Nifty futures on the Singapore Exchange were trading 9 points, or 0.08 per cent, lower at 11,306, indicating a flat-to-negative start for the Nifty50. Here's a look at the top stocks that may hog the limelight in today's session:
MCX: Commodity exchange MCX could rally as much as 5 per cent after Sebi, at its board meet, approved the framework for allowing eligible foreign entities to hedge on Indian commodity bourses. EFEs have been defined as persons non-resident in India but having underlying commodity exposure to India in the form of commodity import or export.
PNB Housing Finance: Private equity fund Blackstone is the sole bidder to express an all-cash deal interest to buy out PNB Housing Finance, two sources with direct knowledge of the development said. The company is likely to shortlist seven investors in the first round by this weekend.
Sun Pharma: Partner Spanish drug maker Almirall, has received the approval from European drug regulators for its psoriasis drug Tildrakizumab (brand name Ilumetri in Europe). Tildra branded as Ilumia in the US is a biologic drug administered subcutaneously and is used to treat moderate-to-severe psoriasis.
Strides Pharma Science: The drug firm said the US health regulator has issued three observations after inspecting its formulations facility in Bengaluru. The company believes that the observations are not material in nature and have already responded to the USFDA, it added.
RCom: Chairman Anil Ambani said the telecom sector may eventually become a monopoly, having been “creatively destroyed,” and thanked elder brother Mukesh for his “support and guidance” in challenging times. Ambani said his group was clear about its role in the Rafale jet deal and is going ahead as scheduled, despite controversies.
HDFC: Daiichi Sankyo has objected to HDFC’s insolvency case against the holding company of former Fortis promoters Malvinder and Shivinder Singh, stating it would affect the Japanese drug maker's enforcement of a Rs 3,500 crore arbitration award against the brothers.
Vijaya, Dena Bank and BoB: Bank unions have opposed the government's decision to merge Bank of Baroda, Vijaya Bank and Dena Bank, alleging that the move is just a diversion from the main issue of NPAs and their recovery from big corporates.
IDBI Bank: Markets watchdog Sebi said LIC has not sought any exemption from the open offer requirement to take over the crippled state-run lender IDBI Bank for around Rs 11,000 crore.
ICICI Bank: Markets watchdog Sebi Tuesday said, ICICI Bank and Chanda Kochhar have replied to its show-cause notices on the probe into the alleged regulatory lapses by the bank's CEO-on-indefinite-leave in lending to Videocon group and her husband's business deals with th ..
Tata Sponge: Centrum Broking has upgraded its rating on Tata Sponge to buy and revised target price to Rs 1,220 from Rs 1,135. The brokerage stated that it expected the company to maintain strong operational performance through better pricing, higher volumes and tight control on conversion costs.
HPCL: Hindustan Petroleum Corporation Ltd (HPCL) Tuesday forayed into the packaged drinking water sector with the launch of REMINERO, a product in partnership with city-based Indian Institute of Chemical Technology.
Tata Steel: The company said it has completed the acquisition of 51 per cent equity stake in Creative Port Development Pvt Ltd (CPDPL). "The company has today concluded the acquisition of 51 per cent equity stake in CPDPL," Tata Steel said in a BSE filing.
Vakrangee got an order from the Ministry of Corporate Affairs for inspection of books of accounts for three financial years.
