Telecom stocks in spotlight after Govt clears 100% FDI

Telecom stocks may advance after the Congress-led United Progressive Alliance (UPA) has, with a few caveats, allowed 100% foreign direct investment (FDI) in telecom. FDI in the telecom services sector was increased from 74% to 100%, but all investments above 49% will continue to be routed through the Foreign Investment Promotion Board (FIPB).

HDFC Bank will be watched ahead of its Q1 June 2013 results today, 17 July 2013.

Development Credit Bank's net profit surged 126.5% to Rs 42.83 crore on 26.9% jump in operating income to Rs 305.84 crore in Q1 June 2013 over Q1 June 2012.

JSW Steel after trading hours on Tuesday, 16 July 2013, said that as a policy the company does not respond to speculative stories and market rumours after media reports said that JSW Steel is in talks to purchase a significant stake in Sandur Manganese and Iron Ores to improve its access to iron ore and cut logistics costs. Earlier, Sandur Manganese during trading hours on Tuesday, 16 July 2013, had denied stake sale reports. Neither Sandur Manganese nor its promoters have appointed any investment bankers to scout for a buyer, Sandur Manganese had said.

Equity shares of Pantaloons Fashion & Retail will list on the stock exchanges today, 17 July 2013. The stock will trade in the list of 'T' group securities on BSE. Future Retail, formerly known as Pantaloon Retail, and Future Ventures India demerged their fashion businesses into Future Lifestyle Fashions, which will have a portfolio of over two dozen fashion and lifestyle brands.

Torrent Pharmaceuticals after trading hours on Tuesday, 16 July 2013, said it has fixed 24 July 2013 record date for 1:1 bonus share issue.

UltraTech Cement turns ex-dividend today, 17 July 2013, for dividend of Rs 9 per share for the year ended 31 March 2013 (FY 2013).

Berger Paints India turns ex-dividend today, 17 July 2013, for dividend of Rs 1.80 per share for the year ended 31 March 2013 (FY 2013).

Shriram City Union Finance turns ex-dividend today, 17 July 2013, for final dividend of Rs 6 per share for the year ended 31 March 2013 (FY 2013).

Tata Communications turns ex-dividend today, 17 July 2013, for dividend of Rs 3 per share for the year ended 31 March 2013 (FY 2013).

WABCO India turns ex-dividend today, 17 July 2013, for dividend of Rs 5 per share for the year ended 31 March 2013 (FY 2013).

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