Reliance Infra, Pipavav Defence, Cairn India in Focus Today

Reliance Infra, Pipavav Defence, Cairn India in Focus Today
The Nifty opened flat on Thursday tracking weak global markets. However, sentiment is likely to be positive as foreign investors continued to be net buyers of Indian equities. On Wednesday, they have bought shares worth Rs 2,786 crore. Trading volume also increased, with cash segment volume rising 30 per cent to Rs 33,152 crore. In the derivatives segment, volumes soared 70 per cent to Rs 3.4 lakh crore against Tuesday.

Here are the stocks to track in trade today

  1. Reliance Infrastructure/Pipavav Defence: Anil Ambani-led Reliance Infrastructure on Wednesday announced the acquisition of 17.8 per cent stake in Pipavav Defence and Offshore Engineering at Rs 63/share. Reliance Infra will make an open offer for 26 per cent stake at Rs 66/share.

  2. Cairn India has cut its capital expenditure guidance for FY16 from $1.2 billion to $0.5 billion. The company said lower oil prices led to cut in capex spend.

  3. Adani Power won the Jitpur mine in the coal block auction at Rs 302/tonne. The mine can meet 15 per cent of its 17mtpa coal deficit annually. Analysts say this mine can reduce Mundra plant's loss by 40 per cent.

  4. Crompton Greaves has bagged three orders to supply 40 lakh LED lamps to Energy Efficiency Services (EESL). EESL is a joint venture set up by the Power Ministry comprising of four public sector undertakings-NTPC, PFC, REC and Power Grid.

  5. IDBI Bank approved separation of CMD post into 2 posts, MD & CEO and chairman. The bank has appointed NS Venkatesh as chief finance officer.

  6. Gujarat Alkalies & Chemicals has decided to close its Calcium Chloride plant of Vadodara Complex as it was incurring losses. Management says close down of the plant will improve profitability of the company.

  7. Titagarh Wagons: Board of directors of the company has approved stock split in the ratio of 5:1. Each share having face value of Rs 10 will be divided in to 5 shares of Rs 2 face value.

  8. Power Grid Corporation of India shares go ex-dividend today. The company had declared an interim dividend of Rs 0.69/share.



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