Stocks to watch: Shares of firms like SBI, Bharat Forge, Adani Enterprises, Jubilant Pharmova, and others will be in focus in Thursday’s trade.
The Nifty futures contract traded on the Singapore Exchange indicates a positive start to domestic equities. The contract was trading at 17,811, up 11 points or 0.06 per cent from the previous close.
“The global market has fallen back into the grip of uncertainty as the Fed chief signalled the possibility of a prolonged and faster rate hike, contradicting a dovish comment made by another Fed official last week. The market now anticipates a 50 bps rate hike, which has pushed the dollar index to a three-month high. However, a strong recovery was seen in the domestic market towards the end of the day, which kept the bulls on the move,” said Vinod Nair, Head of Research, Geojit Financial Services.
Read More: Sebi asks investors to link PAN with Aadhaar by March 31
SBI
The largest domestic lender raised Rs 3,717 crore through its third Basel III compliant Additional Tier 1 bond issuance in the current financial year at a coupon rate of 8.25%. The proceeds of bonds will be utilized in augmenting additional tier 1 capital, overall capital base and for strengthening capital adequacy of the bank.
Bharat Forge
Kalyani Powertrain, a wholly owned subsidiary, inaugurated its first e-bike manufacturing facility. The facility has a production capacity of 60,000 units per annum and scalable to 100,000 units per annum, will undertake assembly of e-bikes for Tork Motors, Kalyani Powertrain has a 64.29% stake in.
Adani Enterprises, Adani Power, Adani Wilmar
Three Adani group shares have been replaced under the additional surveillance measure by the National Stock Exchange of India (NSE). This update comes days after the group’s flagship firm Adani Enterprises was removed from the short-term additional surveillance framework.
Sequent Scientific
The acquisition plan to acquire 100% stake in Tineta Pharma has not materialized. Therefore, the share purchase agreement entered by the company with Tineta and its promoters has been terminated.
Sagar Cements
As Andhra Cements (ACL) is being acquired by the company, ACL’s board has been dissolved and reconstituted with members from Sagar Cement’s board of directors. The company stated, following the reconstitution, ACL has become a subsidiary of Sagar Cements.
Aptus Value Housing Finance
The company has denied reports that Chola Invest is looking to buy a controlling stake in the company.
Jubilant Pharmova
Jubilant Pharmova announced that USFDA communication assigning inspection classification of ‘Voluntary Action Indicated’ for its API manufacturing facility.
DISCLAIMER:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
