Stocks To Watch Today: Telecom, Auto Stocks, Wipro
The domestic stock markets are likely to open on a cautious note, going by early indications from SGX Nifty futures trading. The S&P 500 and Dow Jones indexes rose on Wednesday on mildly positive factory data and higher oil prices, although concerns over a slowing economic recovery and higher corporate taxes kept sentiment subdued. Trends on SGX Nifty indicate a cautious opening for the Nifty, with a 12-points gain. At 8:00 am, the Nifty futures were trading at 17,546, higher by 12 points, on the Singapore Stock Exchange.
On Wednesday, the BSE Sensex rose 476.11 points to 58,723.20 and the Nifty climbed 139.50 points to 17,519.50.
Stocks to watch in trade in today's session:
Telecom stocks
The government announced the telecom relief package on Wednesday, offering a four-year moratorium on AGR and spectrum dues and 100 per cent FDI in telecom through the automatic route.
Auto stocks
The government, on Wednesday, announced a production-linked incentive scheme worth Rs 26,000 crore for auto and auto component makers.
Wipro
Wipro has bagged a multi-year IT managed services contract from the Kuala Lumpur-based Maxis Broadband.
Adani Transmission
Adani Transmission has received the letter of intent (LoI) for the acquisition of MP Power Transmission Package-II, incorporated by REC Power Development and Consultancy, the Adani Group company said.
Hindustan Copper
The government will sell upto 10 per cent stake in Hindustan Copper through an offer for sale option in the stock exchanges, which could fetch around Rs 1,121 crore.
