Domestic equity markets are likely to open in red on Thursday tracking SGX Nifty and global cues. At 07.50 am, SGX Nifty was trading 16 points, or 0.19 per cent down at 8,522.
Asia shares joined the U.S. dollar on the defensive on Thursday as the nail-biting U.S. presidential race saw the S&P 500 suffer its longest losing streak in five years as investors sailed to safer harbours. Oil prices steadied for a moment after taking a beating on data showing a record weekly build in U.S. crude inventories. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat with only minor moves across the region. Shanghai and South Korea barely budged.
The BSE Sensex on Wednesday tumbled over 349 points to close at 27,527.22 on weakening global cues after the latest poll suggested that Republican Donald Trump was slightly ahead of market favourite Hillary Clinton in the US Presidential race. Also, the broader NSE Nifty broke below the 8,600-mark level to close at an over three-month lows.
Stocks in focus:
1. Reliance Industries Limited: Reliance Jio Infocomm will install around 45,000 mobile towers in the next six months to boost its 4G network.
“Reliance Jio in meeting with Telecom Minister (Manoj Sinha) has committed to invest 45,000 crore mobile towers in next 6 months to further strengthen its network. The company has said that it has plans to invest Rs 1 lakh crore over a period of 4 years and the new towers are part of this investment,” an official source told PTI.
2. Dilip Buildcon: Infrastructure firm Dilip Buildcon on Wednesday said it has won a Rs 914-crore contract from the government for upgradation of a highway stretch in Maharashtra under National Highways Development Project (NHDP).
3. Ajanta Pharma: Drug firm Ajanta Pharma on Wednesday said it has launched in the US market tablets used for lowering blood pressure.
After the approval of the United States Food and Drug Administration (USFDA), the company has launched Amlodipine + Olmesartan Medoxomil tablets in the US market through its arm Ajanta Pharma USA Inc,” the company said in a BSE filing.
4. Tech Mahindra: Stockmann Plc, a Finland-based company engaged in retail, on Wednesday said it has signed a five-year cooperation agreement with Tech Mahindra to produce part of the firm’s ICT services. According to a statement issued by the Finnish company,
the purpose of the long-term partnership is to increase efficiency in developing innovative ICT solutions for Stockmann’s customers, lower costs, harmonise and centralise ICT (Information Communication Technology) services.
5. HT Media: HT Media today reported a decline of 16.01 per cent in its consolidated net profit to Rs 30.93 crore for the quarter ended on September 30, 2016. The company had posted a net profit of Rs 36.83 crore in the July-September period of the previous fiscal, HT Media said in a BSE filing.
6. TVS Motors: TVS Motor Company today reported 12 per cent increase in total sales at 3,08,690 units in October.