Ahead of Futures and Options (F&O) expiry of June series next week, Indian markets are likely to be volatile while global cues are mixed. However, ahead of the GST council meet today, investors are likely to be cautious today.
Shares of Tata Motors are likely to be in negative terrain as Moody’s has demoted the auto major’s Corporate Family Ratings (CFR). Also, the company’s senior unsecured instruments significantly rated to Ba3 from Ba2.
In the domestic market on Thursday, after rising over 100%, shares of Jet Airways will be in focus today. The Mumbai bench of the NCLT admitted the debt-ridden air carrier on Thursday for bankruptcy proceedings under the Insolvency and Bankruptcy Code (IBC).
The tribunal, which will hear the case next on 5 July, ordered the Insolvency Resolution Professional (IRP) to complete the IBC process in three months, even though the law allows six months, saying “the matter is of national importance”.
Read EquityPandit ‘s Nifty Auto Outlook for the Week