Shares of United Spirits will remain in focus on Wednesday, as the company board is meeting to decide on the audited financial results for the year ended March 31, 2014. This is the fourth attempt by the company to declare its financial performance, as during the past three attempts it had failed to adequately explain the status about certain loans amounting to ₹1,350 crore provided to UB Holdings. As a result of the delay in publishing the results, the NSE has removed USL from the Nifty with effect from September 19.

Weak rupee bodes well for exporters

Stocks of information technology companies TCS, Infosys, Wipro and HCL Technologies as well as pharmaceutical majors Sun Pharma, Dr Reddy's Labs, Cipla, Aurobindo Pharma and Divis Laboratories may see buying interest as the rupee hit a two-week closing low of 60.68 to the dollar. Though most exporters might have hedged their currency exposure for the next six-nine months at a lower rate, the depreciation may help these firms beginning next quarter if rupee remains at the current level.

Punj Lloyd lining up fund-raising plans

Shares of Punj Lloyd will remain in focus on Wednesday, as its board of directors are meeting to consider private placement of non-convertible debentures, subordinated debt instruments and/or other securities, within the overall borrowing limits of the company. Punj Lloyd also said that it is exploring various options to sell its non-core assets. Recently, shareholders of the company authorised the board to borrow up to ₹10,000 crore. The stock has been on the rise in the last of three days.

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