Domestic equity markets are likely to open in red on Thursday following Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.
Here is a list of top stocks that are likely to be in focus today:
Bhushan SteelBSE 2.02 % and Electrosteel Steels: Banks led by State Bank of IndiaBSE 0.71 % will decide on Thursday the fate of three large defaulters -Essar Steel, Bhushan Steel and Electrosteel SteelsBSE 6.12 % -which constitute nearly half the loans of the top 12 defaulters identified by the Reserve Bank of India, thus marking a significant phase in the effort of lenders to clean up bad loans.
Petronet LNG: The country’s biggest importer of liquid gas is in talks to buy 25 per cent stake in Gujarat State Petroleum Corporation’s (GSPC) almost- complete Rs 4,500-crore Mundra LNG import terminal in Gujarat.
Reliance Communications: Anil Ambani-led Reliance Communications on Wednesday said it has started the process to monetise its real estate assets in Delhi and Mumbai as part of its efforts to pare debt. The company is burdened with Rs 45,000-crore debt. It has got a seven-month reprieve from banks to service the debt.
Larsen & Toubro: The government on Wednesday sold its 2.5 per cent stake in Larsen & Toubro (L&T) to state-run entities, including SBI and LIC, for about Rs 4,200 crore.
Federal Bank: South-based Federal Bank on June 21 launched an institutional sale of shares, aiming to raise around Rs 2,000 crore or $310 million in capital. There is an option to upsize the issue by Rs 500 crore or $77 million, sources said.
Axis Bank: Private sector Axis Bank has planned a capital raise of up to Rs 35,000 crore in about a year’s time in line with its growth projection in domestic as well as overseas operations.
Zee Entertainment: Global brokerage firm CLSA maintained ‘Buy’ on Zee EntertainmentBSE 0.87 % with a target price of Rs 625.
Pidilite: Credit Suisse maintained ‘Outperform’ on Pidilite with a target price of Rs 920. The global financial services firm prefers Pidilite due to its impregnable business moat.
Tata Motors: The auto major said that a meeting of the duly authorised committee held Wednesday, approved offering for subscription, on a private placement basis, up to 5,000 Rated, Listed, Unsecured, 7.50% coupon, redeemable, non-convertible debentures (NCDs) of face value Rs 10 lakh each, at par, aggregating up to Rs 500 crore.
HUL: Shares of Hindustan UnileverBSE -1.59 % turn ex-dividend on Thursday for final dividend of Rs 10 per share for the year ended March 31, 2017.
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