Wockhardt stocks will be in focus as its Chikalthana plant at Aurangabad in Maharashtra has received a good manufacturing practice (GMP) certificate from the UK health regulator after an inspection. (Photo: PTI)
The BSE Sensex and NSE Nifty are expected to open on a flat note on Wednesday tracking global cues. On Tuesday, Sensex closed 23.74 points up at 26,169.41, while Nifty closed 19.65 points up at 7954.90.
Below are the stocks that are likely to be in focus today:
Jyoti Structures: Lenders to the loss-making company have decided to convert Rs 307.6 crore of loans into shares at a value of Rs 26.90 apiece, a premium to the current market price, sources told FE. The move is part of a strategic debt restructuring (SDR), a scheme outlined by the Reserve Bank of India (RBI) earlier this year. The stock closed at Rs 17.70 on Tuesday on the BSE, down 6.84% from its previous close.
Wockhardt: In a major relief to drug firm Wockhardt, its Chikalthana plant at Aurangabad in Maharashtra has received a good manufacturing practice (GMP) certificate from the UK health regulator after an inspection.
Tata Motors: Tata Motors on Tuesday reported 6.71 per cent decline in sales at 38,918 units in November compared to 41,720 vehicles in the same month last year. Domestic sales of Tata Motors’ commercial and passenger
vehicles declined by 6 per cent at 35,345 units during the month as against 37,427 units sold in November, 2014.
Banking stocks: Bankers hint at lowering rates after Rajan’s push: Feeling the RBI heat for not passing on benefits of rate cuts fully to borrowers, bankers on Tuesday promised that borrowers can look forward to lower rates even as Governor Raghuram Rajan decided to keep rates on hold on Tuesday. “As the impact of monetary policy measures taken so far plays out in terms of bank funding costs, lending rates are expected to continue to moderate,” Chanda Kochhar, MD and chief executive of ICICI Bank, said in a statement.
TVS Motor: TVS Motor Company on Tuesday reported 2.43 per cent increase in total sales at 2,25,401 units in November. The Chennai-based company had sold 2,20,046 units in the same month last year. Total two-wheeler sales for the month grew 3.18 per cent to 2,17,706 units as against 2,10,979 units in November 2014, TVS Motor Company said in a statement.
Cox & Kings: UK Group Travel company Cox & Kings Group on Tuesday said it has sold 100 per cent shares of Explore Worldwide to Hotelplan UK Group for 25.8 million pounds. Cox & King sold 100 per cent of the issued and outstanding shares of Explore Worldwide through its Holidaybreak Plc subsidiary, the company said in a release.
Hero MotoCorp: Country’s largest two-wheeler maker Hero MotoCorp on Tuesday reported a marginal increase in sales at 5,50,731 units in November. The company had sold 5,47,413 units in the same month last year, Hero MotoCorp said in a statement.
TV Today Network Ltd: Reserve Bank has allowed foreign investors to invest up to 26 per cent in TV on Tuesday Network Ltd. “Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 26 per cent of the paid up capital of TV on Tuesday Network Ltd under the Portfolio Investment Scheme (PIS),” RBI said in a notification. As per data available on BSE, foreign investors held 0.02 per cent in TV on Tuesday Network as on September 30.
Coal India: State-owned Coal India’s production stood at 47.47 million tonnes in November, down by 4.42 per cent from the targeted output level for the month. In a regulatory filing, CIL said the actual coal production was 47.47 million tonnes in November this year, while the offtake was 45.33 million tonnes in the same month.
JSW Steel: Disappointed over a US court decision against its subsidiary, JSW Steel USA, Sajjan Jindal-led JSW Steel on Tuesday said it will defend its position under applicable laws.
HDFC: HDFC Ltd has invoked 1.5 lakh shares of United Spirits Ltd (USL) pledged by Vijay Mallya-led investment arm Kingfisher Finvest India Ltd. HDFC invoked the shares amounting to 0.10 per cent stake in USL on November 23, 2015, United Spirits Ltd (USL) said in a BSE filing.
ONGC and Reliance Industries: Stocks of theboth the companies will be in focus as US-based consultant D&M has submitted its final report on the gas dispute between ONGC and Reliance Industries, establishing that natural gas worth over Rs 11,000 crore has migrated from idling KG fields of the state-owned firm to the adjoining KG-D6 block.
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