Shares of Fortis Healthcare, PNB, BoB, Jain Irrigation, Federal Bank, Siemens, Gitanjali Gems in focus today

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Published: February 23, 2018 9:03:45 AM

Indian stock markets are likely to open higher on Friday following a recovery in the major indices of United States with Dow Industrials rising over 150 points.

The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, up 0.13% at 10,398.5 on Singapore Exchange. (Image: Wikimedia Commons)

Indian stock markets are likely to open higher on Friday following a recovery in the major indices of United States with Dow Industrials rising over 150 points. The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed, up 0.13% at 10,398.5 on Singapore Exchange. Shares of the fraud-hit PNB will continue to be in a close watch as the probe is unfolding and investing deeper day after day. The stock of Punjab National Bank inched down 2% on Thursday at the close while the jewellery maker Gitanjali Gems which was also named by the investigative agencies continued to decline on the bourses taking the six-day fall to 55%.

These stocks will be in focus today

PNB: PNB said it has enough assets to meet any liability. “We have followed lawful avenues available to us as per law of the land to recover our dues,” the bank said in an exchange filing.

Bank of Baroda: Public sector Bank of Baroda clarified it has no exposure against Letters of Undertaking (LoUs) issued by PNB for some of its gems and jewellery sector clients in news and said all such authorisations are “duly controlled”.

Fortis Healthcare: NSE has said derivative trading in Fortis Healthcare would be stopped if the company fails to submit its financial results for last two quarters by 1 March. Fortis Healthcare has failed to meet the deadlines for submission of its financial results for the September and December quarters of the FY18.

Jain Irrigation: Jain Irrigation Systems said it has received a contract worth Rs 375 crore contract from the Pune Municipal Corporation (PMC).

Federal Bank: Private sector lender Federal Bank made its foray into investment banking by acquiring a minority 26% stake in Equirus Capital, a boutique investment bank.

The Indian rupee on Thursday: The rupee ended 28 paise lower to a three-month low of 65.04 against the US dollar.

Indian stock markets on Thursday

India’s stock markets closed almost flat with Sensex and Nifty settling in marginally lower as a profit-booking was seen in the shares of Reliance Industries, Maruti Suzuki and HDFC Bank. A market-wide sell-off was seen across the indices with decreased volatility. The S&P BSE Sensex lost 25.36 points or 0.07% to end the day at 33,819.5 and NSE Nifty settled 14.75 points or 0.14% lower at 10,382.7. The Nifty Next 50 index witnessed a major drag led by a slump in shares of Siemens, Colgate-Palmolive (India), Cummins India, Bharat Electronics, Tata Power, Torrent Pharma, PNB, Idea Cellular, Bank of Baroda, Motherson Sumi Systems, BHEL, LIC Housing Finance, Titan, DLF and SAIL.

US stock markets on Thursday

The Dow and S&P 500 advanced on Thursday to halt a two-session losing skid, buoyed by gains in industrial and energy shares as US Treasury yields eased, while the Nasdaq lost ground for a third straight session, Reuters said in a report. The Dow Jones Industrial Average rose 164.7 points or 0.66% to 24,962.48, the S&P 500 gained 2.63 points or 0.10% to 2,703.96 and the Nasdaq Composite dropped 8.14 points or 0.11% to 7,210.09.

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