Stocks To Watch: L&T, JSW Steel, Tata Tele, Vodafone Idea

Trends on SGX Nifty indicated a positive opening for the domestic markets.

New Delhi: The domestic stock indices are likely to trade higher on Wednesday taking cues from the global markets. Asian shares were trading in green as Japan’s Nikkei gained 1.86 per cent, South Korea’s KOSPI was up 1.44 per cent and the Shanghai Composite index moved 0.35 per cent higher. Trends on SGX Nifty indicated a positive opening for the markets back home. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures rose 139.70 points or 0.77 per cent to 18,224.80.

The benchmark BSE Sensex had jumped 221 points or 0.37 per cent to close at 60,616 on Tuesday, while the broader NSE Nifty had settled 52 points or 0.29 per cent higher at 18,056.

Here Are Stocks To Watch During Today’s Session:

Larsen & Toubro: L&T said that its heavy engineering arm has dispatched two large ethylene oxide reactors, weighing 1,200 tonnes each, from Hazira, Gujarat to a large petrochemical complex overseas.

JSW Steel: The steel major has posted a 28 per cent year-on-year growth in group combined steel production at 5.35 million tonnes (MT) during the quarter ended December 30, 2021.

Vodafone Idea: Shares of Voda Idea had dropped on Tuesday after its board approved a rescue plan that gives almost a 36 per cent stake to the government in lieu of past dues and makes it the largest shareholder in the unprofitable wireless phone operator. The stock will be keenly watched by investors today.

Tata Teleservices: The government will get a 9.5 per cent stake in Tata Teleservices as the company announced that it has decided to opt for converting the interest on the deferred spectrum and adjusted gross revenue (AGR) liabilities into equity. Tata Tele has become the second company to do so after Vodafone Idea.

Before this, Bharti Airtel had decided not to convert the interest on deferred spectrum-related payments and government dues into equity.

Federal Bank: Federal Bank subsidiary Fedbank Financial Services Ltd (FedFina) has initiated the process of an initial public offering (IPO).

Meanwhile, IT majors TCS, Wipro and Infosys will announce their third-quarter (Q3) results later in the day.

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