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Equity benchmark indices Sensex and Nifty are looking to start on a sombre note on Thursday, tracking weakness across global markets as investors await jobless claims numbers in the US today.
Meanwhile, a sharp 3.8 per cent dip in Brent crude to $74 per barrel will provide support as both indices eye breaching 70,000 and 21,000, respectively.
At 7:30 am, the Gift Nifty futures were nearly flat at 19,847 over Nifty futures’ last close.
The Dow and S&P 500 fell for a third session, slipping 0.19 per cent and 0.39 per cent, respectively, overnight while the Nasdaq Composite lost 0.58 per cent.
Asian stocks also edged lower with trade data from China being awaited. Japan’s Nikkei lost over 1 per cent, leading losses in the region. Australia’s S&P/ASX 200 and Kopsi in South Korea fell up to 0.3 per cent.
Back home, here are some stocks to watch out in trade today:
Adani Wilmar: The Adani group and Singapore’s Wilmar International are learnt to have approached several private equity (PE) firms to sell part of their stake in their consumer-staple joint venture, Adani Wilmar. Read
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IRCON: The government will sell up to an 8 per cent stake in IRCON International through an offer-for-sale, which will open on Thursday. It plans to offload 37.6 million equity shares for non-retail investors on Thursday. An additional 4 per cent stake will be sold on Friday if the offer is oversubscribed.
Paytm: Paytm will slow down disbursing loans under Rs 50,000, weeks after the central bank tightened rules on consumer lending. This could be a reduction of 50 per cent, it said.
ALSO READ: 90% of Nifty 500 stocks trade above 200-DMA; time to be selective: Analysts
Bharti Airtel: Warburg Pincus is offering 17.5 million shares in the company, via a block deal today, at a floor price of Rs 1,005 per share. It plans to raise $211 million through the stake sale, as per Bloomberg.
Delta Corp: The Calcutta High Court has granted interim relief to a unit of Delta Corp relating to the Rs 6,384 crore payment for the shortfall of goods and services tax. It directed that no effect shall be given to any order passed by the Tax Authority in relation to this tax demand.
ALSO READ: 90% of Nifty 500 stocks trade above 200-DMA; time to be selective: Analysts
Bharti Airtel: Warburg Pincus is offering 17.5 million shares in the company, via a block deal today, at a floor price of Rs 1,005 per share. It plans to raise $211 million through the stake sale, as per Bloomberg.
IDFC First Bank: Cloverdell Investment (Warburg Pincus) is reported to be selling 1.3 per cent stake in the bank via a block deal today. Deal size is estimated at $100 million with a floor price of Rs 85.7 per share, reported CNBC-TV18.
Dr Reddy's: Has entered into an exclusive collaboration with Coya Therapeutics for development and commercialisation of COYA 302, an investigational combination therapy for treatment of Amyotrophic Lateral Sclerosis (ALS).
Bharat Electronics: BEL has won orders worth Rs 580 cr from the Indian Army for AMC of Radars.
RITES: Has inked a pact with Meghalaya Industrial Development Corporation to develop multi-modal logistics projects in Meghalaya.
Brigade Enterprises: It has signed joint development agreement to develop a Grade A office space in Bengaluru's CBD with development value of Rs 500 cr.
ALSO READ: Nomura hikes India exposure; M&M, Fortis, UNO Minda among favourites
TV18 Broadcast: Network18 Media & Investments and TV18 Broadcast have announced a scheme of arrangement. As per the scheme, TV18 and e-Eighteen.com will merge with Network18.
Axiscades Technologies: It has acquired 100 per cent stake in Hyderabad-based Epcogen.
Kothari Petrochemicals: The company said operations at its factory in Manali Industrial area in Chennai have been temporarily disrupted due to cyclone Michaung.
