This Article is From Nov 30, 2015

Nifty Likely to Head Lower; United Breweries to be in Focus

Nifty Likely to Head Lower; United Breweries to be in Focus
The Sensex and Nifty are likely to open on a weak note as indicated by the Nifty futures traded on the Singapore stock exchange. The Nifty futures also known as the SGX Nifty was down 0.25 per cent or 20 points at 7,945.

Meanwhile, other Asian markets were also trading on a subdued note with Japan's Nikkei down 0.38 per cent, Hong Kong's Hang Seng down 0.18 per cent and China's Shanghai Composite index falling 0.06 per cent.

On Friday, US markets ended on a mixed note. The Dow Jones fell 15 points to 17,798. While, Nasdaq and S&P 500 closed on a positive note.

Back home, foreign institutional investors sold shares worth Rs 519.25 crore while the domestic institutional investors purchased shares worth Rs 900.48 crore on Friday.

Below are the stocks which will be in focus today:

Lux Industries: Shares of Lux Industries will be listed on exchanges today. Analysts expect Lux to trade between Rs 2,500-3,000 per share. The company has 20 per cent share in the organised hosiery market.

UB Holdings: Shares of United Breweries Holdings will be in focus today after the Private sector lender Yes Bank has invoked 3.02 per cent stake of United Breweries, pledged by McDowell Holdings, a unit of Vijay Mallya-led UB Group, by selling shares worth Rs 778 crore. 

The move comes after State Bank of India (SBI) declared Mallya, Kingfisher Airlines and its holding company United Breweries Holdings, as willful defaulters for defaults on nearly Rs 7,000-crore loans to the long-grounded carrier.

SpiceJet: The company is in talks with Boeing and Airbus to buy more than 150 planes, the airline's chairman said on Sunday, predicting he would decide which manufacturer to place the order with by the end of March 2016.

Biocon: India's biggest biotech firm Biocon Ltd expects revenue to double to $1 billion in four years as it expands in Europe and the United States with new products, its chairperson and managing director said on Saturday.