Indian stock markets are likely to open flat on Tuesday as investors seemed to have turned cautious over the corporate earnings for the quarter and the year ended 31 March 2018 after India’s second-largest IT company Infosys reported lowered the revenue guidance in its results released on Friday. The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, down 0.07% at 10,540 on Singapore Exchange on Tuesday.
These stocks will be in focus today
Vedanta: “A prolonged shutdown would be credit negative for Vedanta because of the potential loss of revenue and earnings from its copper operations in India,” Moody’s Investors Service said in a statement.
PNB: The dues by PNB’s big wilful defaulters rose to Rs 14,904.65 crore in February, up 2.1% from the previous month, according to the bank data.
Fortis Healthcare: Fortis Healthcare board will meet this week to “look at all eligible options” as two more parties have entered the fray to acquire it after its pact with Manipal Health Enterprises.
Alok Industries: Alok Industries said the application has been preferred by resolution professional for the liquidation of the company. Alok Industries had filed with NCLT at Ahemadabad on 16 April.
RCom: “There is no legal restriction anymore on the company to proceed with sale of its spectrum, MCNs and real estate, and RCom is duly proceeding with the same. As regards towers and fiber assets, the hon’ble NCLAT has fixed Wednesday, 18th April for hearing RITL appeal against order of NCLT,” Reliance Communications said in a press release.
Infosys: Shares of Infosys were one of the top losers among the components of BSE Sensex on Monday. The stock of India’s second-largest IT company Infosys plunged 3.1% to close at Rs 1,132.8 on BSE.
The rupee dropped 29 paise or 0.44% to finish at a six-month low of 65.49 against the US dollar on Monday on the concerns of widening trade deficit. The Indian rupee was the biggest loser among Asian currencies which suffered due to a strong US dollar after the strike on Syria by the US, the UK and France.
Indian stock markets on Monday
Indian stock markets ended higher for the eighth straight session on Monday with Sensex clinching up 100 points and Nifty retaking the 10,500-mark led by the gains in the heavyweight shares of HDFC twins, ITC and Kotak Mahindra Bank. Interestingly, Uday Kotak-led Kotak Mahindra Bank toppled India’s largest bank by assets State Bank of India to become country’s second-largest bank by market capitalisation on Monday. The domestic markets finished higher on Monday after trading in negative territory up until the mid-morning session led by an uptick in the shares of HDFC, ITC, Kotak Mahindra Bank and HDFC Bank. Indian equities posted their longest higher streak since late-November 2017.