We list out various triggers that can influence specific stocks through the day
Tata Power: The country’s largest integrated power utilities company looks set to acquire the renewable energy assets of the diversified Welspun Group, valuing the 1,152 mw portfolio of operational and almost ready solar and wind farms at close to $1.45 billion inclusive of debt, Economic Times reported. Both sides are in final stages of negotiations and hope to sign a definitive share sale agreement in the next 2-3 weeks to conclude the largest buyout in the sector save any last minute hiccups.
Colgate-Palmolive: Amid aggressive growth of Baba Ramdev’s Patanjali Ayurveda in the oral care segment, market leader Colgate-PalmoliveBSE 0.92 % has sat up and taken note. Ian Cook, global CEO of the US multinational, has for the first time acknowledged competition in the herbal segment in India and said Colgate plans to launch newer products in the ‘natural’ space.
SBI, SBT, SBBJ: The government will nudge State Bank of IndiaBSE -0.64 % towards actively consider merging its five associate banks. The government is looking to push consolidation among state-owned lenders and has set up a committee to identify candidates for mergers and acquisitions. Two of the five associate banks – State Bank of Patiala and State Bank of Hyderabad – are still unlisted. SBI holds a 75 per cent stake in State Bank of BikanerBSE -1.35 % & Jaipur,90 per cent in State Bank of MysoreBSE 0.51 % and 79 per cent in State Bank of TravancoreBSE -0.05 %.
ACC, Ambuja, UltraTech: The country’s top three cement producers — Ultratech CementBSE -0.14 %, ACCBSE -0.41 % and Ambuja CementsBSE -0.41 % — are expecting a revival in cement demand during the current financial year. The companies, which have finished reporting their fourth quarter earnings, project a 6-8 per cent growth in cement demand during the year, compared with about 3 per cent rise in the previous year.
ICICI Bank: Stock of the largest private lender continues to face pressure after it reported a 24 per cent rise in gross non-performing assets (NPAs) to Rs 26,221 crore in March quarter from Rs 21,149 crore at the end of the December quarter. Gross bad loans as a percentage of all loans rose to 5.82 per cent from 4.72 per cent in the corresponding quarter last year.
Axis Bank: This counter too will remain in focus after the bank saw its gross NPAs increase to 1.67 per cent of the total in the March quarter from 1.34 per cent a year before. With the rising pressure on asset quality, domestic private lender had to set aside a higher amount of provisioning.