The markets are likely to start the last trading session of the current FY22 quietly. As of 06:55 AM, the April SGX Nifty contract was trading at 17,590 – indicating marginal gains of 30 single points on the NSE Nifty50.
Here are some stocks to watch out for in today’s trading:
bank hub: Axis Bank, the country’s third largest private lender, will buy Citibank India’s retail business in an all-cash deal for Rs 12,325 crore. This is the biggest deal in the banking space since Kotak Mahindra Bank’s acquisition of ING Vysya Bank in 2014, valued at Rs 15,000 crore. I read here
Tata MotorsTPG RISE Climate TopGun (TPG), a private equity fund, has subscribed to 3,75,00,000 compulsory convertible preference shares with a nominal value of Rs 1,000 per subsidiary of the company, Tata Passenger Electric Mobility, for a total of Rs 3,750 . The Rs. 7,500 crore tranche is the first tranche of the potential investment of Rs 7,500 crore, which the company announced in October 2021.
Seat and Apollo tires: The country’s antitrust agency on Wednesday raided the offices of tire companies, including Germany’s Continental AG, India’s Apollo Tires and SEAT, on suspicion of violating competition law, according to Reuters. I read here
TelecomReliance Jio and Vodafone Idea reported monthly decline in mobile subscribers while Bharti Airtel reported gains in January according to data released by Telecom Regulatory Authority of India on Wednesday. Reliance Jio saw a decline for the second consecutive month as its customer base decreased by 9.3 million to 406.3 million. Vodafone Idea continued its losing streak as it lost 389,082 subscribers. It ended the month with 265.12 million customers. The number of Airtel subscribers increased from 714,199 to 356.4 million.Read more
Tata Steel: The steel major said on Wednesday it will acquire asset-producing ferroalloys of Odisha-based Stork Ferro and Mineral Industries for Rs 155 crore in an all-cash deal. Moreover, it has also transferred its entire stake in the Special Economic Zone to Tata Steel Utilities.
Max Health Care: According to reports, KKR private equity fund will sell $500 million worth of shares in Max Healthcare via a combined deal on March 31. The stake will be offloaded by Kayak Investment, the KKR affiliated entity that has invested in the healthcare company. The stake will be sold with a base size of $375 million or Rs 2,800 crore,
ONGC: The company’s Offer for Sale (OFS) received 303 million requests from investors – 1.6 times the 188.7 million shares placed by the government. The two-day release will end on March 31. The Government has decided to exercise the option to oversubscribe to the extent of additional Rs 9.4 crore shares, in addition to Rs 9.4 crore shares of the Company. Accordingly, nearly 19 million shares, worth Rs 300 crore, reserved for retail investors will be sold at auction on Thursday.
Nizara Techniques: Subsidiary Nazara Pte Ltd (Nazara Singapore) will invest $2.5 million in BITKRAFT funds, of which $0.875 million will be invested up front while the remaining investment amount of $1.625 million will be spread over three years.
India Glycol: The company said it will start operating the Goarkahpur unit by May 15. The reason for the delay is the covid-19 pandemic.
Godrej Characteristics: The company has purchased 9 acres of land in Pune for a housing project with an estimated revenue of Rs 1,400 crore.
Bidelite Industries: NCLT has agreed to incorporate Pidilite adhesives into the company.
Cosmo movies: It has announced expansion by setting up a CPP film production line in Aurangabad with an annual production capacity of 25,000 metric tons. The investment of about Rs 140 crore will be financed by accruals and internal debt.
Hindustan Aeronautics: The Cabinet Security Committee (CCS) on Wednesday approved the procurement of 15 Light Combat Helicopters (LCHs) for Rs 3,887 crore from the company, for the Indian Air Force.
Forge spices: The Board of Directors meets on April 2 to consider fundraising
Mineglass cement: Promoter Vidula Consultancy Services acquired 2.26 thousand shares of stock in the company via open market transactions. Thus, its stake in the company is 9.92 percent, compared to 9.1 percent earlier.
Stocks in F&O Ban: Vodafone Idea is subject to an F&O ban as of March 31.