Wednesday, the following stocks are in the spotlight in the Indian market due to stock or sector-specific news or reports. Stock prices are taken from the BSE, unless stated otherwise.
The 30-share Sensex average is currently trading firm at 18,096, up about 125 points or 0.71% and the 50-share Nifty is adding 33 points or 0.61%.
SBI associated banks such as State Bank of Mysore (up 5.36%), State Bank of Bikaner and Jaipur (up 5.28%) and State Bank of Travancore (up 4.32%) are rallying on speculation surrounding their merger with parent bank SBI.
Reliance Broadcast Network is locked at the 5% upper circuit limit ahead of a board meet today to consider a preferential allotment of equity shares.
Adani Power (Rs.137.40, up 1.07%) - The company plans to invest about Rs.82,500 crore to increase its capacity almost 17-fold to 16,500 megawatts in the next four years, the Bloomberg quoted Chief Executive Officer Ravi Sharma as saying in a telephone interview.
Sayaji Hotels (Rs.111, up 1.74%) - The company is issuing 15 lakh fresh equity shares and 18 lakh fresh convertible warrants to promoters at Rs 125 each.
Bilcare (Rs.542.50, up 0.62%) - The German unit of the company has successfully acquired INEOS Group's global business.
Colgate Palmolive (India) is posting a modest half a percent gain after it received approval from the High Court for a scheme of amalgamation with CC Health Care Products.
Natco Pharma (Rs.262.90, up 4.70%) - The drugmaker sought the U.S. FDA approval to sell lenalidomide capsules in the American market.
Idea Cellular (up 0.5%), Bharti Airtel (up 2.37%) and Reliance Communication (up 2.56%) - The government will start allotting the 3G spectrum to successful bidders today.
Kalpataru Power Transmission (Rs.1,000, up 1.49%) - The company fixed September 9 as the record date for a 5-for-1 stock split.
Likewise, shares of JVL Agro Industries are climbing almost 5% after the company proposed to consider a stock split.
Bajaj Electricals (Rs.295, up 2.13%) - The company's EPC division has bagged new prestigious orders worth over Rs.408 crore to construct 312 km of 400 KV double-circuit transmission lines under the Rajiv Gandhi Gramin Vidhyutikaran Yojna scheme.
Tata Communications (Rs.339.85, up 2.24%) - The company has opened its state-of-the-art Tata Communications Exchange (TCX) data centre in Singapore to meet the growing IT outsourcing needs of enterprises in the Asia-Pacific region.
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