Stocks to watch: Hero Moto, Vedanta, Lupine, Future Retail, ONGC, Tech M.

Markets are likely to start a negative note on Friday amid the weak sentiment globally as US and European markets closed with heavy losses overnight. SGX Nifty futures were priced at 17,431 at 7:30 AM, indicating the start of a downside gap of 100 pips on the Nifty50.

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

Bharti Airtel, Tech M: The two on Thursday announced a strategic partnership to jointly develop and commercialize enterprise-grade digital solutions across 5G, private networks and the cloud. Airtel and Tech Mahindra will co-develop and commercialize 5G use cases in India, according to a statement. I read here.

SpiceJet: SpiceJet entered into a settlement in principle with Credit Suisse, to save itself from a possible liquidation. Last December, the Supreme Court ordered the closure of SpiceJet for failing to pay $24 million to Swiss maintenance company SR Technics. Read more

Hero Motocorp: The spending of more than 800 crore on Hero MotoCorp notebooks was not for business purposes but was made for a favor from the event management company, which allegedly seized the amount, according to an income tax department investigation. They were laid off by shell companies. I read here

Retail in the future: Some entities of the Future Group controlled by Kishore Bayani, whose payments were due on March 31, have defaulted. In a related development, Future Retail CEO (CEO) Sadashiv Nayak on Thursday resigned from the position seven months after his appointment, according to a document. Read more

paytmFintech Paytm said Thursday that it will be able to use the buy now and pay later service to purchase train tickets from the IRCTC website. Read more

Vodafone idea: Vodafone Idea on Thursday said its board of directors has approved the allocation of 3.38 billion shares of stock at Rs 13.30 per share to three promoter group entities – Euro Pacific Securities, Prime Metals and Oriana Investments – for about Rs 4,500 crore. The telecom operator earlier this month announced plans to raise Rs 14,500 crore, with promoters to inject Rs 4,500 crore. I read here

ONGC: ONGC which has opened seven of India’s eight oil and gas production basins, is on track to open another basin, Vindhyan as it details the commercialization of a gas discovery in Madhya Pradesh. The company said that an exploratory well in the Son Valley sector in Damoh district in the state of Madhya Pradesh discovered gas, and tests confirmed the presence of commercially available quantities. Read more

lupine: Mumbai-based major drugmaker Lupine said its facility in New Jersey had received thirteen notices from the US drug regulator. The facility accounts for less than 5 percent of Lupin’s global sales volume. However, the notes do not indicate any restrictions on supplies. I read here

indigo: The company has partially restored the salaries of its pilots as it stabilizes and grows its operations. India’s largest domestic airline has introduced a 28 per cent cut in pilots’ salaries in 2020. Read here

Gail: Gail (India) Thursday agreed to buy back 57 million shares at Rs.190 each for a total of Rs.1,083 crore. Buy back at a 22 percent premium over the company’s last closing price. Read more

Vedanta: Mining giant Vedanta Limited on Thursday said its board of directors has approved a proposal to acquire 580 megawatts of green energy for its operations across India. The company said a power delivery agreement has been signed with Sterlite Power Technologies Private Ltd, a special purpose vehicle for supplying solar and wind energy. I read here

Sterlite Technologies: The company has signed a definitive agreement to sell its 64.98 per cent stake in Maharashtra’s Transport Communications Infrastructure (MTCIL). The consideration total of Rs 43 crore has been approved to be received in multiple tranches.

Roshi Soy Industries: The Board of Directors approved the issue price at Rs 650 per share of stock to pursue the public offering.

HDFC Asset Management Company: As per the reports, Life Insurance Corporation of India acquired 2.02 percent of the shares of the company via open market transactions. With this, its stake in the company is 7.02 percent, up from 5 percent earlier.

Adani projects: He received an order worth Rs 2008.47 crore from the National Highway Authority of India (NHAI). With this order, Adani holds assets of over Rs 41,000 crore in the road portfolio

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