Markets are likely to remain range-bound in trade today as they assess and interpret the outcome of assembly polls announced Tuesday. However, bank and NBFC stocks are likely to be in focus following the appointment of Shaktikanta Das as the new RBI governor.
At 08:31 am, the Nifty futures on the Singapore Stock Exchange (SGX) were trading 12 points or 0.11 per cent lower at 10,588, indicating a flat to negative opening for the market.
Here's a look at the top stocks that may remain in focus today -
Wipro: The company on Tuesday said it has set up an automotive innovation centre in Detroit, US that will help the IT major deepen its relationship with the Motor City's automotive community. The new centre adds to Wipro's existing footprint in Detroit.
Dr Reddy's: The drug major said it has launched Omeprazole delayed-release tablets, used to treat frequent heartburn, in the US market. Quoting IRI data, Dr Reddy's Laboratories said the combined market of Prilosec OTC and private label omeprazole OTC products had US retail sales of around $492 million for the most recent twelve months ending in October 2018.
Tata Sponge Iron: The Competition Commission has cleared Tata Sponge Iron's acquisition of steel business of Usha Martin for Rs 43-47 billion.
Reliance Industries: The board of Reliance Jio, a subsidiary of Reliance Industries Limited (RIL), on Tuesday approved a scheme to hive off the fibre and tower businesses into separate companies. Analysts feel this would provide a better leverage to raise funds with support from parent RIL, especially as the fibre business capex would be top loaded.
Zydus Wellness, Cadila: The Competition Commission Tuesday said it has approved Zydus-Cadila's deal to acquire Heinz India consumer wellness business that includes popular brands like Complan and Glucon D.
Indiabulls Ventures: Indiabulls Ventures promoter Sameer Gehlaut and five other promoter entities have settled a Sebi probe into the alleged violation of ‘takeover regulations’ after paying Rs 48 lakh towards settlement fee.