Reliance Industries, TCS among key stocks in focus in Monday's trade

The Sensex and Nifty are expected to open flat on Monday tracking mixed trend in Asian markets on the first trading day of the second half of the year, with trade war worries between the US and its trading partners still a key concern for investors.

At 7:50 am, SGX Nifty was trading at 10,692.50, up 0.50 points or 0.03 per cent.

Overseas, the Nikkei 225 slipped 0.09 per cent as the consumer goods and utilities sectors logged declines. The Shanghai composite slipped 0.31 per cent, while the smaller Shenzhen composite was little changed. The Hong Kong markets were closed on Monday for a holiday.

Meanwhile, Wall Street’s major stock indices edged higher on Friday, as a surge in Nike Inc shares helped the quarter close out on an upswing while concerns over U.S. international trade relations ebbed.

The Dow Jones Industrial Average rose 55.36 points, or 0.23 per cent, to 24,271.41, the S&P 500 gained 2.06 points, or 0.08 per cent, to 2,718.37 and the Nasdaq Composite added 6.62 points, or 0.09 per cent, to 7,510.30.

Here are key stocks that will remain in focus in Monday's trade:

Tata Steel:  Tata Steel and Thyssenkrupp AG on Saturday signed definitive agreements to combine their European steel businesses in a 50:50 joint venture (JV) in a new company. The proposed new firm, to be named Thyssenkrupp Tata Steel BV, will be positioned as a leading pan European high quality flat steel producer with a focus on performance, quality and technology leadership. 

Tata Consultancy Services: TCS said its parent Tata Sons would be participating in the Rs 16,000 crore buyback the company announced earlier this month. TCS had said it would buy back over 7.6 crore shares at a price of Rs 2100 each. This will be the IT major’s second buyback in as many years. 

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Reliance Industries: Reliance Industries has signed an agreement to acquire US-based open telecom solutions provider Radisys, according to a statement. The cash acquisition is aimed at cementing Jio's position in futuristic areas such as 5G and Internet of Things (IoT).

Adani Enterprises: The Gautam Adani-led Adani Group on Sunday said it plans to raise Rs 5,000-6,000 crore of equity through a combination of primary issuances and secondary monetisation of its stake in some of its subsidiaries. The Adani Family through trusts and other entities hold controlling interest in entities including Adani Enterprises (AEL), Adani Ports and SEZ (APSEZ), Adani Power (APL), Adani Transmission (ATL) and Adani Green Energy (AGEL).

Jet Airways, SpiceJet, IndiGo: Aviation turbine fuel (ATF) price was today cut by 2.7 per cent as falling international rates brought down rates down from a four-year high. ATF or jet fuel was cut by Rs 1,942 per kilolitre, or 2.7 per cent, to Rs 68,086 per kl in Delhi, according to state-owned oil firms.