Stocks to watch today: Domestic markets are likely to snap four-day losing streak and turn positive on Wednesday, as global sentiments improve on in-line US inflation report.
As of 7:00 am, the SGX Nifty quoted 17,210 levels, up 98-odd points.
Globally, the US markets inched higher overnight after US annual consumer inflation eased to 6 per cent in February. Dow Jones, NASDAQ Composite, and the S&P 500 indices climbed up to 2 per cent.
Asia-Pacific markets, too, cheered in tandem, with Nikkei 225, Kospi, Kosdaq, Topix, and the S&P 200 indices gained up to 2 per cent.
Meanwhile, back home, here are few stocks likely to see action in Wednesday’s trade:
Cipla: The drug major inked pact with Africa Capitalworks to sell 51.1 per cent stake in Uganda-based Cipla Quality Chemical Industries (CQCIL). Following the sale, CQCIL will cease to a subsidiary of parent-company Cipla. The proposed sale is expected to be complete by end-of May. READ MORE
HCC: The construction firm along with a joint venture with Megha Engineering & Infrastructures bagged Rs 3,681 crore project for construction of a bullet train station. The contract was awarded by National High-Speed Rail Corporation Ltd (NHSRCL) for construction of Bandra Kurla Complex Station of Mumbai-Ahmedabad high-speed rail. READ MORE
HPCL: The company inked pact with Chevron Brands International LLC to manufacture, distribute, and market lubricants of the supermarket major. The management said that the collaboration comprises of licensing, production, distribution, and marketing of Chevron’s lubricant products. READ MORE
Axis Bank: Ratings agency CRISIL Ratings reaffirmed ‘stable’ rating on the debt instruments of the private-sector lender. The overall ratings reflect bank’s strong capitalisation, strong market position, and comfortable resource profile, said the ratings agency.
PNC Infratech: The company was declared lowest bidder (L1) in NHAI’s highway project to construct six-lane greenfield Varanasi-Ranchi-Kolkata highway from Pachmon village to Anarbansalea village in Bihar on HAM for Rs 1,260 crore.
RailTel Corporation: The company bagged Rs 287.5 crore work order from Centre for Development of Advanced Computing (C-DAC) for supply, installation, testing, integration, and commissioning of IT infrastructure in green field data centre in New Delhi and Bengaluru.
LIC: The life-insurance firm said that it has elevated Tablesh Pandey, executive director of the company, as its managing director. Pandey will replace present managing director B C Patnaik.
Glenmark Pharma: The US health regulator granted approval to the pharma major to market a generic antibiotic drug called Clindamycin Hydrochloride Capsules in strengths of 75 mg, 150 mg, and 300 mg.
NBCC (India): The company secured work order of Rs 500 crore to construct Government Medical College and Hospital at Karaikal, Puducherry.
Balu Forge Industries: The company received trial order to supply powertrain sub-assemblies to a tractor manufacturer based out of middle east. These components will be used in the production of engines that will power variety of tractors.
