The 50-share Nifty is likely to start higher Monday tracking strength in
Asian stocks. The Nifty futures on the Singapore exchange traded with
nearly 0.3 per cent gains.
Markets are likely to cheer the Shome committee recommendation to postpone the General Anti Avoidance Rules (GAAR) provisions by three years. The committee's recommendation to abolish capital gains tax on transfer of securities is also likely to help sentiments.
Auto stocks are likely to be in focus.
Here are the 10 stocks to track today.
1) Maruti Suzuki: Domestic car sales declined by 40 per cent year-on-year in August at 54,154 units, hit by a month-long lockout at its Manesar plant. Sales were down 34.1 per cent over July 2012.
2) Mahindra & Mahindra: The utility vehicle major has posted 21.6 per cent year-on-year higher sales (ex-tractor) in August at 45,836 units. However, sales were down 2.6 per cent over July 2012. The high margin tractor sales reported 17.3 per cent yoy decline at 13,234 units. Sales were down 19.9 per cent over July 2012.
3) Tata Motors: August sales were up 12.1 per cent yoy at 71,826 units. However, sales declined 2.3 per cent over July 2012.
4) Hero Moto Corp: India's biggest two-wheeler maker reported 11.9 per cent year-on-year decline in August at 4.4 lakh units. Sales were down 8.3 per cent over July 2012.
5) TVS : August sales were down 20.7 per cent yoy at 1.5 lakh units and down 4.6 per cent as compared to July 2012.
6) United Spirits: Vijay Mallya is expected to take a call on a proposed deal with Diageo within the next few weeks according to media reports. Mallya has been in talks with Diageo, the world's biggest spirits major, for the past eight months. Diageo could pay as much as Rs. 3,500 crore for up to 27 per cent stake in United Spirits, reports said.
7) JSW Steel: The respective boards of JSW Steel and JSW Ispat have given their nod for the merger of the two companies. JSW Ispat shareholders will get one share of JSW Steel for every 72 shares held. The company expects the merger to be complete before the end of the current financial year. Post the merger, this conglomerate will have a capacity of 14.2-million-tonne.
8) Essar Oil: The private sector refiner, which recently has decided to exit corporate debt restructuring, has said that there will be no extra hit that the company will have to take on the CDR other than the Rs. 300 crore that has already been provisioned for in the balance sheet. The CDR facility will be replaced with a new debt facility of about Rs. 9,400 crore on mutually acceptable commercial terms from its group of lenders.
9) JSPL: The private steel major has received forest clearance for Godda captive mines. The Godda project is a 660 MW power project. Separately, sources have told NDTV Profit that the company's coal mine licence in Jharkhand might be cancelled because of non-performance.
10) Jet Airways, SpiceJet: The sharp rise in ATF prices, which have gone up by 7.6 per cent, will hurt airlines. Jet fuel constitutes almost 40 per cent of an airline's operating costs.
(With inputs from agencies)
Markets are likely to cheer the Shome committee recommendation to postpone the General Anti Avoidance Rules (GAAR) provisions by three years. The committee's recommendation to abolish capital gains tax on transfer of securities is also likely to help sentiments.
Auto stocks are likely to be in focus.
Here are the 10 stocks to track today.
1) Maruti Suzuki: Domestic car sales declined by 40 per cent year-on-year in August at 54,154 units, hit by a month-long lockout at its Manesar plant. Sales were down 34.1 per cent over July 2012.
2) Mahindra & Mahindra: The utility vehicle major has posted 21.6 per cent year-on-year higher sales (ex-tractor) in August at 45,836 units. However, sales were down 2.6 per cent over July 2012. The high margin tractor sales reported 17.3 per cent yoy decline at 13,234 units. Sales were down 19.9 per cent over July 2012.
3) Tata Motors: August sales were up 12.1 per cent yoy at 71,826 units. However, sales declined 2.3 per cent over July 2012.
4) Hero Moto Corp: India's biggest two-wheeler maker reported 11.9 per cent year-on-year decline in August at 4.4 lakh units. Sales were down 8.3 per cent over July 2012.
5) TVS : August sales were down 20.7 per cent yoy at 1.5 lakh units and down 4.6 per cent as compared to July 2012.
6) United Spirits: Vijay Mallya is expected to take a call on a proposed deal with Diageo within the next few weeks according to media reports. Mallya has been in talks with Diageo, the world's biggest spirits major, for the past eight months. Diageo could pay as much as Rs. 3,500 crore for up to 27 per cent stake in United Spirits, reports said.
7) JSW Steel: The respective boards of JSW Steel and JSW Ispat have given their nod for the merger of the two companies. JSW Ispat shareholders will get one share of JSW Steel for every 72 shares held. The company expects the merger to be complete before the end of the current financial year. Post the merger, this conglomerate will have a capacity of 14.2-million-tonne.
8) Essar Oil: The private sector refiner, which recently has decided to exit corporate debt restructuring, has said that there will be no extra hit that the company will have to take on the CDR other than the Rs. 300 crore that has already been provisioned for in the balance sheet. The CDR facility will be replaced with a new debt facility of about Rs. 9,400 crore on mutually acceptable commercial terms from its group of lenders.
9) JSPL: The private steel major has received forest clearance for Godda captive mines. The Godda project is a 660 MW power project. Separately, sources have told NDTV Profit that the company's coal mine licence in Jharkhand might be cancelled because of non-performance.
10) Jet Airways, SpiceJet: The sharp rise in ATF prices, which have gone up by 7.6 per cent, will hurt airlines. Jet fuel constitutes almost 40 per cent of an airline's operating costs.
(With inputs from agencies)
