Domestic equity markets are likely to open in red on Wednesday 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:
Glaxosmithkline Pharmaceuticals: Global brokerage house Nomura cut the target of Glaxosmithkline Pharmaceuticals to Rs 2056 from Rs 2554 earlier.
MothersonBSE 0.15 % Sumi: HSBC raised target price of Motherson SumiBSE 0.15 % to Rs 500 from Rs 480 earlier.
Pharma stocks: Drug price regulator NPPA on Tuesday announced provisional ceiling prices of 761 medicines, including anti-cancer, HIV, diabetes and antibiotic, with a majority being reduced ahead of the GST implementation. The National Pharmaceutical Pricing Authority (NPPA) said however that the actual increase or decrease in prices after the rollout of new indirect tax regime is expected to be in be in the range of 2-3 per cent depending on states.
Federal Bank: Private lender Federal Bank on Tuesday raised Rs 2,500 crore through qualified institutional placement (QIP) route to fund its expansion plan.
Indiabulls Real Estate: The company has given exit to ILFS Fund from its housing project in Mumbai by acquiring 10 per cent stake for Rs 358 crore.
SBI: The nation’s largest lender State Bank of IndiaBSE -1.25 % (SBI) on Tuesday ruled out the additional provisioning towards the 12 largest NPA accounts which have been referred to insolvency proceedings denting the bottomlines very hard as most of the provisioning has already been done. “The increased provisioning requirements, more or less, in all of these accounts we have pretty large provisions. But yes, we have to make a little more but it should not very badly impact our earnings going forward,” chairman Arundhati Bhattacharya told reporters after the AGM.
Mindtree: Mid-tier IT firm Mindtree will consider the proposal of share buyback on Wednesday.
Omax Autos: The company on Tuesday announced that it has closed manufacturing activities in its unit named Automax (A unit of Omax Autos Limited) situated at Delhi-Jaipur Highway, wef June 24, June 2017.
OnMobile Global: The company has secured a 3-year deal with Banglalink, one of the leading digital communications services providers of Bangladesh to provide Ringback Tones & Reverse Ringback Tones to its customers.
Fortis Healthcare: Fortis’ diagnostic arm SRL is likely to list on bourses by August.
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