Market News on S & P in Action, HCL New Contract & BPCL Kerala Approval

In Wednesday Morning Session, Rupee opened at 68.49 with the loss 12 paise against the Dollar. After this drop, Rupee went down to the lowest of the last 2 years.

The rating agency S&P is planning to downgrade the government banks due of their debts. S&P have put the Indian Overseas Bank on credit watch and thinking to negative the rating of Bank of India, while continuing the negative outlook on Syndicate Bank. After this news, Indian Overseas Stock received a big fall and currently trading at 22.70 with the loss of 4.62%. The present status of Bank of India is not much different from other Government banks. However, it is moving down with the loss of 2.63%.

HCL Tech has got the biggest outsourcing contract with the Swedish car manufacturer company Volvo. The deal is worth 1.8 Billion Dollar. Although, the company stock is currently moving in negative zone with major possibilities to rise up in near future.

Bharat Petroleum Corporation Limited has got the Environmental approval for the 337 crore Rupees pipeline contract in Kerela. This news made a big positive impact on BPCL stocks and experts advice to invest here for higher returns.