Shares of PNB, ICICI Bank, Tata Motors, Vedanta, Airtel, Maruti, Tata Power, IOC, Tata Steel in focus today

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Updated: April 2, 2018 9:04:54 AM

Indian stock markets are likely to open marginally lower on Monday despite a higher closing of major US indices on Wall Street with Dow Industrials rising over 250 points as most of the Asian peers ticked up a little higher in the early deals today.

The early indicator of NSE Nifty, SGX Nifty Futures was trading slightly changed, down 0.24% at 10,217.5 on Singapore Exchange on Monday. (Image: Wikimedia Commons)

Indian stock markets are likely to open marginally lower on Monday despite a higher closing of major US indices on Wall Street with Dow Industrials rising over 250 points as most of the Asian peers ticked up a little higher in the early deals today. The early indicator of NSE Nifty, SGX Nifty Futures was trading slightly changed, down 0.24% at 10,217.5 on Singapore Exchange on Monday.

These stocks will be in focus today

Tata Steel: Tata Steel posted a rise of 11% as it achieved highest-ever annual sales of 12.13 million tonnes in the financial year 2017-2018.

Vedanta: Vedanta has won the bid to acquire bankrupt Electrosteel Steels Ltd in an insolvency auction.

Eicher Motors: Royal Enfield, the two-wheeler division of Eicher Motors, reported a 27% jump in total sales to 76,087 units in March.

Allahabad Bank: Allahabad Bank has reduced the base rate and benchmark prime lending rate by 45 basis points each.

Tata Motors: Tata Motors reported a rise of 35% in total sales to 69,440 units in March.

Canara Bank: Canara Bank has called off move to divest its entire shareholding in housing finance subsidiary Canfin Homes after receiving lower than expected price quotation.

IOC: IOC is planning to invest about Rs 1.43 lakh crore to nearly double its oil refining capacity to 150 million tonnes and boost petrochemical production by 2030.

Hero MotoCorp: Hero MotoCorp has crossed the 75 lakh units sales mark in 2017-18 fiscal, becoming the first ever entity to achieve such a feat globally, PTI reported citing an unidentified company official.

Maruti SuzukiMaruti Suzuki reported a 14.9% increase in total sales at 1,60,598 units in March as against 1,39,763 units in the year-ago month.

Bharti Airtel: Bharti Airtel will now show movies and other programmes of ALTBalaji on TV app, following a strategic partnership signed by the two firms.

Punjab National Bank: Punjab National Bank has decided to honour LoUs worth Rs 6,500 crore, issued fraudulently to 7 lenders in favour of Nirav Modi and associates in connivance with bank officials.

ICICI Bank: Under the scanner of investigative agency Central Bureau of Investigation for the so-called matter between Videocon Group and ICICI Bank’s CEO Chanda Kochhar’s husband Deepak Kochhar, Chairman Venugopal Dhoot has said he knew all the 12 members of the panel that had cleared the loan amount and asserted that personal ties between two people do not always result in criminal acts. Further, the capital market regulator, Securities and Exchange Board of India has started looking into the matter for any possible disclosure and corporate governance-related lapses.

IFCI: IFCI proposes to further offload its stake in National Stock Exchange as part of its exercise to raise funds to fuel its operations, PTI reported citing an unidentified company official.

Ashoka Buildcon: Ashoka Buildcon has won a Rs 1,687 crore project from the National Highways Authority of India (NHAI) for a section of the Vadodara-Mumbai expressway in Gujarat.

Tata Power: Tata Power has given nod for sale of its defence business to Tata Advance Systems for Rs 2,230 crore.

Indian stock markets closed in negative territory on Wednesday thrashing the two-day straight surge with Sensex slipping below 33,000-mark and Nifty closing near 10,100 level as regional markets hovered in deep red following the pessimism over US-China trade war. The S&P BSE Sensex shed 205.71 points or 0.62% to close at 32,968.68 whereas NSE Nifty lost 62.85 points or 0.62% to settle at 10,121.3 on Wednesday. A slump in heavyweight shares of companies such as Reliance Industries, Infosys, ICICI Bank, ITC, Bharti Airtel, State Bank of India and Tata Steel weighed on the key equity indices.

Wall Street surged on Thursday, bringing an upbeat end to a tumultuous, holiday-shortened week as technology stocks rebounded, but the S&P 500 and the Dow Jones Industrial Average posted their biggest quarterly declines in more than two years, Reuters said in a report. The Dow Jones Industrial Average rose 254.69 points, or 1.07 percent, to close at 24,103.11, the S&P 500 gained 35.87 points, or 1.38 percent, to 2,640.87 and the Nasdaq Composite added 114.22 points, or 1.64 percent, to 7,063.45.

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