Stocks to watch: Bharti Airtel, Zee Entertainment, Jet Airways, BPCL, GAIL
MUMBAI: The Indian markets are likely to extend overnight gains and open higher on the back of positive cues from global peers.
Following stocks will be in action in trade today:
Bharti Airtel: The company is likely to conclude a much-anticipated deal to sell its towers in Africa in seven days, which could help the world's fourth-largest telecom operator rake in as much as $3 billion and help reduce debt.
The Sunil Mittal-headed company has already shortlisted buyers from among four tower companies — Helios Towers Africa, IHS, American Tower Corp and Eaton Towers — for the sale, say reports.
Zee Entertainment: Foreign Institutional Investors can now invest up to 100 per cent of the paid up capital in Zee Entertainment EnterprisesBSE 3.67 % from 49 per cent.
"FIIs can now invest up to 100 per cent (revised from earlier limit 49 per cent) of the paid up capital of Zee Entertainment Enterprises under the portfolio investment scheme," the RBI notification said.
Jet AirwaysBSE 0.74 %, SpiceJet: Price of jet fuel or ATF has cut by 1.8 per cent, third consecutive monthly price reduction since April, following rupee appreciation and reduction in international oil prices.
BPCLBSE 1.76 %, HPCL, IOC: The oil marketing companies have cut non-subsidised LPG price by Rs 24/ cylinder. This is the 5th consecutive price reduction since February.
Jaypee Power Ventures, Lanco InfratechBSE 3.65 %, GMR Infra, SesaBSE 1.39 % Sterlite: Local power producers, including Jaypee Power Ventures, Lanco Infratech, GMR InfrastructureBSE 0.88 % and iron ore miner Sesa Sterlite have offered to sell some of their power plants to India's largest power producer NTPCBSE 1.19 % as lenders put pressure on them to divest assets to slash debt.
GAIL: PNGRB has cut tariff for company's two South India gas pipelines. Kochi-Mangalore pipeline tariff was cut by 51.67 per cent to Rs 28.99/mBtu and Dabhol-Bangalore pipeline tariff was cut by 39.24 per cent to Rs 44.65/mBtu.
May Auto Sales: Tata Motors total sales fell 24 per cent to 37,525 units, Year-on-Year.
Ashok LeylandBSE -0.76 % sales slipped to 6,632 units, down 8.7 per cent, from 7,267 units, Year-on-Year.
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