HDFC, Jindal Steel, ICICI Bank in Focus Today - NDTV

NDTV | Updated On: March 30, 2015 08:40 (IST)

The Nifty is likely to open higher on Monday as indicated by futures trade on Singapore Stock Exchange. Foreign investors were net sellers to the tune of Rs 321 crore on Friday in the cash market and domestic investors were net buyers to the tune of Rs 675 crore. Trading volume moderated on Friday. Cash segment registered volume of Rs 21,413 crore (down 19.7% from Thursday's volume) and derivative segment registered a volume of Rs 2.08 lakh crore (down 73% from Thursday's volume).

Here are the stocks to track in trade today:

1. HDFC: As per a news report HDFC Standard Life, the insurance venture of HDFC may soon come up with an initial public offer (IPO) for 10 per cent stake to raise around Rs 2,400 crore. HDFC currently holds 73.05 per cent stake in its insurance venture. Ahead of the IPO, HDFC is likely to sell some stake to Standard Life and to some private equity investors, the report added.

2. Jindal Steel: The Delhi High Court has ordered Coal India to be the interim custodian of the three coal blocks for which the government had rejected Jindal Steel and Balco's bids. Coal India will operate the mines and dispose coal from April 1. Coal India will operate the mines till next date of hearing on April 13.

3. Bharat Petroleum Corporation is shutting its Bina refinery in Madhya Pradesh which has a refining capacity of 120,000 barrels per day for about a month for routine maintenance.

4. Grasim Industries: As per a news report the company will invest nearly Rs 100 crore to develop its first brand and the brand will reach over 50 cities and 1000 outlets.

5. ICICI Bank: As per a news report the bank is likely to raise Rs 2,200-Rs 2,400 crore through sale of infrastructure bonds.

6. Union Bank of India has deferred its plan to raise Rs 1,386 crore through qualified institutional placement (QIP) to the next fiscal.

7. Tata Motors: The company has approached underwriters for its upcoming rights issue and has hired 8 investment banks for the rights issue.

8. Fortis Healthcare has decided to sell 100 per cent stake in Fortis Healthcare Singapore to Concord Medical Services for SGD 55 million. The deal is expected to be complete around April 06, 2015.

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