Indian stock markets are likely to open flat as Asian markets traded mixed in the early session today following a weaker closing on Wall Street overnight. The early indicator of NSE Nifty was trading little changed, down 0.1% at 10,517 on the Singapore Stock Exchange.
These stocks will be in focus today
RCom: Shares of Anil Ambani’s debt-laden telecommunications company RCom zoomed over 38% in the mid-morning trades on Tuesday. Anil Ambani said the total debt of the company would be reduced by Rs 39,000 crore and the company will close all the transactions by January-March 2018. In the Reliance Communications presser held on Tuesday, Anil Ambani said the company will exit the strategic debt restructuring plan with a zero write-off to lenders and bankers. Reliance Communications will be reducing its debt by monetising the assets of its wireless business and no part of the debt will be converted into equity under the new plan.
DLF: Realty major DLF announced that its promoters have concluded the sale of 33.34 per cent stake in its rental arm to sovereign wealth fund GIC for nearly Rs 9,000 crore.
Canara Bank: Canara Bank said it will raise up to Rs 3,500 crore capital through a qualified institutions placement (QIP) route.
Pidilite Industries: Adhesives and industrial chemicals manufacturer Pidilite Industries said its board has approved a share buyback proposal of up to Rs 500 crore.
Prestige Estate: Prestige Group said it has purchased 66.66 per cent stake in its group firm, which holds a land parcel of 180 acres in Bengaluru, from Red Fort India and landowners for Rs 324 crore.
November-GST collections: The GST collections slipped to their lowest in November after rates were cut on dozens of goods to make the new national sales tax regime more acceptable. Total collections under the Goods and Services Tax (GST) in November slipped for the second straight month to Rs 80,808 crore, down from over Rs 83,000 crore in the previous month, a finance ministry statement said.
The Indian rupee on Tuesday: The rupee ended lower by 3 paise at 64.08 against the US dollar.
Indian stock markets on Tuesday
India’s stock market closed higher on Tuesday with Sensex and Nifty closing at their respective record highs. S&P BSE Sensex gained 70.31 points or 0.21% to finish at a closing record high of 34,010.61 and NSE Nifty inched up 38.5 points or 0.37% to conclude at an all-time high of 10,531.5. Shares of Reliance Industries, Bharti Airtel, Sun Pharma and Yes Bank contributed the most to the Sensex gains. In the last half-an-hour session, Sensex spiked 121.58 points to hit the all-time high of 34,061.88 while Nifty jumped 52.45 points to mark the lifetime high of 10,545.45.
US stock markets on Tuesday
US stocks declined on Tuesday as Apple and shares of its parts suppliers weakened on a report of soft iPhone X demand, which pulled technology shares lower, Reuters said in a report. The Dow Jones Industrial Average fell 7.85 points, or 0.03 percent, to 24,746.21, the S&P 500 lost 2.84 points, or 0.11 percent, to 2,680.5 and the Nasdaq Composite dropped 23.71 points, or 0.34 percent, to 6,936.25.