Titan, ICICI Bank among 8 stocks hogging limelight in Friday's trade

The Sensex and Nifty are expected to open higher on Friday as Asian markets recovered, but remained near nine-month lows despite small gains on Wall Street overnight, as ongoing concerns over global trade frictions dampened sentiment, though a move to ease foreign investment curbs in China could boost markets there.

At 7:50 am, SGX Nifty was trading at 10,597.50, up 23 points or 0.22 per cent.

MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, Australian shares were 0.1 percent higher, while Japan’s Nikkei stock index was down 0.2 percent.

Stocks on Wall Street posted small gains on Thursday, helped by financial and technology shares, but broader market sentiment remained subdued on lingering concerns over U.S.-driven trade tensions.

The Dow Jones Industrial Average rose 98.46 points, or 0.41 percent, to 24,216.05, the S&P 500 gained 16.68 points, or 0.62 percent, to 2,716.31, and the Nasdaq Composite added 58.60 points, or 0.79 percent, to 7,503.68.

Here are key stock that will remain in focus today:

Titan Company: Ace investor Rakesh Jhunjhunwala sold 2.67 per cent stake in Titan Company between May 22 and June 28. Jhunjhunwala and eight other connected entities offloaded around 12.5 million shares for around Rs 10.8 billion, accordinmg to a disclosure made to BSE. Before selling, Jhunjhunwala & Family held 8.78 per cent in Titan, now Hold 7.37 per cent in the company. 

IDBI Bank: Reports say IRDA will conduct a board meeting on Friday to discuss a possible easing of rules to facilitate IDBI Bank sale to LIC. For now, LIC can hold not more than 15 per cent in companies. This rule could be eased in the meeting later today.

Vedanta: Vedanta Ltd on Thursday said it plans to raise up to Rs 1,500 crore through issuance of non-convertible debentures (NCDs). "The company proposes to offer rated, secured, redeemable, non-cumulative, non-convertible debentures aggregating up to Rs 1,500 crore in one or more tranches," Vedanta Ltd said in a BSE filing. 

Fortis Healthcare: The date for submission of the bids have been revised to Tuesday, July 3.

Kalpataru Power: Kalpataru Power Transmission Limited (KPTL) said it has secured new orders worth ₹ 1,235 crore. These include order for railway infrastructure construction from Bangladesh Railways in a Consortium wherein KPTL’s share is Rs 553 crore, a company statement said.

ICICI Bank: ICICI Bank today said it has appointed Walker Chandiok & Co as statutory auditors of the bank as the term of the previous auditor expired. B S R & Co LLP, Chartered Accountants, the statutory auditors of the bank for the past four consecutive years will retire at the conclusion of the 24th Annual General Meeting on completion of the maximum period of four consecutive years as per prevailing RBI guidelines, ICICI Bank said in a regulatory filing to stock exchanges.

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Punjab National Bank: State-owned Punjab National Bank (PNB) sold 3.33 percent stake in rating agency Icra for nearly Rs 109 crore, through open market transactions on Thursday.

Wipro: Wipro, the country's third largest IT services firm, today said it has completed the divestment of its data centre business in Germany and the UK along with Wipro Data Centre and Cloud Services, Inc for a consideration of USD 399 million.