Stocks in Focus on March 23: TCS, Indian Hotels, OMCs, SAIL, Defence Stocks and many more

The domestic equity barometers ended with robust gains on Tuesday, March 22, 2022

Certain stocks came in the news after the market was closed and these can impact the indices when it reopens on Wednesday, March 23, 2022. Source: PTI

The domestic equity barometers ended with robust gains on Tuesday, March 22, 2022. The S&P BSE Sensex surged 696.81 points or 1.22% at 57,989.30. The Nifty 50 index rallied 197.90 points or 1.16% to 17,315.50. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, March 23, 2022. List of such Stocks:

Tata Consultancy Services: The buyback issue of the company will close today, i.e., on March 23, 2022. The company had planned to buy back up to 4 crore equity shares from eligible shareholders.

GMR Power & Urban Infra: Equity shares of GMR Power and Urban Infra Ltd, the non-airport business company of the GMR Group, will start trading on BSE and NSE from Wednesday onwards. The company will be listed on the bourses tomorrow, i.e. Wednesday, March 23, 2022. For the first 10 days, the scrip will trade in the T-to-T category. GPUIL is a demerged company from GMR Infra.

TRENDING NOW

See Zee Business Live TV Streaming Below:

Indian Hotels: Tata Group-backed Indian Hotels Company (IHCL) on Tuesday launched its qualified institutional placement of Rs 2000 crore as the hotel chain wants to raise funds. The floor price for the QIP has been fixed at 203.48 per equity share (a 2.4% discount to CMP of Rs 208.45 per share). the Company may offer a discount of not more than 5% on the floor price so calculated for the Issue.

OMCs: Oil and marketing companies have raised the petrol and diesel price by 0.80 paise per litre from Wednesday. This is the second price hike in a row. From Wednesday, a litre of petrol in Delhi will cost Rs 97.01, while diesel prices will be raised to Rs 88.27.

JSW Steel / SAIL: India's top steelmakers have announced a price hike of rebar, hot-rolled coil (HRC) and cold-rolled coil (CRC). JSW Steel has raised rebar prices by Rs 1,250 per tonne while SAIL has increased the prices of HRC and CRC by around Rs 1,500 per tonne.

Defence Companies especially BEL / Paras Defense in Focus: The Defence Ministry on Tuesday approved the procurement of Rs 8,357 crore worth of military platforms and hardware, including air defence fire control radar and GSAT-7B satellite. The Ministry has also cleared the Indian army's Rs 4,000 crore proposal for a dedicated surveillance satellite to keep an eye on the activities along the borders with China and Pakistan. Besides, the Defence Acquisition Council has also approved procurement of 14 items worth Rs 380 crore for the Indian Army from iDEX startups/MSMEs.

HUL: Hindustan Unilever Ltd (HUL) in its clarification on a news article related to HUL's plan to acquire a major stake in spice major MDH has said that we do not comment/respond to speculation.

IRB Infrastructure: Project-wise gross toll revenue for increased 17% in February 2022 to Rs 277 crore YoY. Besides, the Union Minister of Road Transport and Highways Nitin Gadkari on Tuesday announced that all toll plazas, which are within 60 kilometres of each other on national highways will be removed in the next three months. He added, we will ensure that there is a minimum gap of 60 km between two toll plazas on the national highway.

Coal India: Union Coal Ministry is seeking relaxation of some environmental norms to help increase the country's overall coal production. Besides, the government has plans to reduce the share of coal-based thermal power generation capacity. It has a target to reduce its share to 32 per cent by 2030 as against the present share of 52 per cent.

Promoter Action

GMR Infrastructure: Several promoters have sold 0.30% stakes (1,80,00,000 shares) of the company via an open market between March 17, 2022, to March 21, 2022.

Bulk Deals

BSE: Norges Bank on account of the Government Pension Fund Global acquired 3 lakh shares via an open market at Rs 953.29 per share.

TAGS: