The Nifty opened lower on Wednesday as indicated by futures trade on Singapore Stock Exchange. Foreign investors remained net sellers of Indian equities on Tuesday as they sold shares worth Rs 486 crore in cash market. However domestic investors were net buyers to the tune of Rs 201 crore. Brent crude fell to below $95 dollar mark on Tuesday which is likely to boost market sentiment today.
Here are the stocks likely to see action today
- State bank of India has reduced interest rates on term deposits up to 45 days by 1-6 per cent. This for the second time that SBI has revised interest rates on term deposits in a month.
- IDFC: Reserve Bank of India has reduced the investment limit for foreign institutional investors in IDFC to 48 per cent from 50 per cent earlier.
- Jet Airways/ SpiceJet: Aviation turbine fuel (ATF) prices were cut by 3 per cent with effect from Tuesday midnight. This is likely to be positive for these companies.
- HDFC Bank: Foreign Investment Promotion Board (FIPB) will meet on October 21 to take up HDFC Bank's proposal to increase foreign investment limit.
- Shemaroo Entertainment shares will list today on exchanges. The IPO was oversubscribed 7.39 times. Issue price of the share was Rs 170 per share and retail investors were given 10 per cent discount. Through this IPO promoters have reduced their holding from 92 per cent to 70 per cent.
- IVRCL: The company is reportedly planning to sell BOT (build-operate-transfer) assets worth Rs 4,000 crore to come out of debt burden . IVRCL is facing cash crunch due to economic slowdown, higher interest charges, and slower pace of execution of projects.