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Here are a few stocks that are likely to be in focus today:
Rate sensitive shares will be in focus ahead of the RBI Monetary policy review due today.
Reliance Industries and Pioneer Natural Resources have entered into an agreement with North America-based Enterprise Products Partners to sell their stakes in Eagle Ford Shale (EFS) Midstream for $2.15 billion.
Lupin and Cipla are among companies that bid for UCB SA's US generic-drug business.
Automobile parts maker Amtek Auto has completed acquisition of the iron & aluminium casting, forging and machining business of Japanese company Asahi Tec Corporation.
Oil and Natural Gas Corporation (ONGC) will explore four of its coal bed methane blocks on its own.
IDBI Bank has eased restrictions on corporate lending, following an improvement in the lender’s performance on priority sector lending in 2014-15.
TVS Motor Company has posted a growth fo 6.4% in sales during the month of May, 2015, selling around 2,20,079 units as compared to 2,06,813 units during May, last year.
Aurobindo Pharma has received final approvals from the US FDA to manufacture and market anti-infective Metronidazole tablets of 250 mg and 500 mg dosages.
MARKET COMMENTARY
Markets are likely to open flat with investors maintaining cautious stance ahead of the RBI Monetary policy review due today.
The RBI is scheduled to announce the outcome of its second bi-monthly monetary policy review for the year 2015-16 at 11:00 AM today.
On the macro-economic front, output in the eight key infrastructure industries declined in April for a second month in a row, by 0.4% this time, posing a question over the recovery in manufacturing shown by the official gross domestic product (GDP) data.
The market participants would also keep an eye on the progress of the monsoons. The southwest monsoon, the lifeline of millions of farmers is now expected to hit the Kerala coast only around June 5, almost four days behind the usual onset on June 1.
Further, foreign portfolio investors bought shares worth a net Rs 113.47 crore yesterday, as per provisional data.
GLOBAL MARKETS
US stocks began the month with modest gains after the data. Consumer spending remained flat in April, but construction spending and manufacturing gained momentum, backing the view that the U.S. central bank is on track to begin to hike rates later this year.
The dollar tested a 12-1/2-year peak against the yen on Tuesday after a spate of mostly upbeat US data reinforced expectations that the Federal Reserve would raise interest rates this year, while Asian shares were little changed.
MSCI's broadest index of Asia-Pacific shares outside Japan was down in early trade, while Japan's Nikkei stock index edged up about 0.1%.
With Reuters input
