The Nifty opened higher on Friday tracking positive global markets. Foreign investors continued to be net sellers of Indian equities. They have sold stocks worth Rs 467 crore in cash market on Thursday. However, domestic investors were net buyers to the tune of Rs 289 crore in cash market.
Here are the stocks likely to see action today
- Infosys is likely to post 1 per cent sequential jump in its revenue at $2223 million for the third quarter of fiscal 2015 when it reports its earnings today. As per analysts the company is likely to cut its revenue guidance for FY15 to 6.5-8.5 per cent from 7-9 per cent.
- SpiceJet: As per reports the company is likely to get first round of funds by tomorrow and additional fund infusion is expected by beginning of February. Former promoter Ajay Singh along with potential investors have reportedly submitted a rescue plan to the civil aviation ministry.
- Kotak Mahindra Bank: Its shareholders have approved raising investment limit for foreign investors to 42 per cent of its total paid-up equity capital.
- Tata Steel: Moody's has upgraded its rating from Ba2 to Ba1 with stable outlook. The upgrade reflects improved liquidity in the company and would support further growth of its Indian operation, the rating agency said.
- 8K Miles Software Services reported Q3 earnings yesterday, which were in-line with estimates. Its net profit grew 30 per cent sequentially to Rs 5.38 crore, while its revenue grew 28 per cent sequentially to Rs 34.7 crore.
- ONGC: The government is working on a new subsidy sharing formula for ONGC as the crash in global oil prices has impacted the stock. A new formula will help ONGC notch better valuation, which will aid disinvestment.