Domestic stock indices are likely to trade cautiously on Thursday, bearing in mind signals from their global counterparts. Asian stocks were mixed, while US stock futures fell on concerns about a recession.
Trends on SGX Nifty pointed to a slightly higher open for the home markets. The Nifty Futures on the Singapore Exchange, also known as the SGX Nifty Futures, rose 43.50 points or 0.28 percent to 15,821.
30-share BSE Sensex was down 150 points, or 0.28 percent, on Wednesday to close at 53,027, while the broader NSE Nifty had moved 51 points, or 0.32 percent, lower to 15,799.
Here are stocks to watch during today’s session:
infosys: The IT major said it would invest $10 million in US The House Fund III, LP, a Venture Capital (VC) fund. The investment is expected to close on June 30, 2022, and is a minority interest of no more than 20 percent of the fund size.
Biocon: The company said it would acquire a 26 percent stake in AMPYR Renewable Energy Resources Eleven Pvt Ltd (AREREPL) for Rs 7.5 crore. AREREPL is a special vehicle for the generation and delivery of solar energy.
Tata Steel: The steelmaker has plans to pump in about Rs 1,200 crore as part of its drive to “enter materials beyond steel,” Tata Steel Vice President, Technology & New Materials Business, Debashish Bhattacharjee told PTI news agency.
Minda Industries: The company has acquired a 5.24 percent stake in FRIWO AG, Germany. The company has bought 4,48,162 shares or a 5.24 percent stake in FRIWO AG by investing 14.99 million euros.
Indian oil company: The company has granted investment approval for capacity expansion of the Digboi refinery in Assam from 0.65 MMTPA (million metric tons per year) to 1 MMTPA, along with associated facilities, at an estimated cost of Rs 740.20 crore. The IOC expects the project to be commissioned in October 2025.
Furthermore, Sun TV is today the only stock in the F&O (Futures and Options) Prohibition Period.