Adani Ports, Adani Power, Future Enterprises, Indian Hotels, and Infosys are stocks to keep an eye on.

  • March 23, 2022, 11:43 a.m.

Equities advanced in Japan, Australia, and South Korea. U.S. futures were volatile after the S&P 500 logged gains for the fifth session in a row. As of 6:50 am, the Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50 index, rose 0.21% to 17,408.50 points as of 6:50 am.

Treasuries held losses triggered Monday by signals from Federal Reserve Chair Jerome Powell that a half-point interest-rate hike is possible at the central bank’s next meeting. The U.S. dollar edged higher, Brent oil hovered around $115 per barrel while Bitcoin hovered around $42,000.

President Joe Biden and allies meeting Thursday in Brussels are expected to announce new sanctions against Russia for its invasion of Ukraine and fresh measures designed to keep the Kremlin from sidestepping existing economic penalties.

Commodity markets will be closely watched after the U.S. and U.K. reached a deal to ease tariffs on British steel and aluminum that may ease some inflationary pressures.

Here Are The Stocks To Watch

  • Infosys will acquire the Germany-based digital marketing agency Oddity for €50 million. The firm will merge with Infosys’ earlier acquisition, Wongdoody.

  • Adani Ports and Logistics: The company’s cargo volumes crossed 30 crore metric tonnes in FY2022.

  • SBI Life Insurance: The company approved a dividend of Rs 2 per share with a face value of Rs 10 each.

  • SBI: The bank acquired a 7.84% stake in Open Network for Digital Commerce for Rs 10 crore.

  • SBI Card and Payments: The bank declared an interim dividend of Rs 2.5 per share with a face value of Rs 10.

  • HCL: The company has signed a collaboration agreement with NEORIS for integrated IT services.

  • Indian Hotels: The company is offering 10 crore shares in a qualified institutional placement with an issue price range of Rs 200 to Rs 204 each to raise Rs 2,040 crore. The floor price is set at Rs. 203.48.

  • Hindustan Petroleum: Appointed Rajneesh Narang as Director (Finance) on the board of the company with effect from March 22, 2022.

  • The company approved a scheme of amalgamation of wholly owned subsidiaries—Adani Power Maharashtra, Adani Power (Mundra), Adani Power Rajasthan, Udupi Power Corporation, Raipur Energen, and Raigarh Energy Generation—with the company.

  • REC: The company appointed S. K. G. Rahate as Chairman and Managing Director with effect from February 22. The company also approved the incorporation of a project-specific special purpose vehicle, as a wholly owned subsidiary of REC Power Development & Consultancy, for the development of an inter-state transmission project in Karnataka allocated by the Ministry of Power.

  • Future Enterprise: The company has defaulted on interest of Rs 15.65 crore due on non-convertible debtentures.

  • Brigade Enterprises: The company has forayed into the plotted development space with a 66-acre residential project in Bengaluru, Karnataka.

  • Lemon Tree: The company has withdrawn the decision to create the position of Chairman and Managing Director/CEO and Patanjali Govind Keswani will continue to hold both positions.

  • The company has set up an assembling unit for E-scooters in Nashik for supply in the western zone of India.

  • The company has converted about 5.58 lakh sq. mtrs. of government grant land at Eklahare, Nashik, to freehold land at a cost of approximately Rs. 58 crore.

  • RailTel: The company has received a work order from Rail Vikas Nigam for the installation of RailTel's MPLS-VPN services for 5 years at various locations for Rs 11.57 crore.

  • Tata Coffee: The company reappointed Chacko Purackal Thomas as Managing Director and CEO of the company for three years from April 1, 2022. It also reappointed K. Venkataramanan as CFO of the company for a term of one year, effective October 25, 2022.

  • Axis Bank: Approves 17.5 million shares ESOP for staff at Rs 725.90 per share.

  • Barbeque Nation: Says the board will meet on March 28 to discuss business matters.

  • Indiabulls Housing Finance: To seek shareholders' nod for Rs 50,000 crore bond issue.

  • Ugro Capital: To consider a private placement of bonds on March 25.


Pledge Shares Details

  • Future Consumer: Promoter Future Capital Investment invoked a pledge of 71.57 lakh shares on March 17.

  • Tube Investments of India: Promoter Group Lakshmi Venkatachalam revoked a pledge of 2,400 shares on March 15.

Insider Trades

  • Hatsun Agro Product: Promoter and Director RG Chandramogan bought 12,500 shares on March 21.

  • Promoter Group Bunny Investments and Finance sold 20,000 shares between March 16 and March 21.

Bulk Deals

  • BSE: Norges Bank, on behalf of the Government Pension Fund Global, bought 3 lakh (0.66%) shares at Rs 953.29 apiece.

  • Strides Pharma Science: Capri Global Advisory Services bought and Capri Global Holdings sold 5.5 lakh (0.61%) shares each between Rs 349.24 and 349.05 apiece. 

Who's Meeting Whom

  • Chemcon Speciality: To meet investors and analysts on March 23.

Trading Tweaks

  • The Price Band was revised from 10% to 5%. New Delhi Television

  • Moving Into The Short-Term ASM Framework: One 97 Communications, West Coast Paper Mills, Maithan Alloys, Sarda Energy & Minerals

  • Move Out Of The Short-Term ASM Framework: Optiemus Infracom

  • BCL Industries, Mishra Dhatu Nigam

Author : Rajdhani Delhi Representative

Rajdhani delhi representative

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