At 08:20 am, Nifty futures on the Singapore Exchange (SGX) were trading 45.5 points or 0.39 per cent lower at 11,586.5-mark, indicating a weak start for the Indian market on Wednesday.
Here's a look at the top stocks that may remain in focus today -
Titan: HSBC upgrades the company to 'buy' with a target price of Rs 1,450/share.
SpiceJet: The airline is weighing an order for at least 100 Airbus planes as Boeing Co. grapples with the fallout over its grounded 737 Max, Bloomberg reported. The low cost carrier (LCC), a major global customer of Max fleet by Boeing, may buy a "sizeable" number of A321LR and XLR jets to aaccommodate fleet expansion.
DHFL: Dewan Housing Finance Corporation Ltd will meet lenders to discuss a draft resolution plan to alleviate the financial stress that the company is currently facing. It is understood that banks may take another month or so to approve the resolution plan. Zee Entertainment Enterprises (ZEEL): Essel Group and lenders agree on timeline extension for debt payment, reports CNBC TV18.
RPP Infra Projects: The company, along with its JV partner, has won an order for the construction of a two—Iane road from Kaletwa to the India — Myanmar border in the Chin state of Myanmar. This new project is worth Rs 414 crore.
DLF: Gurgaon-based luxury malls developer, DLF is planning to focus more on food and beverages and allocate around 20 per cent of space to the dining options across its project offerings, DLF Shopping Malls Executive Director and Head Pushpa Bector told news agency PTI. DLF, which has malls across Delhi, Noida, Gurgaon and Chandigarh, has been allotting nearly 12 per cent of the total space to F&B.
Morepen Laboratories: SEBI has prohibited the company from accessing the capital market and restrained it from dealing in securities in the securities including units of mutual funds for a period of one year, the company said in a regulatory filing.
Order to come in force from immediate effect.
Kaveri Seed Company: The Board, at its meeting held yesterday, considered and approved the proposal for buyback of fully paid up equity shares of face value of Rs 2 each, not exceeding 28 lakh shares (representing 4.44 per cent of the total number of equily shares) for an aggregate amount not exceeding Rs 1.96 crore, the company said in a BSE filing after market hours. READ HERE
Indiabulls Housing Finance: CARE has revised the long-term rating from “CARE AAA” to “CARE AA+”, Perpetual Debt Programme from “CARE AA+” to “CARE AA”, and reaffirmed short-term rating at “CARE A1+”
Bajaj Electricals: The manufacturer of electric fans and lighting items, may hit the market for a qualified institutional placement (QIP), according to a Business Standard report. The company has appointed investment bankers Edelweiss and IIFL to handle the offering, which may be in the range of Rs 400-600 crore, said people in the know. The proceeds will be used to pare debt. READ HERE
JSW Steel-- Harsco signed three multi-year addon contracts for 10-15 years with company for a total value of $75 million, according to a Bloomberg report. Besides, the board has approved raising up to $400 million via unsecured notes. READ MORE
Reliance Communications-- Global Cloud Xchange announced that Bill Barney, CEO of Reliance Communications and Chairman & CEO of Global Cloud Xchange has resigned his RCom role to focus full time at the helm of GCX during its corporate restructuring process. READ MORE
Infosys: The IT bellweather was ranked 3rd in Forbes' list of 'The World's Best Regarded Companies'. Other companies that found a place in the list include Tata Consultancy Services (22nd position) and Tata Motors (31) featured among the top 50 in the coveted list. READ MORE