HDFC Bank, Reliance Naval, Vodafone Idea, Future Retail, Rate Gain Travel, Meghmani Finechem stocks in focus

Analysts see Nifty 50 touching 16,850 as next target in the short term.

After posting record closing highs on Tuesday, BSE Sensex and Nifty 50 were likely to open at fresh record high levels on the day of weekly F&O expiry. On Tuesday, BSE Sensex surged 210 points or 0.4 per cent to 55,792.27, while the Nifty 50 index ended at 16,614, rising 0.31 per cent or 51.55 points. Analysts see Nifty 50 touching 16,850 as next target in the short term. “The index successfully achieved its target of 16600. If we can keep above this, the next level should be 16850,” Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments, said.

Stocks to watch

A Naveen Jindal group firm along with two other players are likely to have submitted final bids for the beleaguered shipbuilding firm Reliance Naval and Engineering, sources close to development told FE. The two other bidders include Netherlands-based APM Terminals and a consortium of GMS, Dubai and BESIKTAS of Turkey.

Meghmani Finechem: Meghmani Finechem Ltd (MFL) on Tuesday said the company will get listed on the BSE and the National Stock Exchange (NSE) on Wednesday. “Tomorrow (August 18), 4.15 crore equity shares of Rs 10 of MFL will get listed on the stock exchanges and trading will commence,” the company said in a statement.

RateGain Travel Technologies: RateGain Travel Technologies, a travel and hospitality technology services provider, has filed a draft red herring prospectus (DRHP) with capital market regulator SEBI to launch an IPO.

The Reserve Bank of India (RBI) on Tuesday allowed HDFC Bank to issue new credit cards after eight months of imposing a ban as a penalty due to technical glitches, according to the news agency Reuters.