Benchmarks are heading to a possible flat start on Tuesday as per the trends indicated in the SGX Nifty futures contract, which was priced at 17,169 levels around 7:30 AM, just 10 points higher from the previous close. Global markets also closed lower on Monday as the Russo-Ukrainian war continued to weigh on sentiment.
Meanwhile, these are the stocks to watch out for in today’s trading:
Airlines: Domestic air traffic rose 20 percent from the previous quarter to 7.69 million in February from 6.4 million in January. Airlines saw a sharp rebound in traffic as Covid cases fell and restrictions eased. This was reflected in a jump in passenger load factors recorded in February. Read more
Zomato: Food delivery chief Zomato said Monday it will pilot a 10-minute food delivery service next month, claiming the cost to end customers could drop by 50 percent if the plan works as envisioned. I read here
Deepak Nitrite: ICRA upgraded the long-term rating from AA- to AA, and reconfirmed the short-term rating at ‘A1+’ for the Rs 756.27 crore bank facility of Deepak Phenolics, a wholly owned subsidiary of the company. The outlook for the long-term rating has been revised to positive from stable. The ICRA also reaffirmed the long-term rating at AA and the short-term rating at A1+ on the bank facilities of Rs 490 crore and Rs 200 crore of Deepak Nitrite commercial paper. The outlook for the long-term rating has been revised to positive from
Equitas Microfinance Bank (ESFB): Equitas Holdings’ board of directors has approved the merger with ESFB. Shareholders will receive 231 shares for 100 shares. NHPC: According to reports, LIC has sold a 2.03 percent stake in NHPC.
LIC now has a 7.23 percent stake in the company from 9.26 percent earlier.
L&T: The company’s board of directors will meet on March 24 to consider raising funds via debt.
Wipro: The company’s board of directors will meet on March 25 to consider paying an interim dividend. Sun Pharma: The company has entered into an agreement to acquire an 11.28 per cent stake in Zenotech Laboratories for Rs 5.32 crore. After the acquisition, it will increase its stake from 57.56 percent to 68.84 percent in the company.
Godawri Power Ispat: The Company has signed an agreement with Hira infraTek Limited (HITL) to acquire 44,54,621 shares of Hira Ferro Alloys Limited (HFAL) from HITL. After the acquisition, the company’s ownership in HFAL will be increased from 56.45% to 75.66%. Total CPA of Rs 99.78 crore.
Sign Up: The company will raise funds by debt for the 23rd financial year. Its board of directors has also approved a market borrowing program of Rs 85,000 crore by debt.
Gross national income: The Bank’s Board of Directors will meet on March 29 to consider raising funds via additional Basel III-compliant Tier 1 bonds and/or Tier 2 bonds or a combination, in one or more tranches for the 2022-23 fiscal year.
Jet Airways: The Galan Rock consortium outlined progress in reviving Jet Airways on Monday, as it seeks more time to implement its plans. The consortium has filed an application to this effect before the National Corporations Law Tribunal. The court will now hear the request on Tuesday as the lenders’ attorney, Janak Doarkadas, had no instructions on the matter. Read more
Stocks in F&O Ban: Balrampur Chini, IndiaBulls Housing Finance, Delta Corp.