Indian share markets witnessed some losses on Tuesday and ended their session marginally lower. Losses were largely seen in the metal sector and IT sector, while realty stocks ended the day higher.
At the closing bell yesterday, the BSE Sensex stood lower by 53 points (down 0.2%) and the NSE Nifty closed lower by 28 points (down 0.3%). The BSE Mid Cap index ended the day up by 0.1%, while the BSE Small Cap index ended the day up by 0.5%.
Top Stocks in Focus Today
Bharti Infratel share price will be in focus today as the company announced it is exploring a mega stake acquisition in larger peer Indus Towers. This plan could be the largest consolidation move in the industry. As per the reports, the company has decided to explore and evaluate acquisition of stake in one or more tranches in Indus Towers, with the aim of making it a subsidiary or wholly owned subsidiary of Bharti Infratel. Bharti Infratel and Indus combined currently run nearly 41% of the total towers in India and account for 49% of co-locations.
Market participants will also be tracking Torrent Pharmaceuticals Ltd share price as the company announced it is in advanced discussions to acquire the domestic formulations business of Unichem Laboratories Ltd for Rs 32-33 billion.
Zydus Cadila share price will also be in focus today as the company received approval from the US health regulator to market Clobetasol Propionate ointment. The ointment is used to treat a range of skin conditions.
Growth in IIP Around the Corner?
In news from the economy, as per a leading financial daily, SBI Research in its latest report has accessed that Indian economy is likely to improve to 6% in the second quarter of the current fiscal year 2017-18, as against 5.7% growth in the first quarter of FY18.
This is in the wake of increase in several macroeconomic indicators like trade, transport and communication. It also said that Q2 growth might be in the lower end of 6-6.5% band with an upward bias.