The key benchmark indices snapped its four-day losing streak on Tuesday with mid-cap and small-cap stocks outperforming on the back of strong investor demand. On Wednesday, the markets are likely to open higher given the supportive cues from global markets. Meanwhile, here the top stocks to focus in trade on Tuesday.
Vedanta: An open offer from the promoters of Vedanta led to a sharp turnaround in price on Tuesday on high volumes when TwinStar Holdings and Vedanta Netherlands – both promoter entities – offered to buy 4.57 per cent stake (about 170 million shares) at an indicative price of Rs 350 per share. However, analysts expect the price rise to be temporary as prices of aluminium, copper, steel, natural gas, crude oil, etc are all down in the past month. READ MOREMacrotech: The second largest listed realty player by market capitalisation, Macrotech Developers (Lodha) raised Rs 4,000 crore last week via the qualified institutional placement route. The company plans to use the funds to grow in the under-represented micro markets of Mumbai Metropolitan Region and Pune. Here are some of the key factors that may work in favour of the stock going ahead. READ MORE
Dish TV: Dish TV has urged the National Company Law Tribunal (NCLT) to dismiss the petition filed by its largest shareholder Yes Bank India Ltd, which is seeking to convene EGM of the Direct-to-Home service provider. READ MOREBharti Airtel: Moody’s Investors Service has revised Bharti Airtel and its subsidiary Bharti Airtel Int’l (Netherlands) BV’s ratings outlook to positive from stable. “The outlook change to positive reflects Bharti’s improving operating performance and credit metrics which, if sustained, could support an upgrade to investment grade within the next 12-18 months,” Moody’s said. READ MORELatentView: After a bumper listing on Tuesday, get to know what lies ahead for the stock and the company’s growth plans. Read excerpts of an interview with Raja Sethuraman here. READ MOREReliance: Ratings agency Moody’s Investors Service said that the reevaluation of the decision to sell a 20 per cent stake in the company’s oil-to-chemical business to Saudi Aramco will not impact the firm’s credit quality, Moody’s Investors Service said Tuesday. READ MORESiemens: The company is scheduled to announce its September quarter results today.
Radhe Developers: Company’s board to meet on November 26 to consider a proposal to raise funds via various options, including rights issue, preferential issue of equity shares.
Indian Metals & Ferro Alloys: The company’s board is scheduled to meet on November 26 to consider a proposal for bonus issue.
Poonawalla Fincorp: Informed the exchanges that Sanjay Chamria Executive Vice Chairman and part of the founding team has stepped down from the company.
Future Enterprises: Ratings agency Brickwork Ratings India has downgraded the credit rating on select non-convertible debentures of the company from ‘BWR C’ to ‘BWR D’.
Ashiana Housing: Informed the exchanges that ratings agency CARE Ratings has re-affirmed the company’s credit rating at CARE A, with outlook stable.
Stocks in F &O ban: Escorts and Voda Idea are the only two stocks in F&O ban today.