Roongta Rising Stock Pvt. Ltd

Stocks in focus

Index heavyweights like HDFC, Lupin and Ranbaxy Labs will report their earnings today. In the midcap space, shares of SKS Microfinance, Corporation Bank, Piramal Life, Future Retail, Jubilant Industries, KEC International, Orient Paper, Talwalkar, Simplex Realty, Sudaram Clayton and Triveni Engineering will also announce their quarterly earnings.

Shares of Oracle Financial Services dropped more than 5 percent after promoters of the company announced plans to sell stake via offer for sale to meet shareholding norms of 75 percent. Oracle Global Mauritius holds 80.3% stake in the company.

UCO Bank disappointed the street with its quarterly earnings. The stock was down 3 percent after bank's net profit slumped by 75 percent to Rs 49.5 crore from Rs 253 crore a year earlier.

Dewan Housing Finance surged more than 6 percent as company's topline and bottomline shot up by more than 100 percent to Rs 1727 crore and Rs 197 crore respectively.

The Indian rupee opened with 8 paise gains at 54.05 per dollar on Wednesday as against previous day's closing of 54.13 per dollar. Himanshu Arora of Religare feels the rupee is likely to strengthen against the dollar on surging inflows.

Economy News

4 RBI allowed banks which exceed the target of opening branches in rural areas in a year to carry forward the additional number to the next fiscal. (BL)

4 Amid a steep fall in gold prices recently and the resultant risks to the system, RBI has further tightened screws on gold loans by banks, restricting them to finance import of the precious metal only for gold jewellery exporters. (BS)

4 India's energy sector is preparing for a new regime for natural gas pricing and distribution with fresh norms for allocating the scarce resource and revised prices that makes the business attractive enough for companies to commit risk capital and boost output. The government proposes to grant the fuel-starved power sector the same priority as fertilizer plants for supply of depleting domestic gas. (ET)