Sharemasterindia.com: Indian stock markets are likely to open lower on Monday tracking weakness across global equities. The Nifty futures, traded on Singapore Stock Exchange, was down 6 points or 0.07 per cent as of 08.30 a.m. Crude oil, which surged over 2 per cent on Friday, is likely to weigh on markets.
Sentiment is likely to be weak as foreign investors continued to be net sellers of Indian equities; they sold cash shares worth Rs 550 crore on Friday. However, domestic investors were net buyers to the tune of Rs 880 crore. Cash market volume increased 7 per cent on Friday as compared to Thursday, but volumes in the derivative segment remained flat.
Here are the stocks to track today:
1) Sun TV Network: According to media reports, the home ministry has declined security clearance for renewal of broadcasting licenses to Sun TV group channels. This could force Sun TV to take all its 33 channels off air.
2) Jindal Stainless/Maharashtra Seamless: The government has imposed anti-dumping duties between $180-$316/per tonne on imported steel to deter steel imports. The duty is applicable on imports from China, Malaysia and South Korea. This development is positive for Indian stainless steel makers like Jindal Stainless and Maharastra Seamless.
3) Yes Bank is planning to raise Rs 6,400 crore in fresh equity and Rs 10,000 crore through non-convertible debentures and bonds. Shareholders of Yes Bank have also approved increasing foreign investment limit in the bank to 74 per cent.
4) Bombay Dyeing has sought shareholders nod to sell its textile processing unit in Pune.
5) Reliance Power/Adani Power: Both companies have signed separate memorandums of understanding to build power plants in Bangladesh to produce up to 4,600 megawatts of electricity. Reliance Power will invest $3 billion for this and Adani power will invest $1.5 billion.
6) Bhushan Steel: Lenders of the company have agreed to refinance its loans under the 5/25 scheme.
7) Dalmia Bharat Sugar and Industries will invest Rs 150 crore on business expansion.
8) Unitech: Mayfair Capital, which is a promoter entity of Unitech has submitted a disclosure that its pledged shares have been invoked. This had led to 8.8 per cent of equity being sold on June 3, 2015. Post this stake sale promoter holding in the company has came down to 36.7 per cent from 45.5 per cent earlier.
9) JM Financial and Aurobindo Pharma go ex-dividend today. Aurobindo Pharma had declared dividend of Rs 1/share, while JM Financial had announced dividend of Rs 0.8/share.
