The BSE Sensex and NSE Nifty opened over 1 per cent up on Thursday following strong global cues.
Alex Mathews, head research, Geojit BNP Paribas Financial Services, said “Short covering is expected on Thursday due to August F&O expiry.”
Below are the stocks that are likely to be in focus today
Larsen & Toubro: The company on Wednesday announced that its power transmission and distribution business has bagged orders worth Rs 864 crore from Qatar General Electricity and Water Corporation ‘KAHRAMAA’.The company further said the order is ongoing Qatar Electricity Transmission network expansion plan – phase XII.
Cairn India: The company is set to expand its crude oil and natural gas carrying capacity by laying a new gas pipeline from its Barmer (Rajasthan) field with an investment outlay of Rs 1,400 crore. Moreover, crude oil output would be expanded from 200,000 bopd (barrels of oil per day) to 300,000 bopd and natural gas carrying capacity from 6.3 mmscfd (million standard cubic feet per day) to 40 mmscfd, they said.
Monnet Ispat: The company has agreed ‘in-principle’ to sell its stake in Orissa Sponge Iron & Steel to Bhushan Steel Ltd (BSL). Bhushan Steel had informed the BSE on Monday that it is in talks with Monnet Ispat and Energy to acquire the company’s stake in Orissa Sponge Iron and Steel.
Mahindra and Mahindra: The auto major plans to invest Rs 700 crore in commercial vehicle (CV) vertical as it aims to become a full range player in the segment in the next two years.
IOC: Moody’s Investors Service and Fitch Rating said on Wednesday that government’s 10 per cent stake sale in Indian Oil Corp (IOC) will not have any impact on the company’s ratings.
Vedanta: Anil Agarwal-owned Vedanta has decided to close down its one million tonne alumina refinery at Lanjigarh in Kalahandi district due to non-availability of bauxite ore and falling global metal prices.
Bharti Airtel: The company has acquired wireless broadband firm Augere’s India operations, a move that will help the firm to augment its 4G presence in the country.
Sun TV: The company on Wednesday said that it has partnered with HOOQ, Asia’s biggest premium video-on-demand service in a multi-year deal.