Weak global cues and Nifty futures on the Singapore Stock Exchahnge (SGX) indicate a tepid start for the domestic equity market on Friday. At 08:30 am, the Nifty futures on SGX traded 54 points or 0.50 per cent lower at 10,772.
Here's a look at the top stocks that may remain in focus in today's session -
IOC: Indian Oil Corp (IOC) on Thursday said its board had approved the buyback of 3.06 per cent of equity shares for Rs 44.35 billion. The board of country’s largest oil firm approved the buyback of up to 297.6 million equity shares, or 3.06 per cent, at Rs 149 per share, it said in a regulatory filing.
HUL: According to news reports, global financial services company JPMorgan has downgraded the company to neutral from overweight with the target price of Rs 1,910.
HCL Tech: According to reports, JPMorgan has downgraded HCL Tech to neutral with the target price of Rs 1,035.
Motherson Sumi: The auto components maker Motherson Sumi is in early-stage talks with German peer Leoni over a possible combination of the two companies, Reuters reported citing sources. The car industry and its suppliers, facing a regulatory crackdown on diesel emissions and a slump in China, have issued a slew of profit warnings in recent months and companies are shaking up their businesses in order to adapt.
Adani Enterprises: Adani Defence Systems, a wholly-owned arm of Adani Enterprises, has acquired Alpha Design Technologies (ADTL) for Rs 400 crore, according to regulatory filing.
Bharti Airtel, Vodafone India: The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) on Thursday quashed provisions related to predatory pricing and discounted tariffs from an order that the Telecom Regulatory Authority of India (Trai) had issued in February this year.
Dilip Buildcon: CARE Ratings has revised the long-term loan rating to A from A+.