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Markets are likely to open on a lower note mirroring weakness in the global peers. Meanwhile, caution is likely to prevail on the bourses ahead of the US jobs data due later today. However, stock specific action could be seen with some of the notable large caps including Tata Motors and M&M are due to post their quarterly earnings today.
Rainfall was 26 per cent less than normal during the week that ended on Wednesday, mainly due to a 50 per cent shortage in the southern states.
STOCKS ON THE RADAR
Lakshmi Vilas plans to issue up to 4.25 crore equity shares to public or institutional investors, which may fetch it Rs 376.55 crore at the current price.
The technology pack is likely to remain in focus ahead of the US jobs data due today.
Bharti Airtel on Thursday announced a commercial launch of these services in 296 towns, ahead of the planned December launch of Mukesh Ambani’s Reliance Jio.
Srei Infrastructure Finance has decided to scale up acquisition of infra projects, which have run into troubled waters but have potential for revival.
Maruti Suzuki is planning to have 100 exclusive NEXA showrooms across the country by the end of this financial year, a senior official said.
Tata Motors and M&M are due to release their quarterly numbers later today.
Tata Steel plans to sell 5.5% stake worth Rs 5500 crore in Tata Motors in one or two tranches, sources suggest. Tata Group may buyout Tata Steel stake in Tata Motors, according to media reports.
Bombay Dyeing and Manufacturing reported a marginal decline in its standalone net loss at Rs 53.37 crore for the first quarter ended June 30, 2015.
GLOBAL MARKET
Asian shares are trading lower following weakness in the Wall Street as caution reigned ahead of US employment data that may help determine whether the Federal Reserve could raise interest rates in near future. Shanghai Composite is down 0.8% and early indicator SGX Nifty is down 0.3%. However, Hang Seng is bucking the trend and is up 1%.
Japan's Nikkei 0.2% as investors awaited the outcome of the Bank of Japan's two-day policy meeting later this session, at which it is widely expected to maintain its stimulus program.
