Stocks of both Tata Steel and Tata Motors will be in focus after the former company said that it is proposing to sell equity shares of face value of Rs 2 each of Tata Motors Limited to institutional investors over the stock exchange for a value not exceeding Rs 1,250 crore.

The BSE Sensex and NSE Nifty opened on a positive note on Friday tracking mixed global cues after US Federal Reserve kept the key interest rates unchanged. At 9.19 am, Sensex was up 233.58 points at 26,197.55. Similarly, Nifty was up 66.15 points 7,965.30 during the same time.

Below are the stocks that are likely to be in focus today

Tata Steel and Tata Motors: Stocks of both Tata Steel and Tata Motors will be in focus after the former company said that it is proposing to sell equity shares of face value of Rs 2 each of Tata Motors Limited to institutional investors over the stock exchange for a value not exceeding Rs 1,250 crore. The price will be discovered through a book building process.

PTC India Financial Services: The company on Thursday said that it has sanctioned loans of about Rs 1,000 crore (Rs 10 billion) for clean energy projects in the country.

Infosys: The stocks of IT major will be in limelight as it announced on Wednesday that Qantas Credit Union, a top Australian Credit Union, has chosen Infosys Finacle to improve its customer’s digital experience, as part of their business transformation strategy.

HCL Technologies: The software major said that it is collaborating with IBM to jointly develop Internet of Things (IoT) solutions to help customers on their IoT journey.

Essar Oil: Essar Oil will shutdown its 20 million tons Vadinar Refinery in Gujarat for 30 days for carrying out maintenance work from today.

Suzlon Energy: The company has approved the allotment of 3.53 crore equity shares worth Rs 54.58 crore to its bond holders.

Jindal Stainless Ltd: The company will temporarily shut down operations of the Ferro Alloys unit at Kothavalasa in Vizianagaram district, Andhra Pradesh and shift production of ferro chrome to more economical Jajpur facilities.

UltraTech Cement: The Aditya Birla Group flagship company has got Environment Ministry’s clearance to expand capacity at its Awarpur plant in Maharasthra, which would entail an investment of Rs 248 crore.

Amtek Auto: Standard & Poor’s has cut the long term credit rating of Amtek Global, reflecting the “heightened liquidity risks” at its parent company Amtek Auto that is facing financial troubles.

(Express Photo)

10.13 am: Sensex jumped 424 points at 26388. State Bank of India, ICICI Bank and Axis Bank were up over 3 per cent.

10.09 am: National Buildings Construction Corporation shares jumped as much as 2.50 per cent in the morning trade after the company said it is foraying into e-commerce business. The scrip was trading 2.24 per cent higher at Rs 940.50. Sensex was up 399.35 points at 26,363.32. Nifty was up 120 points at 8,019.25.

Meanwhile, Economic Affairs Secretary Shaktikanta Das on Friday said that US Fed decision to hold rates gives more room to emerging markets for policy adjustment.

9.48 am: Nifty was up 103 points at 8,002. Tata Motors was down over 2 per cent at Rs 330.35. Tata Steel before market hours today on Friday said that the company based on the review of its portfolio, is proposing to sell equity shares of face value of Rs 2 each of Tata Motors to institutional investors over the stock exchange for a value not exceeding Rs 1,250 crore. The price will be discovered through a book building process. Tata Steel also proposes to sell equity shares of face value of Rs 2 each of Tata Motors to Tata Sons around the market price through an off-market transaction for a total value not exceeding Rs 1,250 crore.

9.38 am: The rupee strengthened by 32 paise to 66.14 against the US dollar in early trade today at the Interbank Foreign Exchange after the American currency tumbled against major world currencies as the Federal Reserve decided again not to increase interest rates. Sensex was up 320 points at 26,284. Nifty was up 93 points at 7,992.

9.21 am: The BSE Midcap and Smallcap index were up 0.99 per cent and 0.88 per cent at 10,657 and 10,779. Sensex was up 321 points at 26,285. Meanwhile, Finance Minister Arun Jaitley said, inflation and deficit are under control and rupee has been more stable than other currencies.

9.19 am: Sensex was up 243 points at 26207 while Nifty was trading 66 points higher at 7965. Axis Bank and State Bank were trading over 2 per cent higher at Rs 507 and Rs 241 in the early trade.

Domestic equity markets opened on a positive note on Friday after the US Federal Reserve decision to leave interest rates unchanged. Sensex opened 166.39 points higher at 26,130.36.

Shares of banking and realty sector opened 1 per cent higher than their previous close. The BSE Bankex and BSE Realty index were up 1.36 per cent and 1.31 per cent at 19,699.70 and 1,312.

Domestic equity markets were closed on Thursday on account of Ganesh Chaturthi. On Wednesday, the BSE Sensex and NSE Nifty gained 1 per cent and 0.89 per cent at 25963.97 and 7899.15.

Global Markets

New York: Major Wall Street indices gave up a 1-per cent rally to end lower on Thursday after the Federal Reserve cited concerns about global economic growth in its decision to hold off on raising interest rates.

London: Britain’s share market on Thursday gave up some of its gains from the previous session, with engineering companies such as Smiths Group and Weir Group falling on concerns about peer Rotork’s outlook.

Tokyo: Japan’s Nikkei snapped a three-day winning streak on Friday after the US Federal Reserve kept interest rates unchanged on worries about the global economy, while investors refrained from taking large positions before long holidays in Japan.

Hong Kong: The Hang Seng index was up 0.31 per cent.

The Tata steel shares are being offered in an indicative range of 324.50 rupees to 338.05 rupees each, with the deal worth up to 12.5 billion Indian rupees, the terms showed. (Reuters)

Tata Steel Ltd will sell shares in automaker Tata Motors Ltd worth up to $188 million, according to a term sheet of the deal seen by Reuters on Friday.

The shares are being offered in an indicative range of 324.50 rupees to 338.05 rupees each, with the deal worth up to 12.5 billion Indian rupees, the terms showed.

The lowest price in the range represents a discount of up to 4 percent to their Sept. 16 close of 338.05 rupees.

Domestic equity markets were closed on Thursday on account of Ganesh Chaturthi. On Wednesday, the BSE Sensex and NSE Nifty gained 1 per cent and 0.89 per cent at 25963.97 and 7899.15.

The BSE Sensex and NSE Nifty are likely to open in green on Friday tracking SGX Nifty coupled with the US Federal Reserve decision to leave interest rates unchanged.

At 8.11 am, SGX Nifty was trading 35 points, or 0.44 per cent, up at 7,975.50.

Hang Seng and Shanghai were trading 0.40 per cent and 0.16 per cent up at 21,942 and 3091, respectively while Nikkei was down 1.30 per cent at 18,192.

Wall Street’s top banks now expect the US central bank to begin hiking rates in December, according to a Reuters poll conducted on Thursday.

Fed Chair Janet Yellen said the outlook abroad has appeared to become less certain, adding that recent falls in US stock prices and a rise in the value of the dollar already were tightening US financial market conditions. The Dow Jones Industrial Average closed 0.39 per cent down at 16,674.74.

Domestic equity markets were closed on Thursday on account of Ganesh Chaturthi. On Wednesday, the BSE Sensex and NSE Nifty gained 1 per cent and 0.89 per cent at 25963.97 and 7899.15.

For Friday’s opening session, Rohit Gadia, founder and chief executive officer, CapitalVia Global Research, said, “If markets open gap up on Friday then investors should wait for the market to settle down for at least one hour and start buying strong counters whose trend is up or it would be better to wait for first half and buy in latter half of trading session.”