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Markets are likely to extend gains this morning, taking cues from global bourses. The Sensex, on Thursday added 1.2% to 19,411 while Nifty advanced 1% at 5,837.
Wall Street was closed on Thursday, on account of Indipendence Day.
At 800 hrs IST, the SGX Nifty traded up 39 points at 5875. In Asia, the Nikkei has opened in the green and is up 155 points or 1% at 14,185.
Deepak Fertilisers, which made a surprise entry into the Vijay Mallya-controlled UB Group’s Mangalore Chemicals & Fertilisers on Wednesday, might now approach Saroj Poddar to buy out his stake in MCF.
GMR might be in the limelight as it plans to raise Rs 550-cr by selling SEZ land. The decision is part of an overall move by GMR to exit some of its assets as part of 'asset light - asset right' strategy.
Watch out for Bajaj Auto as the company has seen 54% rise in 3-wheeler sales in June. The growth comes at a time when the domestic 3-wheeler passenger vehicle industry saw a decline of 3% in June, whereas Bajaj showed a growth of 3%.
JSW's auto-grade steel plant in Bellary will be commissioned by December. The company expects 2 billion dollar revenues from the unit once it reaches full capacity.
