Fall in crude prices, movement of rupee and global trends are among the key factors that will drive the market direction on Thursday. Also, nearly 26 BSE listed companies are slated to announce their September quarter earnings later in the day. On Wednesday, the S&P BSE Sensex ended marginally lower at 35,142, down just two and a half points while NSE's Nifty50 index slipped below the crucial 10,600 level to end at 10,576, down 6 points.
Here's a look at the top stocks that may remain in focus in today's session -
YES Bank: Ashok Chawla, Yes Bank’s non-executive chairman, has stepped down with immediate effect, following his name appearing in Aircel-Maxis controversy. Independent Director Vasant Gujarathi has also quit, citing personal commitments. The bank's board has appointed Uttam Prakash Agarwal as additional director (Independent) for five years, subject to shareholder’s approval.
Vodafone-Idea: In its maiden financial results after the merger, Vodafone Idea on Wednesday reported a net loss of Rs 49.7 billion on a revenue of Rs 120.2 billion. Meanwhile, the company has indicated that its board is evaluating a fund raising of up to Rs 250 billion (or $3.5 billion).
Jet Airways: According to a report by the Economic Times, Tata SIA Airlines, the joint venture between Tatas and Singapore Airlines, is eeyeing an all-stock merger of Vistara with Jet Airways. The transaction, if successful, will give the Tata group’s aviation plans a muchneeded boost as it will secure landing rights, routes and related infrastructure amenities of Jet after the deal, the report adds.
NHPC: The company's board has approved share buyback of 214 million shares, representing 2.09 per cent of equity capital at Rs 28 per share aggregating to Rs 6 billion. The record date set for buyback is November 30.
Gail: As per media sources, India's gas transportation regulator Petroleum and Natural Gas Regulatory Board (PNGRB) may hike transmission tariffs for remaining pipelines by December 2018.
Eicher Motors: Media reports suggest Eicher Motors has launched two new models in India, in the 650 cc segment under the RE brand i.e. Interceptor and Continental G T at a price of | 2.5-2.85 lakh/unit. These are high end bikes primarily aimed at off-roading as well as racing purposes.
IT stocks: According to IT research firm Gartner, IT spending in India is projected to see 6.7% growth YoY to $89.2 billion in 2019. Spending on IT services is expected to experience the highest growth in 2019 with 13.5% increase YoY.
Resurgent Power: As per media sources, Resurgent Power has acquired 75% in Jaypee’s 1980 MW Prayagraj Power becoming the first of the nearly dozen stressed power plants proposed to be resolved by lenders outside insolvency court. The estimated deal value is about Rs 60 billion.