Stocks to watch: Oil-related counters, AstraZeneca, Power Grid, GIC Re

At 08:45 AM, Nifty futures on the Singapore Exchange (SGX) were trading 46 points, or 0.41 per cent lower at 11,256, indicating a negative start for the Indian market on Wednesday. 

Here's a look at the stocks that may trade actively in today's session. 

Oil-related stocks: Shares of oil-marketing companies (OMCs), paint, aviation, and tyre companies may trade actively in today's session as the US crude Tuesday slipped nearly 8 per cent after Saudi Arabia cut its October selling prices and Covid-19 cases rebounded in many countries. 

AstraZeneca: Late-stage studies of AstraZeneca's COVID-19 vaccine candidate are on temporary hold while the company investigates whether a recipient's "potentially unexplained" illness is a side effect of the shot. READ MORE

Power Grid: The Cabinet Committee on Economic Affairs (CCEA) on Tuesday allowed state-owned power transmission company Power Grid Corporation of India (PGCIL) to monetise its assets by floating an Infrastructure Investment Trust (InvIT). This will make PGCIL the first such public sector utility in India to issue InvITs.

Earnings today: A total of 45 companies, including Indiabulls Ventures, and Eveready Industries are scheduled to announce their June quarter earnings today.

IRCTC: The government plans to sell about 15-20 per cent stake in IRCTC via offer for sale (OFS) and would like to complete the transaction in minimum number of tranches.

Indian Hume Pipe: The Company has received Letter of Award for the work of Rs 134.82 crore (excluding GST) from Rural Water Supply & Sanitation, Odisha, for the work of execution of Rural Piped Water Supply Projects. 

Texmaco Rail: The company's board said has approved issuance of equity shares of the company by way of preferntial issue to the promoters/promoter group to raise up to Rs 200 crore. 

Strides Pharma Science: Societe Generale has bought 6,26,279 shares at an average price of Rs 612.

Wipro: The IT services company Tuesday announced plans to set up a Digital Innovation Hub in Düsseldorf, Germany.

Motherson Sumi on Tuesday announced that its board had approved raising funds in the range of Rs 1,500 crore to Rs 3,000 crore through the issuance of NCDs on private placement basis.

GIC Re: India’s largest reinsurer, General Insurance Corporation (GIC Re), recorded a pre-tax loss of Rs 811.22 crore in the first quarter, compared to a pre-tax profit of Rs 138.90 crore in the corresponding period of the previous year. In the previous quarter, the reinsurer had reported a pre-tax profit of Rs 1,101 crore.

TeamLease: The company acquired an additional nearly 36.17 per cent stake in Schoolguru.