Dabur India shares will be in focus after reports said that US FDA has issued import alert to company’s Alwar Unit. (Express Photo)
The BSE Sensex was trading over 300 points down at 25,720 in early trade on Wednesday, while NSE Nifty was trading down 81 points at 7,799. At 9.59 am, Sensex was down 130.09 points at 25,902.29. Similarly, Nifty was down 24.90 points at 7,855.80 during the same time.
Below are the stocks that are likely to be in focus
Banking stocks: Bank stocks of SBI, IOB, UBI will be in focus today after government may infuse funds into these banks. SBI said it will issue equity shares on preferential basis to the government for capital infusion of Rs 5,393 crore.
IOC: State-owned Indian Oil Corp (IOC) has signed an agreement with Nepal Oil Corp (NOC) to lay a Rs 275-crore oil pipeline from Raxaul in Bihar to Amlekhgunj in Nepal.
Jindal Steel and Power Ltd (JSPL): Jindal Steel and Power Ltd (JSPL) will seek shareholders’ nod for raising up to Rs 15,000 crore via securities for loan refinancing and capital expenditure.
Dabur India: Dabur India shares will be in focus after reports said that US FDA has issued import alert to company’s Alwar Unit. Dabur India on Tuesday said that USFDA had not put any restriction on import and sale in the US, of products manufactured at its Alwar unit.
Tata Motors: Tata Motors stocks may react to China interest rates cuts move and reserve requirements as it is expected to boost sales of unit Jaguar Land Rover.
The stock is now down over 2 percent on reports that a foreign investment firm has sold substantial holdings in the bank.
The stock surged over 4.5 percent in opening trades.
The broader market, too, started in red, the CNX Midcap and Smallcap indices have shed 1.6-2 percent each at 12,582 and 4,908, respectively.There are no gainers in sectoral indices, the CNX PSU Bank index has slipped 2 percent at 3,169. The Realty, Auto, Pharma and IT indices have dropped 1.5 per cent each.