Infosys stocks will be in focus as it said that it will expand its operations in Ireland and intends to create 250 new jobs over the next three years in the country. (Express photo by Heena Khandelwal)
The BSE Sensex and NSE Nifty are expected to trade in negative for a fifth session on Tuesday following weak global cues. BSE Sensex tanked 108 points on Monday, registering fall for a fourth straight session even though global cues were largely positive on heightened expectations of a first rate hike in nearly a decade by the US Federal Reserve.
Below are stocks that are likely to remain in focus today:
Infosys: Stocks of the software major will be in focus as it said on Monday that it will expand its operations in Ireland and intends to create 250 new jobs over the next three years in the country.
RIL, Cairn India: Stocks of these companies will be in focus since US oil prices finished at their lowest level since February 2009 in New York trade on Monday as markets continue to reel from OPEC’s refusal last week to cut back production. The Organisation of the Petroleum Exporting Countries – which pumps about 40 per cent of the world’s crude oil – decided on Friday against cutting output to raise prices. The 13-member OPEC cartel took no action to shore up the market and observers said it appeared to be in disarray.
ONGC: ONGC Videsh Ltd-led consortium is close to winning $5 billion rights to develop Iran’s Farzad-B gas field and convert the gas produced from it into LNG for shipping to countries like India. Russia’s oil and gas major Rosneft is likely to join hands with India’s flagship explorer ONGC Videsh (OVL) for more upstream projects.
Ashok Leyland: The company has resumed regular operations at its Ennore manufacturing plant near Chennai after production activity was halted at the facility due to heavy rains.
ITC: The stocks of the cigarette maker will be in focus on Tuesday as well after a GST panel suggested 40 per cent tax rate for demerit goods like pan masala and tobacco. It has also acquired an 87.06 per cent equity share capital of group firm Classic Infrastructure & Development Ltd for Rs 11.38 crore.
Jamna Auto: Private equity firm Clearwater Capital Partners divested 16.5 per cent stake in auto component maker Jamna Auto Industries for about Rs 77 crore through open market transactions.
Adani Enterprises: With its $15 billion Carmichael coal mine stuck since 2010 for want of green nod, Adani group has requested the Australian government to draft a special law prohibiting green groups from seeking repeated judicial reviews of environmental approvals.
Motilal Oswal Financial Services: Sebi let off top broker Motilal Oswal Securities with a “strong warning” for executing trades of some debarred entities in Pyramid Saimira case and warned of stringent action for any future lapse. Passing an order, Sebi said that the brokerage firm has already been slapped with a monetary penalty of Rs 75,000 by BSE for the same lapses, while it has also taken “corrective steps” in this matter.
IDFC Bank: The bank has inked a pact with IT services major Tata Consultancy Services to use TCS BaNCS for its core banking solutions. IDFC Bank started operations on October 1 this year with 23 branches, powered by TCS BaNCS.
Reliance Communications: Reliance Communications’ deal to sell its tower business, when consummated, will substantially improve the telecom major’s financial profile, Moody’s Investors Service said on Monday. On December 4, the Anil Ambani-led firm had said it has signed a non-binding pact to sell its cellular towers to private equity firm Tillman Global Holdings LLC and TPG Asia Inc in an estimated Rs 30,000 crore deal to pare debt.
Aban Offshore: Aban Offshore has called a bondholders’ meeting on December 15 seeking an extension on the repayment of part of the outstanding on the bonds issued by its wholly-owned stepdown subsidiary Deep Drilling 1, according to a company statement.
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