Pre-Market: 5 stocks in limelight

Here are a few stocks that you need to keep a tab on today

The markets are likely to open in red tracking weak global cues. In addition, lack of big bang reforms in the Railway Budget which was presented yesterday dampened the sentiment of the investors.

 

Asian stocks fell on Wednesday after U.S. stocks skidded, while a drop in U.S. Treasury yields kept up pressure on the dollar.

 

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down about 0.2 percent in early trade, and Japan's Nikkei stock average .N225 dropped about 0.6 percent.

 

Furthermore, SGX Nifty is quoting at 7,621.50 lower by 0.14%

 

Stocks to watch

 

SpiceJet has decided to sell seats at discounts of up to 50% on select flights (with poor loads), two-three days before travel dates. Typically, airlines offer discounts on advance bookings and seats have to booked 30-60 days in advance.

 

ONGC Videsh Ltd (OVL), the foreign investment arm of Oil and Natural Gas Corporation Limited, has raised $2.23 billion from global markets through long-term bonds to refinance loans for acquiring a stake in an oil field in Mozambique.

 

PSU Banks are likely to remain in focus as fresh capital is infused in the banking space.

 

Piramal Fund Management, the real estate investment arm of the Ajay Piramal Group, has launched the Indiareit Apartment Fund which seeks to buy residential apartments in Tier I markets. The fund will buy apartments at a discount compared to the market place by offering bulk purchases to developers. It will raise funds from those investors who are looking towards investing in residential properties. 

 

Private life insurer IDBI Federal Life Insurance, which achieved break-even in the last financial year, and is now looking to expand its focus into newer channels like online, has launched a claims guarantee to better the service experience for policyholders.