(RTTNews) - Tuesday, 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.
Currently, the benchmark Sensex is trading at 16,259, up 22 points or 0.13% and the Nifty is at 4,861, up 0.10%.
Religare Enterprises (Rs.378, up 2.75%) - The financial services firm plans to invest $1 billion in diversified asset management businesses globally.
Fame India (Rs.90.75, up 4.97%) - The Anil Ambani Group firm Reliance MediaWorks has approached market regulator SEBI, seeking a probe into the sale of Fame India to Inox Leisure at a price much lower than it had offered.
Inox Leisure (Rs.75.35, down 3.89%) - The multiplex operator said that Reliance MediaWorks's allegations on share sale between Fame and Inox are baseless, untrue and misleading.
The auction of spectrum for advanced 3G mobile services will begin by the end of this week, telecom minister A Raja said on Monday. Bharti Airtel is up 0.74%, Reliance Communication is rising 0.28% and Idea Cellular is up 0.45%.
Lending rates are likely to be stable in the next 5-6 months because of the slow credit offtake, state-run SBI's chairman OP Bhatt said on Monday. He also said that the proposed base rate, which will replace the existing Benchmark Prime Lending Rate from April 1, could be around 8 percent for the bank. SBI is up 0.78%, ICICI Bank is gaining 0.76% and HDFC Bank is trading flat with a positive bias.
NMDC (Rs.444.70, up 0.50%) - The state-run mining giant may buy a 50% stake in Ferrous Resources's Brazilian operations for $2.5 billion.
Wockhardt (Rs.152.20, down 0.26%) - Overseas lenders, including the U.S-based investor fund QVT have proposed an alternative debt restructuring plan to the cash-strapped drugmaker.
Power Grid Corporation (Rs.106.65, down 0.33%) - The state-run power transmission utility expects its follow-on public issue to hit the capital market by September.
