This Article is From Apr 01, 2015

ONGC, HCL Tech, Oil India in Focus Today

ONGC, HCL Tech, Oil India in Focus Today
The Nifty is set to open lower on Wednesday tracking weakness in global markets. Foreign investors bought cash shares worth Rs 356 crore on Tuesday, while domestic investors bought shares worth Rs 284 crore. Trading volume also increased on Tuesday; cash segment registered a volume of Rs 20,076 crore (up 21 per cent over Monday's volume) and the derivative segment registered a volume of Rs 1.77 lakh crore (up 11 per cent over Monday's volume).

Here are the stocks to track in trade today

  1. ONGC/Oil India/ Reliance Industries: Price of domestically-produced gas for April-September has been cut by higher-than-expected 8 per cent to $5.18/mmbtu. Earnings per share (EPS) estimates of ONGC, OIL and RIL are likely to be downgraded by 4 per cent, 7 per cent and 1 per cent in 2015-16 fiscal year.

  2. HCL Technologies expects cross currency fluctuations to impact its revenues by higher-than-expected 280 basis points in the March quarter.

  3. JSW Energy Chairman Sajjan Jindal is reportedly selling 15 per cent stake in the company through a qualified institutional placement (QIP) to raise about Rs 2,000 crore.

  4. Auto companies like Maruti Suzuki, M&M, Tata Motors, Ashok Leyland, Hero MotoCorp will react to March sales numbers.

  5. Hindustan Construction Company has received a contract worth of Rs 392 crore from the Ministry of Road Transport & Highways for construction of four laning of Jamgurihat to end of Biswanath Chariali bypass in the state of Assam on Engineering Procurement Construction (EPC) basis.

  6. eClerx Services has entered into a definitive agreement to acquire 100 per cent stake in CLX Europe S.P.A., Italy. The company believes the deal will be EPS accretive.

  7. SKS Microfinance has allotted non-convertible debentures worth Rs 200 crore on private placement basis and the same will be listed on the wholesale debt market segment of BSE.

  8. Pipavav Defence and Offshore Engineering: The Corporate Debt Restructuring Empowered Group of the company has approved corporate debt restructuring package. The lenders of the company have entered into relevant agreement for this purpose.

  9. Kalpataru Power Transmission has bagged orders worth over Rs 835 crore in transmission line sector.