Stocks to watch out for on Friday, June 29: ICICI Bank, Tata Steel, Titan
Indian markets are likely to open on a positive note. Support for Nifty is at 10,550 while resistance is at 10,723 level. Bank Nifty Support is at 26,161 and resistance is at 26,651.
Key U.S. indices rose to 3-week highs led by gains in shares of technology companies, which rebounded from losses due to the US' unclear strategy towards China.
Asian market trading mix, SGX Nifty trading with gains of 0.4%
A list of stocks which will be in focus today.
ICICI Bank: Business Standard reports ICICI Bank board will meet today to discuss appointment of new chairman. Board is likely to discuss names of 4 shortlisted former bureaucrats for chairman. Current Chairman MK Sharma's term ends on June 30. ICICI Bank on Thursday approved appointment of Walker Chandiok as statutory auditors for FY19.
IDBI Bank: PTI reports that the board of insurance regulator IRDAI is scheduled to meet today amid reports that insurance behemoth LIC may pick up a majority stake in state-run IDBI Bank. It is understood that the IRDAI board may consider hiking investment limit for a particular insurance firm beyond 15% in the interest of policyholders.
Tata Steel: Thyssenkrupp & Tata Steel is close to resolving issues with regard to planned JV as unions vote in favour of JV. Thyssenkrupp is said to own 55% of economic rights in steel JV. Thyssenkrupp-Tata Steel are said to have equal voting rights in Steel JV.
Wipro Ltd: Wipro has completed the divestment of its data centre business in Germany, UK for a consideration of $405 mn
Titan: Business Standard report Rakesh Jhunjhunwala, others have sold 2.67% shares in Titan. Following the share sale, Jhunjhunwala's stake is down to 7.4% from 8.8% earlier in Titan. Jhunjhunwala has been a stakeholder in Titan for more than a decade.
DRL: Indivior’s temporary restraining order has been extended for additional 4 days. Company has filed a preliminary injuction to extend cessation of DRL’s launch.
Fortis Healthcare: Fortis has extended the deadline to submit binding bids to July 3, the earlier deadline for M&A bids was June 28.
I.T. stocks in focus: Technology stocks will be in focus today as global peer Accenture has raised range for full-year revenue growth to 9.5%-10% in local currency. Indian rupee is trading at an all-time low near 69/$ level.
P Chidambaram today moved a Delhi court seeking anticipatory bail in the Aircel-Maxis case.
Javadekar told the Lok Sabha that the new body would not be a government ministry but an independent body.
Vijaya Bank reported 43.3 per cent decline in net profit at Rs 144.34 crore for June quarter even though NPA ratio improved.
Naidu announced that lawmakers of the Upper House can now submit notices for discussion and question hour online through a new app.
Sharif is on the verge of a kidney failure and doctors have recommended to shift him to a hospital immediately, according to a media report.
The station, which was named after Lord Elphinstone, the Governor of Bombay Presidency from 1853 to 1860, has now been renamed in honour of a local deity.
Lavasa -an ultimate getaway, a city that would offer the charms of European locales, with five star comforts in a scenic part of Maharashtra has now become an abandoned town.
A second chargesheet by the ED has confirmed the trail of illegal cash Mallya transferred to his accounts across global tax havens.
Delayed payment by GMR-led DIAL, the Delhi airport operator, to the CISF guards could eventually lead to passengers paying more to fly out of the Indian Capital.
The West Bengal Police has claimed to have busted a Rs 100 crore plus job racket in the Indian Railways following a crucial arrest in the Indian Capital.