The Indian headline indices – Sensex and Nifty are likely to open flat to negative tracking mixed Asian markets amid fears of a global slowdown and recession in the world’s biggest economy U.S. after the US yield curve inverted last week for the first time since 2007. SGX Nifty Fifty was last seen trading at 11,505.50, 18.50 points down from the previous close. While the Sensex closed at 38,233.41, 424.54 points higher than the previous close, Nifty also ended up around 11,500 points, on Tuesday. We take a look at stocks which will be in focus today.
GMR Infrastructure: GMR will announce divestment of up to 40% in all airports – Delhi, Hyderabad, Goa and Philippines, tomorrow and GIC-Tata consortium will buy that stake for Rs 8,000 Crores, as per reports.
ICICI Prudential Life Insurance: ICICI Prudential’s OFS received a demand of 6.29 times from its base issue at an indicative price of Rs 316.11 per share, according to the exchanges. The insurance company has also pared its stake in Jyothy Labs to 3.01 per cent from 5.03 per cent.
Mindtree: Mid-sized software services company Mindtree has decided to not proceed with share buy-back and evaluate the option of the open offer. It will also constitute a panel on L&T’s unsolicited offer. Apurva Purohit will lead this panel of independent directors.
Allahabad Bank: State-run Allahabad Bank board approved raising equity up to Rs 4,000 crores provided the stake of the government remained not less than 52 per cent of the total equity paid up capital of the bank.
Jet Airways: Cash-strapped Jet Airways to operate 40 more planes by April. The airline’s Chief Executive Officer Vinay Dube, Deputy Chief Executive Amit Agarwal and State Bank of India (SBI) Chairman Rajnish Kumar, met Civil Aviation Secretary Pradeep Singh Kharola on Tuesday and apprised him of the developments at Jet Airways, as per reports.
Unitech: Realty firm Unitech said Tuesday in an exchange filing that it has entered into a share purchase agreement with Sterling and Wilson to sell entire equity capital of Unitech Power Transmission.