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ICICI Bank, State Bank of India, DLF in Focus Today

ICICI Bank, State Bank of India, DLF in Focus Today

The Nifty is set to open higher on Wednesday tracking advances in Asian shares. On the domestic front also sentiment is likely to remain positive after three top lenders obliged the RBI with a base rate cut on Tuesday. Foreign investors were net buyers of Indian equities to the tune of Rs 144 crore on Tuesday. However, domestic investors were net sellers to the tune of Rs 236 crore. Trading volumes also increased on Tuesday.

Here are the stocks to track in trade today:

1) State Bank of India, ICICI Bank and HDFC Bank have cut base rates by 15 basis points to 25 basis points. SBI's net interest margins will be impacted by 4-5 basis points because of the reduction in base rate, analysts estimate. ICICI Bank's NIM is estimated to fall by 5-6 basis points because of the cut.

2) DLF/ HDIL/ Sobha Developers: The Cabinet yesterday approved the Real Estate Development and Regulation Bill, which aims to set up a regulator for the real estate sector. The new regulator is expected to enforce strict compliance in the sector.

3) Rural Electrification Corporation: Floor price for the offer for sale (OFS) of REC shares has been fixed at Rs 315 against Tuesday's closing price of Rs 320.60. The government is likely to raise Rs 1,550 crore by selling 5 per cent stake in the company today.

4) Aurobindo Pharma: The Cabinet Committee on Economic Affairs (CCEA) yesterday cleared the company's plans to infuse upto Rs 2,156 crore through Qualified Institutional Buyer (QIB), which is around 7 per cent of fresh equity. Foreign investors currently hold 27.32 per cent stake in the company.

5) Glenmark Pharmaceuticals: CCEA has cleared the company's proposal to increase foreign holding limit in the company to 49 per cent from 35.07 per cent now.

6) ING Vysya Bank shares will stop trading on the exchanges with effect from April 16, 2015. Shareholders of ING Vysya Bank will get 7.25 shares of Kotak Mahindra Bank for every 10 shares of ING Vysya Bank.

7) Apollo Hospitals Enterprise: Bank of New York Mellon Corporation has sold shares worth Rs 23 crore in the company.

8) Bajaj Corp, CMC will report their Q4 earnings today.

9) Dr. Reddy's Laboratories has filed three new drug applications (NDA) with the US Food and Drug Administration.

10) SKF India goes ex-dividend today. The company had declared a dividend of Rs 2.5 per share.