Stocks in News: Power Grid, Oil India and PSU bank stocks among other key counters to watch out for on Thursday

The Indian markets closed higher on Wednesday ahead of key US Fed Federal Open Market Committee (FOMC) meeting scheduled later in the day. Both the benchmark indices – Sensex and Nifty50 – closed almost 2 per cent higher, lifted by bank and auto stocks.

According to market analyst Mohit Nigam, who is also Head – PMS, Hem Securities, “Investor sentiments got a boost amid positive Asian market cues as China announces that they will roll out more economic stimulus to tackle the situation of rising covid cases.”

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Stocks in News

Stocks such as Union Bank, Punjab and Sind Bank, Indian Overseas Bank, Oil India, Dhanlaxmi Bank, Power Grid, J&K Bank, Manappuram Finance among others likely to be in focus on Thursday.

Corporate Actions

Banks Board Bureau recommends A Manimekhalai for the position of Managing Director (MD) and Chief Executive Officer (CEO) in Union Bank.

Similarly, it also recommends Swaroop Kumar Saha for the position of MD & CEO in Punjab & Sind Bank and Ajay Kumar Srivastava for the position of MD & CEO in Indian Overseas Bank

Oil India subsidiary to invest Rs 6,555 crore for Numaligarh (Assam) petrochemical project

Dhanlaxmi Bank’s board to consider fund raising option through Rights Issue.

Power Grid’s board to consider fund raising options via bond.

Embassy REIT’s board to consider fund raising plan

Manappuram Finance’s board to consider fund raising plan via debt and business

J&K Bank’s board to also consider fund raising options through bonds’

Economic Indicators

US Fed FOMC decision

ECB President Lagarde to speak

Bank of England interest rate decision

US Initial Jobless Claims

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