Indian stock markets are likely to open lower on Thursday following the decline in the major indices on Wall Street after US Federal Reserve hiked the interest rates as expected and signalled two more hikes by the end of this year. The early indicator of NSE Nifty, SGX Nifty Futures was trading 0.25% lower at 10,818 on the Singapore Exchange on Thursday.
These shares will be in focus today
RCom: Reliance Communications has said that the number of employees have reduced to a level of 3,400 people from over 48,000.
Canara Bank: Canara Bank will raise up to Rs 7,000 crore through various means, including rights issue and qualified institutional placement (QIPs).
HDFC Bank: Indian government on Wednesday approved the proposal of HDFC Bank to raise additional capital Rs 24,000 crore by selling equity to foreign investors to fund its business growth. Following the raising of this capital, FDI (Foreign Direct Investment) in HDFC Bank will hit the upper limit of 74% as fixed by the regulator from 72.62% as of now.
Dish TV: Legendary investor Rakesh Jhunjhunwala’s company Rare Enterprises on Wednesday bought 1.3 crore equity shares or 0.71% stake of Dish TV India for nearly Rs 93 crore.
SBI, Bank of Baroda, Bank of India, Canara Bank: The global rating agency Fitch on Wednesday downgraded the viability ratings (VRs) of State Bank of India (SBI) and Bank of Baroda (BoB), but affirmed their ‘BBB’ long-term issuer default ratings, along with that of Canara Bank and Bank of India (BoI).
ICICI Bank: ICICI Bank will offload 2% stake or nearly 2.87 crore equity shares in its insurance arm ICICI Prudential Life.
PNB: Punjab National Bank’s capital adequacy has fallen short of the regulatory requirement of Reserve Bank of India due to the humungous loss in the fourth quarter of 2017-18.