Indian markets broke a five-day winning streak on Tuesday as both benchmark indices – Sensex and Nifty50 – closed 1 percent lower, swept by metals and IT stocks. In the broader markets, mid and small caps fell 1-1.5 percent and Nifty Bank nearly 1 percent.
The market slipped on weak global signals and rising US bond yields ahead of the outcome of the US Fed FOMC meeting on Wednesday. In addition, news of increasing covid cases and lockdowns in major Chinese cities has sent negative signals to the market today.
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Stocks such as Punjab National Bank, JSPL, Metro Brands, Shriram City Union Finance, Godrej Properties, CEAT, Tech Mahindra, Zomato, Paytm, are likely to be in the spotlight on Wednesday.
Below are the five themes on which dozens of stocks are likely to have an impact on the company’s respective news and business actions.
Company Actions
The boards of the respective companies – Rail Vikas Nigam Limited, Alcargo and SAIL – will meet on Wednesday to discuss dividend.
Ex-date of Jindal Steel and Power Limited, Metro Brands and Shriram City Union Finance to pay interim dividend of Rs 1, Rs 1.5 and Rs 27 per share respectively on Wednesday.
DRC Systems ex-date to split its shares from Rs 10 to Rs 1 per share on Wednesday
investor meeting
Godrej Properties will attend the B&K Securities conference on Wednesday
Tech Mahindra meets Equirus Institutional on Wednesday
CEAT to attend Jefferies’ second mid-cap top on Wednesday
Sapphire Foods will also attend the Jefferies conference on Wednesday
Stocks in News
Zomato’s board approves the granting of a loan of up to $150 million to Blinkit (formerly Grofers). The company said this move is in line with its intention to invest up to $400 million in fast trading over 2 years.
Max Healthcare Institute: Ananya Tripathi resigns as Non-Executive, Non-Independent Director. Gaurav Trehan appointed additional director (non-executive)
PNB reports fraud of Rs 2,060 crore in NPA account of IL&FS Tamil Nadu Power Company
Paytm’s parent One 97 Communications said Softbank’s Munish Varma has resigned from the company’s board
Indiabulls Housing Finance Approves Founder’s Reclassification; Sameer Gehlaut, and companies to become public shareholders.
Global Events
The Fed’s two-day FMOC meeting kicks off today, with analysts forecasting a 25 basis point rate hike.
World court to rule on Russia-Ukraine war on Wednesday
London Metal Exchange to resume trading in nickel contracts from Wednesday
Economic indicators
IEA monthly report to be released on Wednesday
US Core Retail Sales and US Crude Oil Inventorys – these two reports will also be released on Wednesday
This post Shares in News: Watch out for Paytm, Zomato, PNB, JSPL, Metro Brands on Wednesday
was original published at “https://www.zeebiz.com/market-news/news-stocks-in-news-watch-out-for-paytm-zomato-pnb-jspl-metro-brands-among-others-on-wednesday-180969”
