Stocks in focus on 05 April, 2018

NEW DELHI: The domestic equity market is likely to see a gap-up opening on Thursday, tracking Nifty on the Singapore Stock Exchnage (SGX). At 08:15 am, the Nifty futures of SGX were trading 165 points or 1.63 per cent higher at 10,295.

Here is a list of top stocks that are likely to be in focus in today's trading session:

ICICI Bank: ICICI Bank and its top management risk facing a class action lawsuit in the US if charges of corruption and malpractice are proven against them and these allegations also spread to more accounts other than Videocon, US-based brokerage Jefferies stated in a note on Wednesday. It has cut ICICI Bank’s price target to Rs 370 per share.


63 Moons Tech: According to media reports, Economic Offences Wing (EOW) has freezed operational accounts of 63 Moons Technologies. EOW's actions are part of investigation in the Rs 5,600 crore NSEL scam.

Rate-sensitive stocks: Auto, bank and real estate stocks are likely to hog limelight today as the RBI will declare first bimonthly monetary policy review of FY19 today. The central bank is likely to keep the monetary policy steady at the meeting, but shift to a hawkish stance. It will raise interest rates early in 2019, as inflation pressures build, economists said in an analysts’ poll.

Midhani: Canara Bank and Union Bank of India sold 9.69 lakh shares and 10 lakh shares respectively of Mishra Dhatu Nigam (Midhani) on Wednesday, bulk deal data on the NSE showed. Mishra Dhatu Nigam made a listless debut on the exchanges on Wednesday. The stock listed at Rs 87 against the issue price of Rs 90. The stock ended the day at Rs 90 on the BSE.

Banking stocks: The Reserve Bank of India has temporarily relaxed provisioning norms for lenders to defaulters undergoing bankruptcy resolution in a move that could help banks bolster their financial results for the year and quarter ended March. Provisions for accounts referred to the National Company Law Tribunal (NCLT) have been reduced to 40 per cent of dues at the end of March for secured loans, down from 50 per cent earlier, RBI told banks.

BHEL: State-run power equipment maker BHEL on Wednesday said it has fully commissioned the 330 MW Kishanganga Hydro-Electric Project in Jammu and Kashmir with the synchronisation of its third unit. The first two units of the project were commissioned last month. All the three units have been commissioned within a short span of 18 days, BHEL said in a statement.

Vedanta: Providing some relief for iron ore mining companies in Goa, the Supreme Court on Wednesday allowed transportation of ore from loading points on river jetties, while disposing a joint special leave application filed by Vedanta Resources and another local mining company.

Axis Bank: The private lender said the RBI has rejected bank's request for renewal of authorisation for gold import. The bank said RBI had informed it that its request for the authorisation for import of gold for the financial year 2018-19 cannot be acceded.

Essar Shipping: Essar Shipping, a group company of the Ruias-promoted Essar Steel, has filed an interim application in the Delhi High Court seeking the enforcement of a favourable arbitration award passed two years ago, citing a recent Supreme Court order. Essar Shipping stands to get about Rs 350 crore, which it aims to use for repaying unpaid debt of LIC of India, which has already initiated debt enforcement action against the company.

Adani Group: Adani Group on Wednesday announced foray into transport infrastructure with a Rs 1,140-crore highway project won by a consortium led by its holding firm in Chhattisgarh from the National Highways Authority of India (NHAI). The group’s flagship firm Adani Enterprises Ltd (AEL) has been exploring opportunities in the sector.