Stocks to watch: RCom, ICICI Bank, Sun Pharma and sugar stocks

Investors are likely to take cues from global peers on Wednesday. In a tit-for-tat move, China added $60 billion of US products to its import tariff list in retaliation for President Donald Trump’s planned levies on $200 billion worth of Chinese goods. That apart, movemement in the rupee will also be keenly watched. At 07:39 am, the Nifty futures on the Singapore Stock Exchange (SGX) were trading 2.50 points or 0.02 per cent lower at 11,312.50.  

Below is the list of top stocks that may hog the limelight in today's session - 

Reliance Communications: At the 14th AGM, RCom Chairman Anil Ambani announced that the company will exit telecom business completely, owing to intense slugfest in the sector and instead focus on real estate.

MCX: The stock may remain in focus today after Sebi on Tuesday has approved a proposal to allow foreign investors to trade in commodity derivatives market.

Sun Pharma: The pharma company said Spanish firm Almirall has received approval from the European Commission (EC) for Ilumetri, a drug used for treating psoriasis.In July 2016, Sun Pharma out-licensed Ilumetri (tildrakizumab) to Almirall, for the development and commercialisation of the product in Europe.

ICICI Bank: Sebi on Tuesday said ICICI Bank has replied to its showcause notice with respect to a probe into alleged regulatory lapses involving its chief executive officer Chanda Kochhar, her husband and NuPower Renewables promoter Deepak Kochhar and his business dealings.

Sugar stocks: The Union Cabinet today is likely to consider a Rs 45 billion plan to more than double the production assistance paid to sugarcane farmers and transport subsidy to mills exporting the sweetener, according to a PTI report.

KIOCL: The company has fixed October 1 as record date for the buyback offer. On September 12, the company's board approved the buyback offer of 1,25,88,235 equity shares of face value of Rs 10 each.

RITES: The company has bagged an additional contract worth Rs 436 crore from Indian Railways. The work is scheduled to be started in the last quarter of this financial year.