Sun Pharma, IOB and Ruchi Soya among top stocks to track today

NEW DELHI: The domestic equity market is likely to open in the red on Wednesday, tracking Nifty futures on the Singapore Stock Exchange (SGX). At 08:15am, Nifty futures on the Singapore Stock Exchange were trading 22 points, or 0.20 per cent, lower at 10,824.50, indicating a negative start for the Nifty50. Here is a list of stocks that are likely to be in focus in today's trading session:

Sun Pharma: This stock will be in action on Wednesday after USFDA gave EIR to the drugmaker’s Halol manufacturing facility in Gujarat, bringing to an end a two-year import ban it had imposed over quality control issues.

Indian Overseas Bank: Hong Kong regulator has upped supervision on the bank's branch in Hong Kong.


Fortis Healthcare: Investigations by law firm Luthra & Luthra have found movement of funds by Fortis Healthcare’s promoters through inter-corporate deposits made by the company’s subsidiary Fortis Hospitals into three entities.

Ruchi Soya: Adani Wilmar has emerged as the highest bidder for bankrupt Ruchi Soya, trumping Ramdev-backed Patanjali Ayurved.

Bhushan Steel: Liberty House, a late entrant in the race for Bhushan Power & Steel, has sought a week to firm up commitments from its bankers to back its financial bid for the bankrupt company.

Bharti Airtel, Idea Cellular: Reliance Jio has revised its tariff plans to offer an additional 1.5 GB data per day to customers recharging their data packs till June end. This was in response to pricing moves by rival Bharti Airtel.

RIL, Alok Industries: ET reported that the sole bidder for Alok Industries RIL-JM may get the company at a throwaway price after new amendment of the bankruptcy law and a court ruling on fresh round of voting. RIL's JM's offer of Rs 5,050 crore would translate to an 83 per cent haircut for lenders.

InterGlobe Aviation: As controversies raise questions over functioning of airlines in India, country’s largest carrier IndiGo has, for the first time, hired an executive to head the ethics and compliance department.

KPIT Technologies: Kotak Securities has maintained sell rating onthe stock with a revised target price of Rs 254. The brokerage has maintained the rating due to expensive valuation.

Unitech: Consolidated losses at the realtor widened to Rs 999.8 crore for the March. This is even as total income soared two fold to Rs 977.5 for the quarter. What hurt was operational expenditure and an exceptional item of Rs 928 crore.

Edelweiss Financial Services: Edelweiss is set to raise $1.6 billion to invest in stressed assets, with $600 million of it coming from Canadian pension money manager Caisse de Dépôt et Placement du Québec (CDPQ).