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Fortis, Infosys, IDBI Bank, Manpasand Beverages & Voltas are Expected to Have Action Packed Stock Trading

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The Sensex and Nifty are expected to open lower on Wednesday tracking negative trend in Asian markets as weakness in Chinese stocks and the yuan weighed on sentiment, while oil held hefty gains as the United States pressured allies to stop buying Iranian crude.

At 7:50 am, SGX Nifty was trading at 10,748, down 13 points or 0.12 per cent.

MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.05 percent after touching a two-year trough on Tuesday. Markets have been pressured by sharp losses in China, where blue chips .CSI300 were near 13-month lows.

Japan’s Nikkei has been faring better and was all but flat in early trade.

Here are key stocks in focus today:

Fortis Healthcare: Fortis Healthcare finally reported its March quarter results with country’s second largest hospital chain reporting a net loss of Rs 932 crore for the quarter, compared to a Rs 68 crore loss in the corresponding quarter.

Manpasand Beverages: Manpasand Beverages would convene a board meeting on June 27 to consider and approve audited financial results for March quarter.

IDBI Bank: IDBI Bank clarified on reports of the bank flouting RBI norms. “IDBI Bank has an exposure of Rs 47.18 crore to D S Kulkarni Developers. The Bank is not in possession of the Forensic report prepared by EOW and hence the Bank is not in a position to comprehend which specific RBI norms are alleged to have been flouted,” said the bank.

Infosys: Infosys, India’s second-largest IT services firm, said the US Securities and Exchange Commission is not investigating it and it has sufficient time to file a key regulatory document.

Voltas: Voltas clarified that it is not aware of Tata’s stake sale in Voltas. Hence, it is not in a position to offer any comments on the rumours doing the rounds that Tata wishes to sell 9 per cent stake in the company in order to focus more on aerospace and defence.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

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