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.