Share Market News August 19: BPCL, Tejas Networks, GIC Re other stocks to track on Monday
Amid mixed Asian markets, Indian equities as indicated by positive GIFT Nifty will likely open on a positive note.
Stocks to watch: At around 7:30 am, GIFT Nifty futures traded higher by 0.35 per cent or 85 points at 24,6707.5, indicating a positive opening on the D-Street. Indian equities in Friday's session ended sharply higher as rate cut hopes by the Fed were strengthened after the latest retail sales data in the US. Here are the stocks that will remain in focus today.
Shriram Finance
Jefferies has maintained its buy stance on Shriram Finance with a raised target of Rs 3,600.
BPCL
The company plans investment worth Rs 1.7 lakh crore over the next five years for growing its core oil refining and fuel marketing business together with 'future big bets' of petrochemicals and green energy, its chairman G Krishnakumar has said.
Tejas Networks
The company has informed that NewSpace India Limited has accepted the proto terminals (Xponders), has issued the bulk production clearance to Saankhya, and the provisional purchase order has been converted to final purchase order. Sannkhya is the subsidiary of Tejas.
GIC Re
The centre may take the OFS route for offloading stake in the reinsurance company.
Oil companies
Oil companies will be in focus after the centre has slashed the windfall gains tax on crude oil to Rs 2,100 per tonne from 2,400 per tonne.