Titagarh Wagons, Texmaco Rail and Engineering, Kalindee Rail Nirman and Kernex Systems will remain in focus as the Centre has notified the Cabinet’s decision to allow up to 100 per cent FDI in railway infrastructure through the automatic route. Companies catering to construction, operation and maintenance of suburban corridor, high-speed trains, dedicated freight lines, coach manufacturing and maintenance and electrification will get a boost.

Man Infra, Southern Ispat stocks split

Shares of Man Infraconstruction and Southern Ispat will remain in focus as the companies have fixed Thursday as the ex-date for sub-division of the shares’ face value. Man Infra’s shares with a face value of ₹10, will be split into five shares of face value ₹2 each, while those of Southern Ispat with a face value of ₹10 will be split into 10 shares of face value ₹1 each. With Havells India, which earlier this week split its face value to ₹1, gaining strongly, all eyes will be on the stock splits.

FII restriction likely to weaken UPL

The Reserve Bank of India on Wednesday notified that the shareholding by foreign institutional investors in UPL Ltd has reached the trigger limit. Hence, further purchases of equity shares in this company would be allowed only after obtaining prior approval of the RBI. Following this, shares of the company may come under pressure. According to the latest shareholding pattern available with the exchanges, FIIs hold 48.59 per cent stake in the company.

comment COMMENT NOW