Stocks To Watch: Airtel, Future Retail, GAIL India, Dr Reddy's
New Delhi: The domestic stock indices are likely to trade lower on Wednesday taking cues from the global markets. Asian stocks slipped following a mixed Wall Street session as higher U.S. Treasury yields weighed on global tech firms and pushed the dollar to a five-year high against Japan's yen. Trends on SGX Nifty indicated a negative opening for the markets back home. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 42.15 points or 0.24 per cent to 17,813.
The benchmark BSE Sensex had surged 673 points or 1.14 per cent to close at 59,856 on Tuesday, while the broader NSE Nifty had settled 180 points or 1.02 per cent higher at 17,805.
Here Are Stocks To Watch During Today's Session:
Bharti Airtel: The telecom major said its scheme for a new corporate structure -- announced on April 14, 2021 -- has been "withdrawn" as the board is of the view that its existing structure is optimal for tapping emerging opportunities and unlocking value while scaling up digital businesses.
Future Retail: The Delhi High Court has dismissed Future Retail's plea to declare arbitration proceedings with its warring partner Amazon as illegal. The ruling came after Future urged the court that given India's antitrust agency had suspended a 2019 deal used by Amazon to assert rights over Future, there was no legal basis for the arbitration between the two sides to continue.
GAIL India: The state-owned gas utility has said it has completed the acquisition of bankrupt Infrastructure Leasing and Financial Services' (IL&FS) 26 per cent stake in ONGC Tripura Power Company (OTPC).
HUL: FMCG distributors have suspended their boycott of certain brands of HUL in Maharashtra after talks with the company over issues of price disparity between the traditional distributors and organised business-to-business channel.
Dr Reddy's: Dr Reddy's Laboratories has said it will launch Molflu (Molnupiravir) at Rs 35 per capsule to treat Covid-19 in the country.
