A 25 bps rate hike by the US Federal Reserve along with a not so dovish statement by the Chair Jerome Powell sent the US stock market crashing to new lows Wednesday. Asian peers too followed suit and was trading lower in the early trade on Thursday. At 08:40 am, the Nifty futures on the Singapore Stock Exchange (SGX) traded 85 points or 0.77 per cent lower at 10,901, signalling a tepid opening for Nifty50
Here’s the list of key stocks that may remain in focus in today’s trading session –
Jet Airways: Aviation regulator DGCA is assessing the “health” of cash-crunched Jet Airways on a fortnightly basis following a financial audit of the carrier in August this year, according to a PTI report. That apart, the airline is returning eight Boeing 737 Max aircraft to its lessors and delaying induction of new planes following a cash crunch, Business Standard reported.
Pfizer, GSK Cosnumer: Pfizer Inc has entered into a joint venture (JV) agreement with GlaxoSmithKline Plc to create a global consumer company. However the entity will not include brands like Corex, Gelusil and Becosules and they will be continued to be marketed by Pfizer’s Indian arm in its respective territory, Bloomberg reported.
TCS: IT bellwether Tata Consultancy Services (TCS) on Wednesday unveiled a new private cloud in Canada to help enterprises move into the digital space. The platform also provides a software-defined approach to solve customer challenges and offers control over both physical and virtual environments.
Religare Enterprises: The company Wednesday said its subsidiary Religare Finvest (RFL) has lodged a criminal complaint with the Economic Offences Wing of the Delhi Police against promoters Malvinder Mohan Singh and Shivinder Mohan Singh. The complaint also names REL ex-CMD Sunil Godhwani, among other directors, for cheating, fraud and misappropriation of funds to the tune of Rs 7.40 billion.
Coal India: The coal miner seeks to buy coking coal mines in Australia and Canada. The state run-miner has identified “certain assets’, which are under different stages of due diligence, Coal Minister Piyush Goyal tells lawmakers in a written reply to questions.
Om Metals: The company has bagged Rs 6.15 billion EPC contract from water resources department, Government of Rajasthan.