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SBI , ONGC Top Gainers, IDBI, Rolta, HDFC are Among Key Attractions Sensex Shows a High Start

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The Sensex and Nifty are higher on Wednesday tracking positive trend in Asian markets, which followed the lead from Wall Street after a bullish outlook from the head of the US central bank buoyed the US stocks. Tokyo shares rose to a one-month top and gold prices hit a one-year trough.

Market breadth, indicating the overall health of the market, turned positive. On the BSE, 858 stocks rallied, 457 stocks slipped, while 57 stocks remained unchanged.

At 7:45 am, SGX Nifty was trading at 11,056, up 31 points or 0.28 per cent. Japan’s Nikkei leapt out of the blocks with a 1 per cent gain as a weakening yen promised to fatten exporters’ profits. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.16 percent and South Korea’s market 0.85 percent.

Here are key stocks that are in focus today:

IDBI Bank: The board of IDBI Bank decided to seek the government’s decision on LIC’s proposal to acquire up to 51 per cent stake in the debt ridden bank. The board meeting took place a day after insurance behemoth LIC got approval of its board to increase its stake in the bank up to 51 per cent.

Rolta India: Rolta India entered into an agreement to implement a revised restructuring of its US$300,000,000 8.875 per cent Senior Notes Due 2019 and US$200,000,000 10.75 per cent Senior Notes due 2018 (together the Senior Notes) with an ad hoc committee (Ad Hoc Committee) of holders of its Senior Notes (Noteholders).

Tejas Networks: Tejas Networks announced that it has implemented a high-capacity 100G DWDM network for MCM Telecom in Mexico. MCM Telecom is a premier enterprise service provider offering corporate internet, unified communications, dedicated links, data center and hybrid cloud services.

HDFC Bank: HDFC Bank said it has raised Rs 8,500 crore by issuing over 3.9 crore shares on preferential basis to its parent HDFC Ltd. “The share allotment committee of the bank at its meeting held today has allotted 3,90,96,817 share to Housing Development Finance Corporation Ltd at an issue price of Rs 2,174.09 per equity share aggregating to Rs 84,99,99,98,871.53,” HDFC Bank said in a regulatory filing.

PNC Infratech: PNC Infratech  announced that the Company till date has secured total seven NH projects on Hybrid Annuity Mode for an aggregate Bid Project Cost of Rs. 9548.0 crore and concession agreements for all the seven projects were executed; four of which are under construction and three are under development

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