Edelweiss, GMR Infrastructure stocks in focus; here’s all you need to know before the opening bell

The tug of war between Foreign Institutional Investors and Domestic Institutional Investors continued on Thursday.

Sensex and Nifty will enter Friday’s trading session on the back of a five-day gaining streak which has seen the indices rise over 2% each. Asian stock markets were trading with gains on Friday morning but US indices ended mixed with the NASDAQ slipping into the red. US Federal Reserve shift in policy that is likely to keep interest rates low for a longer period will guide the equity markets today. Analysts believe that stock markets could breach the 11,600 mark in the near term but may face turbulence after breaching that mark.

Global cues: Stock Market in the United States ended mixed on Thursday. Dow Jones was up along with S&P 500 while the NASDAQ ended with losses. Major Asian stock markets were trading with gains on Friday morning. Shanghai Composite was up 0.31% while Hang Seng was up 0.69%. TOPIX and Nikkei 225 were up in the green and so were KOSDAQ and KOSPI. 

FII and DII data: The tug of war between Foreign Institutional Investors and Domestic Institutional Investors continued on Thursday. FIIs purchased domestic stocks worth Rs 1,164 crore while DIIs were seen selling stocks worth Rs 809 crore. 

Results today: Today the following companies will be announcing their quarterly results; Archies, Centum Electronics, GP Petroleums, Industrial Investment Trust, Inox Wind, Khadim India, Kohinoor Foods, Magnum Ventures, SJVN, Polytex India, etc. 

Stocks to Watch

Defence stocks: After the Defence Ministry recently announced a push towards local defence manufacturing, it published a list of items where import will be embargoed in phased manner. Following up on the same, Chief Of Defence Staff General Bipin Rawat said that the government will put out a second list of items to face import restrictions next year. 

Edelweiss Financial Services: PAG, an Asia-focused investment group, and Edelweiss Group, yesterday  announced PAG’s strategic investment of approximately Rs 2,200 crores for a 51% stake in Edelweiss Wealth Management (EWM).

GMT Infrastructure: The company posted a net loss of Rs 834 crore in the April-June quarter. Along with this, GMR Infra announced strategic restructuring of Group companies. The restructuring will see the flagship infrastructure firm retain only the airport business listed as a separate entity. The remaining verticals –energy, EPC and urban infrastructure — will be carved out and housed in GMR Power and Urban Infra (GPUIL). 

Hindustan Aeronautics Ltd: HAL’s OFS was subscribed 1.6 times by non-retail investors on the first day of subscription.