At 08:12 am, Nifty futures on the Singapore Exchange (SGX) were trading 20.50 points or 0.19 per cent lower at 11,008, indicating a negative start for the Indian market on Wednesday.
Here's a look at the top stocks that may remain in focus in today's trading session -
GAIL: State-owned gas utility GAIL India will invest over Rs 45,000 crore over the next five years to expand the National Gas Grid and city gas distribution network, its chairman Ashutosh Karnatak said on August 20.
Dr Reddy's: USFDA has issued eight observations to Dr Reddy's Laboratories after the inspection of its Duvvada facility in Andhra Pradesh, the pharma major said on Tuesday.
CG Power: Ministry of Corporate Affairs (MCA) has ordered an inspection into the affairs of the company after auditors of the power equipment maker resigned a few months ago. The company on Tuesday announced it will restate earnings after discovering “suspect, unauthorised and undisclosed” transactions. READ MORE
DHFL, banks: Resolving the crippled mortgage lender DHFL’s over Rs 90,000 crore debt is "not so easy" and banks are considering converting their outstanding into equity, Union Bank of India said Tuesday.
Infosys: The country’s second-largest IT services firm Infosys has scope for further revision of its revenue guidance for the ongoing fiscal on the back of a strong deal pipeline, said analysts at ICICI Securities.
Procter & Gamble Hygiene: The company is slated to announce its June quarter results later in the day.
SPARC: In a BSE filing, the company informed that a complaint has been filed by Abraxis Biosciences LLC in the US District Court, which alleges that SPARC’s filing of New Drug Application (NDA) for Taclantis® injection is an act of infringement of the Orange Book listed patents for Abraxane®. However, it clarified that the lawsuit was without merit and it will vigorously defend against the allegations.
Alembic Pharma: No 483s issued by USFDA at the end of the inspection at the company's Bioequivalence Facility located at Vadodara.
Deepak Nitrite: ICRA has upgraded long term ratings to AA- from A+, with outlook changes from Positive to Stable.
SpiceJet said it will move its entire Mumbai operations to the Terminal 2 of the city's Chhatrapati Shivaji International Airport with effect from October 1, 2019, to streamline its operations.
HDIL: As per news reports, Housing Development and Infrastructure (HDIL) said it will face insolvency proceedings under the provisions of the Insolvency and Bankruptcy Code (IBC) as per an order passed by the National Company Law Tribunal (NCLT).
Max Financial: Analjit Singh, the promoter of Max group, is in talks to sell a 10 per cent stake in Max Financial Services, the holding company for Max Life Insurance Ltd, to raise around Rs 1,200 crore, said a report by The Economic Times.
Bharti Airtel: In the upcoming spectrum auctions, Bharti Airtel may not buy the coveted 5G spectrum and the “expensive” 700 MHz premium airwaves. It plans to bid for airwaves in the 800, 900, and 1800 MHz bands for which its licences have either expired or are about to expire. READ MORE
NMDC: Foreign brokerage NMDC has maintained 'buy' rating on the stock with the target price of Rs 120. The brokerage said that immediate impact would on NMDC'svolumes if Donimalai lease is lost.
NTPC: Macquarie has cut the target price to Rs 141 from Rs 148 but has maintained 'outperform' rating on the stock. The brokerage says the stock is a good buy in current uncertainty.
Auto companies: According to TV reports, the government may postpone registration fees for vehicles.