A 1,000-point jump in the US stocks and the rub-off effect on the Asian equities are likely to boost investor sentiment back home on Thursday. At 08:38 am, the Nifty futures on the Singapore Stock Exchange (SGX), an early indicator of Nifty50's performance, traded 40 points or 0.37 per cent higher at 10,801.50.
Here's a look at the top stocks that may remain in focus in today's trading session -
Sun Pharma: DUSA Pharmaceuticals, an arm of of the Mumbai-based pharma major, has been granted preliminary injunctive relief by a federal district court prohibiting defendants Biofrontera Inc, Biofrontera Bioscience GmbH, Biofrontera Pharma GmbH, and Biofrontera AGf from using its confidential and proprietary trade secret information.
NTPC: The state-owned power generator Wednesday announced it has received investment approval for two solar power projects of 160 Megawatt capacity in Uttar Pradesh.
SBI Life: According to a report by The Economic Times, a consortium of US private equity firm Carlyle Group and Singapore’s sovereign wealth fund GIC is set to buy a 10 per cent strategic stake in SBI Life Insurance Co from BNP Paribas Cardif.
Offline retailers: The Department of Industrial Policy and Promotion (DIPP) on Wednesday issued a set of additional guidelines for foreign direct investment (FDI) in the e-commerce sector. Shares of offline retailers such as Shoppers Stop, Future Retail, AB Fasion, Trent are likely to be in focus after the move.
HUL: FMCG major Hindustan Unilever (HUL) Wednesday said it was considering “legal options” after GST anti-profiteering authority found it guilty of not passing on rate cut benefits to consumers. The National Anti Profiteering Authority (NAA) has passed an order against the company on December 24, 2018 for depositing an amount of Rs 2.23 billion.
NBFCs: Some key non-banking financial company (NBFC) players on Wednesday met Prime Minister Narendra Modi to bat for easier regulatory norms, highlighting how “over-regulation” is affecting their liquidity and “crippling” the sector. In response, the PMO told the industry executives to bring all relevant parties — finance ministry and Reserve Bank of India — to the table.
Tata Global Beverages: CARE has reaffirmed its A1+ rating in respect of company's securities and borrowings for commercial papers of Rs 7.15 billion.