The Indian equity market is likely to open marginally higher today as SGX Nifty was trading 30 points higher at 17,221. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
Sensex and Nifty declined on Friday, extending their losses to a third day as index majors HDFC Bank, TCS and Infosys fell amid a mixed trend in global equities. Sensex closed 233.48 points lower to settle at 57,362.20. During the day, it crashed 495.44 points to 57,100.24.
Nifty lost 69.75 points or 0.40 per cent to end at 17,153.
Titan, Tech Mahindra, Maruti Suzuki India, Wipro, Nestle India, TCS, Larsen & Toubro, HCL Technologies, Tata Steel and HDFC Bank were among the top Sensex losers, falling up to 3.59%.
Share Market LIVE: Sensex, Nifty likely to open flat today
Here’s a look at stocks that are likely to remain in news today.
GAIL (India): The state-owned natural gas distribution company on March 31 will consider the proposal of buy-back of the fully paid-up equity shares.
Fino Payments Bank: The Reserve Bank of India has granted nod for referring customers of Fino Payments Bank to Finwizard Technology for mutual fund distribution, and 5paisa Capital for demat & trading services under referral arrangement.
Adani Enterprises: The company’s subsidiaries – Mahanadi Mines and Minerals Private Ltd and MP Natural Resources Private Ltd – are declared as successful bidders for coal blocks – Bijahan and Gondbahera Ujheni East coal block in Odisha and Madhya Pradesh respectively, by the Government of India. The revenue sharing with the government will be 14 percent for the Bijahan coal block and 5 percent for the Gondbahera Ujheni East coal block.
Bharti Airtel: The telecom operator will buy around 4.7 percent stake in Indus Towers from Euro Pacific Securities, an affiliate of Vodafone Group Plc, at Rs 187.88 per share. The total transaction cost stands at Rs 2,388.06 crore.
Adani Total Gas: The firm, a joint venture of Adani group and French energy giant TotalEnergies SE, has forayed into the electric mobility infrastructure sector by launching its first EV charging station in Ahmedabad. The charging station is located at ATGL’s CNG station at Maninagar in Ahmedabad, the company said. The electric vehicle (EV) charging station “will enable quick turnaround time for EV owners with best-in-class fast charging technology and convenient use digital platforms,” it said. ATGL is India’s largest private CNG and piped cooking gas distributor.
PVR and INOX Leisure: Film exhibition major PVR on Sunday said its board of directors has approved a scheme of amalgamation of INOX Leisure Limited (transferor company) into and with the company.
The board of INOX also approved the merger scheme. Both PVR and INOX are public listed companies engaged in cinema exhibition, related food and beverages and allied activities.
“The proposed amalgamation would be in the best interest of the transferee company and the transferor company and their respective shareholders, employees, creditors and other stakeholders…,” a filing said.
GR Infraprojects: The company has become L-1 bidder for road project comprising up-gradation to four-lane with paved shoulder of NH-341 from Bhimasar to Anjar – Bhuj in Gujarat on Hybrid Annuity Mode. The bid cost of the project is Rs 1,085 crore and the said project is going to be completed within 730 days from the appointed date.
InterGlobe Aviation: The budget airline has resumed International flight schedules from various cities in India, on more than 150 routes in phases through April.
Emami: Home-grown FMCG company Emami Limited announced that it has acquired popular powder brand “Dermicool” from Reckitt for Rs 432 crore. The acquisition is funded through internal accruals and is subject to customary closing conditions, the company said. Dermicool is popular for providing cooling and respite from prickly heat caused during summer season and has high consumer connect through its marketing campaign jingle, ‘Aaya Mausam Thande Thande Dermicool Ka’.
