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Here are a few stocks that are likely to be in focus today:
ICICI Bank is looking at raising Rs 50,000 crore through private placement of securities including bonds and non-convertible debentures (NCDs).
TCS is now the largest dividend payer in India Inc, ahead of government-owned Coal India and Oil and Natural gas Corporation.
Vedanta, formerly Sesa Sterlite, is set to make an official announcement on Sunday about its merger with wholly owned subsidiary Cairn India.
Mukesh Ambani, chairman and managing director of Reliance Industries, could use the company's 41st annual general meeting to announce plans for telecom subsidiary Reliance Jio Infocomm.
Vishal Sikka, the chief executive officer (CEO) and managing director (MD) of Infosys has made it to the list of top-50 Highest Rated CEOs in 2015 by career website Glassdoor.
HUL has decided to stop manufacturing and distribution of its Chinese range of instant noodles as the product was not on the approved list of items of the central food safety regulator FSSAI.
BEML has received an order worth Rs 645 crore from Delhi Metro Rail Corporation for supplying 74 broad gauge coaches.
The patent office in India has decided to grant TVS Motor for an engine for a three wheeler, with a cooling system for the rear mounted liquid cooled engine.
The Kerala Cabinet on Wednesday cleared the lone bid submitted by Adani Ports and SEZ Limited to develop the Rs 6,500-crore Vizhinjam port project, Thiruvananthapura.
MARKET COMMENTARY
The markets are likely to extended gains on Thursday following positive trend across other Asian markets. The early indicator, SGX Nifty has gained 38 points at 8,151 levels.
"The outlook is a positive start. MSCI deferring inclusion of China stocks to its benchmark indices have turned the bulls berserk for now. The bounceback by the Indian rupee against the US Dollar provided yet another positive trigger for Wednesday’s upswing. Follow-up buying may be seen as investors look to lap up some beaten down shares. Global cues are healthy for now," points out a morning note from IIFL.
On Wednesday, markets bounced back after seven straight day of losses on value buying and short covering in blue chip stocks led by index heavyweight Reliance Industries. Further, market sentiment improved after MSCI deferred inclusion of China A stocks to its benchmark indices which had triggered the continuous outflow of funds by the foreign investors.
On the macro-economic front, India’s current account deficit (CAD) declined sharply to $1.3 billion (0.2% of gross domestic product) in the quarter ended March from $8.3 billion (1.6% of GDP) in the quarter ended December.
Adds a technical analyst from Anand Rathi Research: "The Nifty has to hold above 8,120 to continue this bounce back move towards 8,180 and 8,230 levels. While if it fails to hold 8,080 level then weakness may drag the index towards its support of 8,050 then 8,000 levels. Index has marked multiple hurdle at every small up move so traders need to trade the market cautiously."
GLOBAL MARKETS
US stocks jumped on Wednesday, helped by optimism that Greece may be closer to reaching a deal with creditors and by gains in technology and financial shares.
The Dow Jones industrial average rose 236.36 points, or 1.33%, to 18,000.4, the S&P 500 gained 25.05 points, or 1.2%, to 2,105.2 and the Nasdaq Composite added 62.82 points, or 1.25%, to 5,076.69.
Asian stocks rose on Thursday, encouraged by gains on Wall Street, while the New Zealand dollar tumbled to a five-year low after the central bank cut interest rates for the first time in four years as the economy slows.
South Korea's central bank also eased, cutting its rate to a record low 1.50 percent to offset the potential impact of an outbreak of Middle East Respiratory Syndrome (MERS). MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6%.
Tokyo's Nikkei added 1.5% while Australian shares gained 1.2 percent and South Korea's Kospi advanced 0.5%. The Shanghai Composite Index bucked the trend and lost 0.3%.
With Reuters input
