The domestic benchmark indices are likely to take cues from global peers and oil markets on Wednesday. Asian stocks fell weighed by a renewed bout of selling on Wall Street, and crude oil struggled after a sharp slide as economic growth concerns gripped global markets, said a Reuters report.
Back home, the S&P BSE Sensex on Tuesday slumped 300 points or 0.84 per cent to settle at 35,475 while the broader Nifty50 index of National Stock Exchange (NSE) ended at 10,656, down 107 points or 1 per cent.
Here are the top stocks that may remain on investors'radar in Wednesday's session -
Dr Reddy's: A US appeals court on Tuesday allowed generic drug company Dr Reddy's Laboratories to sell a copycat version of the Indivior Plc opioid treatment Suboxone Film, sending Indivior's stock price down more than 40 per cent, said a Reuters report.
Earnings to watch out for
DHFL is likely to release its September quarter earnings later in the day today. That apart, Essar India and Indian Infotech are also slated to announce their September quarter results during the day.
IL&FS Engineering: It has filed an application to Sebi requesting an extension of time to file financial results. That apart, infrastructure major Larsen & Toubro has filed an insolvency petition against IL&FS Engineering and Construction to recover its dues, according to a court document reviewed by Cogencis.
Bank of Baroda: The state-run lender agreed to sell 4 per cent stake in Clearing Corporation of India to HDFC Bank at Rs 620 per share, with consideration aggregating to Rs 124 crore. Post the acquisition, HDFC Bank will increase its stake in CCIL from 5 percent to 9 per cent.
Indiabulls Housing Finance: The company has raised Rs 236.15 billion through various debt instruments from 32 financial institutions. The fund raising is in line with the company's objectives of maintaining high liquidity and sustainable growth, it said.
Suzlon Energy: The renewable energy solution provider Tuesday said it has completed sale of its arm Amun and Avighna to Canadian Solar for a total consideration of Rs 545 million. According to the statement as first part of the transaction, Canadian Solar acquired 49 per cent stake in Amun and Avighna, respectively, for a combined cash consideration of Rs 264 million.
NTPC: The state-run power major on Tuesday said it has signed pacts with online cab aggregators Ola, Lithium, Shuttl, Bikxie, Bounce, Electrie and Zoom Car for creation of public charging infrastructure for electric vehicles (EVs). Also, news repprts say the company is considering buying distressed power plants and is currently doing internal assessment of Rattan India’s Nasik and Amravati and JP’s Nigri power plant.
Minda Corporation: The auto ancillary maker has announced it will reduce stake in its joint venture (JV) with Furukawa Group of Japan (Furukawa). The JV, called Minda Furukawa Electric (MFEPL) is currently owned 51 per cent by MCorp and 49 per cent by Furukawa.
Oberoi Realty: As per media reports, Oberoi Realty is in talks to buy Blue Star's nine-acre Thane land parcel. The deal value could be somewhere in the range of Rs 120-150 crore, given the benchmark rates of recent transactions in the vincinity. The land parcel is located adjacent to the 60 acre GlaxoSmithKline Pharma land parcel that Oberoi acquired last year for Rs 5.5 billion.
Aviation, paint and OMC stocks: Shares of aviation, paint and oil marketing companies are likely to remain in focus as oil prices on Wednesday clawed back some of the previous day’s more than 6 per cent plunge, lifted by a report of an unexpected decline in US commercial crude inventories as well as record Indian crude imports.