Stocks to watch: Aurobindo Pharma, RIL, Ruchi Soya, Tata Power, PowerGrid

Markets are likely to start positive on Tuesday as crude oil prices fell 8 percent overnight due to the shutdown in Shanghai and declining demand from China. SGX Nifty futures were priced at 17,430 at 7:45 AM, indicating an open gap of about 100 pips for Nifty50.

Meanwhile, these are the stocks to watch out for in today’s trading:

Aurobindo Pharma: Hyderabad-based pharmaceutical maker Aurobindo has acquired Veritaz Healthcare’s local formulations business in Hyderabad on a down selling basis at Rs 171 crore. Read more

RIL: Reliance Jio, the company’s arm, is in advanced talks with South Korean consumer electronics and telecom equipment company Samsung to be the latter’s third-party technology provider, complementing Reliance Jio’s efforts to launch a nationwide 5G network. Read more

Moreover, Reliance Jio on Monday announced a monthly recharge plan of Rs 259 for its prepaid customers. It is their first prepaid recharge plan with full validity of 1 month. I read here

India charcoal: In allaying fears of a coal supply shortage, the state-owned Indian Coal Company said on Monday it is focusing its efforts on meeting projected demand for the power sector on a priority basis. The state-owned coal mining company in this fiscal year to March 24 delivered an all-time high of 528 million tons (MT) of coal for the country’s power utilities. I read here

Roshi Soya: The Securities and Exchange Board of India (SEBI) has directed Ruchi Soya Industries to give investors who took part in the follow-up public offer (FPO) of Rs 4,300 crore an option to withdraw their bids due to “trading of spam SMS advertising trouble”. I read here

Electricity network: The company agreed to invest ₹821.3 kronor in 5 projects.

somani ceramics: The Board of Directors has approved an investment of Rs. 9.50 crore in the arm of the Continental Saudi Riyal

GR Infraprojects: The company has secured two applications in Maharashtra for commercial operating hybrid annuity status from NHAI. The projects are valued at Rs 1,744 crore.

TATA Strength: The company and the Rustomjee Group have teamed up to create electric vehicle charging infrastructure in the latter’s commercial and residential projects across the Mumbai metropolitan area.

Piramal Projects: The company has agreed to allocate 1,750 guaranteed non-communicable diseases each with a face value of Rs 10 lakh at a price of Rs 10,05,497 per bond totaling Rs 175.96 crore on a private placement basis.

ICC Bank: The bank has signed an agreement to invest in the Indian Debt Settlement Corporation. It will buy a 15% stake in IDRC for Rs 7.5 crore with an initial investment of Rs 3 crore by March 31.

Zensar Techniques: The company has opened a Global Delivery Center in Kolkata to support global clients and tap local talent.

Wellspun specialty solution: The company has secured an order of Rs 16 crore for the supply of seamless tubes.

Sudarshan Chemical Industries: The Board of Directors has approved an increase of Rs 200 crore via non-communicable diseases.

Dear Reader,

Business Standard has always strived to provide the latest information and commentary on developments that matter to you and that have broader political and economic implications for the country and the world. Your continued encouragement and feedback on how we can improve our offerings has made our determination and our commitment to these ideals even stronger. Even during these challenging times brought about by Covid-19, we continue our commitment to keeping you updated with trusted news, authoritative opinions and insightful commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more, so we can continue to bring you more quality content. Our subscription form has seen an encouraging response from many of you, who have subscribed to our content online. Further subscribing to our online content can only help us achieve our goals of providing better and more relevant content. We believe in free, fair and credible journalism. Your support with more subscriptions can help us practice the journalism we are committed to.

Support quality press and Subscribe to Business Standard.

digital publisher

Leave a Reply

Your email address will not be published. Required fields are marked *