MARKETS LIVE: Public sector banks in focus on capital infusion approval


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The domestic equities are likely to take cues from the minutes of the January Federal Reserve meeting, which were released on Wednesday. Fed officials signaled they will soon lay out a plan to stop letting go of $4 trillion in bonds and other assets and said they expect to keep rates steady for now but left room for hikes later if conditions improve.

Stocks to watch

Public sector banks: The government on Wednesday approved a capital infusion of Rs 48,239 crore into 12 public sector banks (PSBs), with the largest chunk of money flowing into Allahabad Bank and Corporation Bank to help them come out of the Reserve Bank of India’s (RBI’s) prompt corrective action (PCA) framework.

Reliance Industries (RIL): Saudi Aramco’s Chief Executive Officer Amin Nassar said on Wednesday that the company is in talks with India’s Reliance Industries for possible investments and is seeking other opportunities in the country.

Tech Mahindra: The company’s board is likely to consider a proposal to buyback the fully paid-up equity shares of the company. 

Coal India: Markets regulator Sebi on Wednesday exempted state-owned Coal India from complying with regulations with regard to its proposed buyback programme for 4.46 crore shares.

Shriram Transport Finance: The company on Wednesday raised $400 million from international markets at a coupon of 5.7 per cent, said a Business Standard report. 

Global markets 

Buoyed by the Fed’s affirmation that it would be “patient” on interest rate rises, Asian shares were firm on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan were steady in early trade, hovering just off their highest since early October.

US stocks ended moderately higher in the overnight trade.

(with Reuters input)


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