Markets may continue to be volatile; HDFC, PSU stocks in focus
By Administrator_ India
Markets are expected to be largely volatile on Wednesday, while trends in SGX Nifty suggest a weak opening of Indian benchmark indices. On Tuesday, the BSE Sensex closed at 50,637.53, down 14.37 points or 0.03%. The Nifty was at 15,208.45, up 10.75 points or 0.07%.
Asian stocks were largely steady Wednesday after softer economic data weighed on US equities. In Southeast Asia, markets in Indonesia, Singapore and Thailand are closed for a holiday on Wednesday.
Shares fluctuated in Japan and climbed in Hong Kong. Chinese equities edged up after surging the most since July on Tuesday.
The Union government is in the process of granting greater autonomy to central public sector enterprises, allowing them to be professionally run and giving them a greater say in making business decisions to help them compete with private-sector rivals on an equal footing.
HDFC Ltd on Tuesday said it will raise up to ₹7,000 crore by issuing bonds on private placement basis. The base issue size for the secured redeemable non-convertible debentures (NCDs) is ₹5,000 crore with option to retain an oversubscription of up to ₹2,000 crore, HDFC said in a regulatory filing.
Bharat Petroleum, Berger Paints (India), Pfizer, Cummins India, Burger King India, Karur Vysya Bank and Karnataka Bank, will announce their March quarter results today.
Sun Pharma Advanced Research Company (SPARC) on Tuesday said Dilip Shanghvi has resigned as managing director of the company. Shanghvi expressed his desire to step down and tendered his resignation as the MD with immediate effect, which was accepted by the board, SPARC said in a regulatory filing. Shanghvi will, however, continue to be associated with the company’s board in his capacity as a non-executive director and chairman, it added.
