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.
