 "Markets likely to remain cautious on possibility of Grexit")
Markets are likely to remain cautious in today’s session as investors continue to fret about the uncertainty in Greece after the country closed its banks for the week and imposed cap on cash withdrawals. Meanwhile, crude oil prices and movement of the rupee are likely to dictate the trend on the bourses.
Greece’s crisis deepened over the weekend after Prime Minister Alexis Tsipras declared that the country will hold a referendum on a bailout plan proposed previous week by the country’s creditors.
GLOBAL MARKET
Asian stocks rose and the euro sagged on Tuesday as Greece moved toward defaulting on a looming debt payment, raising the possibility of the country’s exit from the euro zone. China's Shanghai Composite has shed over 2%. Meanwhile, Japan's Nikkei is trading with marginal gains.
STOCKS ON THE RADAR
Some of the stocks Tata Steel, Tech Mahindra, Bharat Forge, Motherson Sumi, Tata Motors which have a prominent Euro exposure are likely to remain in focus.
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Reliance Communications (RCom) is in talks with American Tower Company (ATC) and Carlyle to sell a majority stake in its tower subsidiary Reliance Infratel in the current financial year.
Syndicate Bank is likely to remain in focus as the bank decides to reduce the pace of business expansion for 2015-16, to strike a balance in credit exposure and the liability profile.
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Dr Reddy's Laboratories has initiated a nationwide voluntary recall of two drugs earlier this month -Divalproex Sodium extended release tablets and Amlodipine Besylate and Atorvastatin Calcium tablets- from the US.
Reliance Industries may postpone the development of R-Series and other satellite gas fields in the eastern offshore KG-D6 block if the gas price outlook was uncertain.
Mahindra and Mahindra has decided to set up new assembly lines for its SUV models. M&M will invest around Rs 6500 crore at the Chakan plant over the next 7 years to double its capacity.