Stocks in focus: RIL, Bharti Airtel, Vodafone Idea, Ion Exchange, IRCON, Coal India, Yes Bank

Nifty futures were trading 33.50 points or 0.22 per cent up at 15,017 on Singaporean Exchange. On Wednesday, the Nifty 50 index may open above the 15,000-mark after a three-day gap. Market participants will track global cues, stock-specific developments, oil movement and rupee trajectory for further cues. According to a technical analyst, the Nifty/Sensex is heading for the minimum target of 15065/50750 based on the daily chart. “On the other side, 14830/50100 and 14750/49800 would be major supports,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.

Stocks in focus today:

Reliance Jio Infocomm Ltd (RJIL) on Tuesday said it has acquired the right to use spectrum in all 22 circles across India in the latest spectrum auction. Telecom operator Bharti Airtel had purchased 355.45 MHz spectrum across Sub GHz, mid-band, and 2300 MHz bands worth Rs 18,699 crore. Vodafone India had also acquired 11.8 Mhz spectrum worth Rs 1,993 crore in five circles to enhance its 4G coverage.

Ion Exchange of India: Rakesh Radheyshyam Jhunjhunwala and his firm Rare Investments on Tuesday offloaded shares worth nearly Rs 65 crore in Ion Exchange India Ltd, through open market transactions.

The offer for sale (OFS) for up to 16 per cent government stake at a floor price of Rs 88 per share in railway PSU IRCON will open on Wednesday. The total issue size, including green-shoe option, comes to 16 per cent or over 7.52 crore shares.

Coal India (CIL) has tied up with 17 power plants to drive import substitution, besides other measures that have helped it to push 71 million tonne of additional coal to consumers ending February this fiscal.

YES Bank on Tuesday said its shareholders have approved a proposal for raising Rs 10,000 crore capital with the requisite majority. As many as 98.78 per cent votes were cast in favour of the resolution to authorise the bank to raise capital through issuance of equity shares or other securities.