However, with a change in guard in the finance ministry, markets anticipate that there might be some urgency to kick start stalled reforms and cut down on India’s twin deficits. These steps will certainly raise foreign investors’ confidence in Indian markets.
Here the stocks to track today.
1) Reliance Infra, Tata Power: Shares in these power utility firms were the top gainers today on the back of the go ahead from the Delhi Electricity Regulatory Commission (DERC) to hike power tariffs, effective from July 1. (Read more)
2) MindTree: Brokerage firm Jefferies has raised its target price in the mid-cap IT firm to Rs 740 saying margins are likely to trend up.
3) Bajaj Auto: Credit Suisse has maintained a neutral rating on the stock but upgraded the target price to Rs 1,776. Near term earnings are under pressure due to mix, and there are headwinds in both domestic business and exports, it said. The brokerage has reduced its FY13 earnings estimates by 5%.
4) Gujarat NRE Coke: It has allotted Rs 105.4 crore convertible warrants to its promoter group company. The warrants are convertible into equity shares of Rs 21.08 each, the company said.
5) SAIL, Tata Steel, JSW Steel: An inter-ministerial panel will review steel projects on July 9, according to reports.
6) Godrej Properties: The Mumbai-based realty firm has launched premium residential project 'Godrej Serenity' in Chembur, which will compromise of 3 & 4 BHK luxury apartments.
7) Jaiprakash Associates: The infra major is likely to sell its Gujarat plant with 5 MT capacity. A deal with the AV Birla Group is likely in the next 10-15 days, reports said.
8) Kingfisher Airlines: Lessors have taken back 32 planes over nonpayment of rentals, according to reports. The company has defaulted on a payment of Rs 1,000 crore to the lessors, reports said.
9) United Phosphorus: Canadian potash producer Potash Corp of Saskatchewan is likely to buy around 20% stake in the company according to market buzz.
10) Marico: The FMCG firm is likely to register double digit growth in volumes according to market buzz.
Disclaimer: Some of the information is based on the buzz in the stock market and on secondary information. Readers should use discretion before using the information.