Markets likely to open lower tracking global cues; Pfizer, Titan in focus

Domestic markets may not open on a bright note as the weak global cues would add gloom to the markets ahead of the derivatives expiry for the month of November and the winter session of the Parliament.

The early indicator SGX Nifty is trading down by 0.4% down.

The benchmark indices remained range bound on Monday and the Nifty ended just shy of 7,850 in the absence of any immediate triggers. 

The markets would remain closed tomorrow, November 26, 2015 on account of Guru Nanak Jayanti.

Overnight, the Wall Street ended marginally lower in a truncated Thanksgiving week mainly on the back of uncertainty in oil prices. European markets also edged lower on Monday.

Taking overnight cues, Asian equities are trading mixed with Hang Seng and Shanghai Composite down by 0.8% each.


Pfizer: The pharmaceutical giant Pfizer said on Monday that it had struck a $160-billion deal, including debt, to merge with Allergan, the maker of Botox, in one of the biggest takeovers in the health care industry. This deal could open up opportunities for other drug manufacturers in India.

Vedanta, Hindalco: The shares of metal and mining firms Vedanta and Hindalco Industries came under selling pressure on Monday following the BSE's announcement last week that the stocks would no longer be part of the 30-share Sensex from December 21. Both these stocks slipped in yesterday's trades.

Titan Company: Titan, will launch a ‘smartwatch’, which it has jointly designed and built with global computing major HP Inc  in India and select international markets by December.

Nestle India: Nestle India on Monday announced it has resumed Maggi noodles' manufacturing at its Pantnagar factory in Uttarakhand.

Lanco Infratech: Lanco Infratech Ltd today posted a consolidated net profit of Rs 98.98 crore in the second quarter of the current fiscal after three years, due to tax reimbursements and favourable power tariff order.

Tata Communications: Telecom company,Tata Communications said the shareholders of Neotel - its majority-owned South African telecom firm - are in talks with Vodafone South Africa for a revised transaction structure for the sale of Neotel.

Advanta, UPL: Advanta board has approved a merger with UPL. Advanta shareholders will get one equity share and three preference shares of UPL for every share held in the company on the record date.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel