Stocks To Watch: Adani Group, IDBI Bank, IndiGo, Hero MotoCorp, ONGC, Ruchi Soya
Here are the stocks to watch before going into trade today..
Stocks in Asia wavered Wednesday as investors remained circumspect about the chances of the Ukraine war coming to an end.
This, after Russia said it will sharply reduce military activity near Ukraine’s capital Kyiv and that Moscow would take steps to “de-escalate” the conflict. The talks failed to reach agreement on a ceasefire, however.
Equities fell in Japan, but rose in Australia and South Korea. U.S. futures fell after the S&P 500 notched up gains for the fourth consecutive day. The Nasdaq 100 climbed, aided by Apple Inc., which logged its longest winning streak in 19 years. Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, rose 0.93% to 17,539 points as of 7:10 am.
Bonds got a breather as hopes for progress in talks between Russia and Ukraine drove down oil prices and inflation expectations. Crude oil reversed some of its slide in early Asia trade .
The dollar held losses against commodity-linked currencies. Elsewhere, bitcoin fell for the second consectutive day to $47,200.
Here are the stocks to watch before going into trade today:
Adani Group: The company achieved financial closure of Navi Mumbai International Airport project through execution of financial documents with State Bank of India. The lender has underwritten the entire debt requirement of Rs 12,770 crore for the project.
InterGlobe Aviation: Jiten Chopra, the chief financial officer of the IndiGo airlines operator, has resigned from the post effective March 28. The company has appointed Gaurav Negi as the CFO with effect from March 29.
Welspun: The company’s Saudi Arabia associate East Pipes Integrated Company for Industry has won an order of Rs 1,001.38 crore from Saline Water Conversion Corp.
Ruchi Soya: The Patanjali Ayurved-owned company has rescheduled for March 31 its board meeting to determine the issue price of its follow-on public offer, or FPO.
Emami: The company is looking to grow its personal and healthcare businesses in India mainly through acquisitions, Bloomberg reported. CFO N.H. Bhansali said the strategy is to grow through the inorganic route.
Hero MotoCorp: The company dismissed media reports of alleged bogus expenses incurred by the company. It also increased prices of its motorcycles and scooters by Rs 2,000 effective April 5.
ONGC: The company will sell 1.5% stake via an offer for sale on March 30. The floor price is Rs 159 per share.
IDBI Bank: The lender has approved sale of 20 crore equity shares in Ageas Federal Life Insurance Co. to Ageas Insurance International NV after exercise of call option by Ageas.
State Bank of India: The lender will acquire the entire stake (13.82%) of existing shareholders of SBI Global Factors. Shareholders include SlDBl, Bank of Maharashtra and Union Bank of India.
ICICI Bank: The bank has acquired 5.97% stake in Open Network for Digital Commerce for a consideration of Rs 10 crore.
Tata Consumer: The company acquired 10.15% stake in its UK arm for Rs 570.8 crore through a preferential issue of equity shares. TCP UK will become a wholly owned subsidiary upon completion of the deal.
Future Enterprises: The firm's credit rating has been downgraded to ‘D’ by Care Ratings after it failed to pay Rs 19.16 crore to PNB, Canara Bank and Union Bank of India under the one-time resolution plan.
ICICI Lombard: To consider declaration of dividend on April 21.
Exide: The company approved scheme of amalgamation of wholly owned subsidiary Chloride Power Systems & Solutions with itself.
Lemon Tree: The company has signed a licence agreement for 132-room hotel project in Rishikesh, Uttarakhand. The property is likely to be operational by March 2025.
Edelweiss: Declared interim dividend of Rs 0.25 per share.
Rail Vikas Nigam: The firm will sign a memorandum of understanding with Bharat Electronics to explore feasibility and execution of large projects through special purpose vehicles and other consultancy and project management services.
Strides Pharma Science: The company’s Managing Director and Chief Executive Officer R. Ananthanarayanan resigned. Arun Kumar, the founder of the company, will take over the role of MD and CEO.
NMDC: Appoints Amitava Mukherjee as director (finance).
Cerebra Integrated: To consider rights issue on April 4.
Pledged Shares Details
Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked a pledge of 19 lakh shares on March 25.
Sun Pharmaceutical Industries: Promoter Group Shanghvi Finance created a pledge of 1.17 crore shares on March 25.
Emami: Promoter Suraj Finvest created a pledge of 12.4 lakh shares between March 25 and March 28. Promoter Group Sneha Enclave created a pledge of 19.1 lakh shares on March 25.
Insider Trades
Grasim Industries: Promoter Group IGH Holdings bought 1.15 lakh shares bought between March 24 and March 25.
Bajaj Holdings & Investment: Promoter Group Jamnalal Sons bought 99,700 shares on March 25.
Vaibhav Global: Promoter Group Brett Enterprises bought 2,500 shares on March 28.
Bulk Deals
Orient Green Power Company: Janati Bio Power sold 57.02 lakh shares (0.75% stake) at Rs 13.2 apiece.
Nava Bharat Ventures: Mathew Cyriac bought 7.57 lakh shares (0.52% stake) and Elizabeth Mathew sold 7.55 lakh (0.52%) shares each at Rs 145.95 apiece.
Trading Tweaks
Price band revised from 20% to 10%: Future Enterprises
Moved into short-term ASM framework: Ashapura Minechem, Tata Teleservices (Maharashtra)
Moved out of short-term ASM framework: Future Lifestyle Fashions
Record date for interim dividend: BEML, SBI Life Insurance, Housing & Urban Development Corp., Sundaram Clayton
Ex-date final dividend: Ambuja Cements, Crisil
Ex-date special dividend: Crisil Ltd.
Ex-date interim dividend: Dhampur Sugar Mills
