HCL Tech, Idea Cellular among key stocks in focus on Tuesday
HCL Technologies said its board is scheduled to meet on July 12 to consider a proposal for buyback of equity shares. The announcement comes within a month of Tata Consultancy Services, the country’s largest software exporter, declaring a Rs 16,000-crore share buyback programme.
The Sensex and Nifty are expected to open higher as hopes for upbeat corporate earnings buoyed Wall Street, while several high-profile resignations from Britain’s government kept sterling on the defensive. At 7:50 am, SGX Nifty was trading at 10,904.50, up 34.50 points or 0.32 per cent.
MSCI’s broadest index of Asia-Pacific shares outside Japan put on 0.2 per cent in early trade, adding to a 1.3 per cent rise on Monday. Japan’s Nikkei climbed 0.8 per cent and South Korea 0.6 per cent, while E-mini futures for the S&P 500 firmed 0.1 per cent.
Sentiment has been soothed by a bounce in Chinese shares which saw Shanghai blue chips climb 2.8 per cent on Monday for the biggest daily jump since August 2016.
Here are key stocks that are buzzing in trade today:
HCL Technologies: HCL Technologies said its board is scheduled to meet on July 12 to consider a proposal for buyback of equity shares. The announcement comes within a month of Tata Consultancy Services, the country’s largest software exporter, declaring a Rs 16,000-crore share buyback programme.
Idea Cellular: The telecom ministry approved the merger of Vodafone India and Idea Cellular that will create the country’s largest mobile services operator, an official source said. The Department of Telecom has cleared the Vodafone-Idea merger today, but both companies will have to meet conditions for final approval, the official told PTI.
SRF: SRF announced the setting up of a second Bi-axially Oriented Polyethylene Terephthalate (BOPET) film line and a Resin plant in Thailand at an investment of approximately US$ 60 million. This new plant will be put up at our existing manufacturing location in Rayong, Thailand by our wholly owned subsidiary - SRF Industries (Thailand) and is expected to become operational in close to two years.
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PNC Infratech: PNC Infratech has been declared the L1 (lowest) bidder in the following two contiguous packages of Lucknow - Ghazipur Six Lane Access Controlled Purvanchal Expressway Project in the state of Uttar Pradesh for an aggregate quoted value of Rs. 2520.00 crore.
Gayatri Projects: Gayatri Projects has been declared as L-1 bidder for Development of Purvanchal Expressway Project (Package-I) value at Rs 1483 crore and Development of Purvanchal Expressway Project (Package-II) value at Rs 1276 crore.