Interglobe Aviation in focus today

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Published: December 13, 2017 9:16:33 AM

Indian stock markets are likely to open lower as retail inflation spiked to a 15-month high in November and also most of the Asian markets traded lower in the early session today.

The early indicator of NSE Nifty, SGX Nifty Futures was trading 0.31% down at 10,224.5 on the Singapore Stock Exchange.

Indian stock markets are likely to open lower as retail inflation spiked to a 15-month high in November and also most of the Asian markets traded lower in the early session today. The early indicator of NSE Nifty, SGX Nifty Futures was trading 0.31% down at 10,224.5 on the Singapore Stock Exchange.

These stocks are likely to be in focus today

Airtel: US-based private equity firm Warburg Pincus, which had completely exited from Bharti Airtel in 2005, returned to the company on Tuesday by buying a 20% stake in the telecom major’s direct-to-home arm Bharti Telemedia for $350 million. Under the deal, Bharti Airtel will sell 15% stake in Bharti Telemedia, while the remaining 5% will be sold by another Bharti entity, the company said in a statement.

PNB: Public sector lender Punjab National Bank said it has raised Rs 5,000 crore through qualified institutional placement (QIP) to fund expansion plan. The bank had floated the offer for raising Rs 3,000 crore with green shoe option of Rs 2,000 crore, which were fully subscribed, PTI reported citing unidentified sources. The sale comprised about 14 per cent of the bank’s outstanding equity.

Airtel: High-speed data services were launched in Ladakh area on Tuesday, the country’s coldest region where temperatures fall to minus 20 degrees, by Bharti Airtel under its ambitious ‘Project Leap’ programme of providing
connectivity across the nation.

InterGlobe Aviation: Two promoter entities of InterGlobe Aviation plans to offload shares worth at least Rs 1,245 crore through the offer for sale route today, according to regulatory filings.

The Indian rupee on Tuesday: The rupee ended lower by 3 paise at 64.40 against the US dollar.

Indian markets on Tuesday

Indian stock markets snapped the three-day gaining streak on Tuesday with the key equity indices Sensex and Nifty losing up to 0.8% each. BSE Sensex shed 227.8 points or 0.68% to finish at 33,227.99 whereas NSE Nifty lost 82.1 points or 0.8% to conclude at 10,240.15. During the day, the benchmark Sensex dived 276.04 points to hit a day’s low of 33,179.75 and the wider 50-share barometer Nifty tripped 92.05 points to mark the day’s low at 10,230.2. Domestic equities started off on a weaker note as investors turned cautious ahead of key macroeconomic data due later on Tuesday.

US markets on Tuesday

The S&P 500 and the Dow industrials registered record closing highs on Tuesday with a boost from bank stocks as investors eyed a potential cut in US corporate taxes and continued economic growth after strong inflation data, Reuters said in a report. The Dow Jones Industrial Average rose 118.77 points, or 0.49 percent, to 24,504.8, the S&P 500 gained 4.12 points, or 0.15 percent, to 2,664.11 and the Nasdaq Composite dropped 12.76 points, or 0.19 percent, to 6,862.32.

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