Stocks to watch: The domestic equity market is expected to open in negative territory on Wednesday, October 16. At 7:38 AM, the GIFT NIFTY futures were trading at 25,035.50 levels, down 18.50 points, or 0.07%, at 25,035.50 levels. This, as per publicly available information, suggests that the NIFTY50 will open 83 points lower.
On the global front, Asian equities fell on Wednesday after disappointing earnings from Europe's biggest tech firm, ASML, dragged chip stocks around the world, while expectations that the Federal Reserve will take a modest rate cut path propped up the dollar.
Tech-heavy South Korean stocks fell 0.6%, while chip stocks led Japan's Nikkei 1.8% lower. Taiwan stocks slipped 1.2%. That left MSCI's broadest index of Asia-Pacific shares outside Japan down 0.32%.
On Wall Street, US stocks closed down on Tuesday. The three major U.S. indexes ended the session in negative territory, with the S&P 500 and the Dow easing back from Monday's record closing highs.
Here is a list of stocks that are expected to trade actively today.
Results today: As many as 21 companies are slated to release their September quarter (Q2 FY25) results today. The list includes names such as Bajaj Auto, Crisil,
Himadri Speciality Chemical, L&T Technology Services, Mphasis,
South Indian Bank, and Pondy Oxides.
Cochin Shipyard: The government on Tuesday, October 15, said it will sell up to a 5% stake in
Cochin Shipyard at a floor price of ₹1,540 a share starting October 16. The government will divest 2.5% equity, or 65.77 lakh shares, with an option to sell an additional 2.5%. The floor price is at a discount of close to 8% over Tuesday's closing price of ₹1,672.
Adani Green: Adani Green Energy has, as per news reports, deferred its $1.2 billion IG-rated offering to after the US elections on account of weak market conditions. The deal would now be executed after the US elections and is expected to be lapped up by investors on account of its attractive credit highlights, said a report by NDTV Profit.
Vedanta, Adani Power: Shares of the companies are expected to be in focus today as, according to a report by The Economic Times, power producers Adani Power, Naveen Jindal's Jindal Power, commodities company Vedanta Group, and others are among seven companies that have made a formal bid to take over the distressed 1,350 MW Sinnar Thermal Power Ltd.
Cipla, Alkem Laboratories: Pharma companies, Cipla and Alkem Laboratories, have emerged as the frontrunners to acquire a controlling stake in Sahajanand Medical Technologies (SMT), India’s largest cardiac stent maker, according to a report by The Economic Times.
KEI Industries: The company's standalone net profit rose 11% year-on-year in the September quarter (Q2) of the current financial year, missing analysts' expectations, as per news reports.
Its revenue rose 17% to ₹2,280 crore from ₹1,945 crore in the corresponding quarter of the previous fiscal.
PNC Infratech: The company said it has received Letters of Acceptance from the Maharashtra State Road Development Corporation (MSRDC) for two major Engineering, Procurement, and Construction (EPC) road projects. The contract, with an accepted amount of ₹2,268 crore (exclusive of GST), will have a construction period of 30 months, as per reports.
RailTel: The company has received an order from the Maharashtra Housing and Area Development Authority. The size of the order is ₹79.8 crore.
ONGC: The company has increased its shareholding in its subsidiary, ONGC Petro Additions Limited (OPaL), from 91.16% to 94.04%.
SpiceJet: Budget carrier
SpiceJet on Tuesday said it has successfully settled a $23.39 million dispute with two aircraft lessors - Aircastle and Wilmington Trust, days after amicably resolving a similar dispute with a US-based aircraft leasing firm, BBAM.
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