GIFT Nifty traded 60.50 points or 0.27% higher at 22,511.00 indicating a positive start for domestic indices. Here are the top stocks to watch for the day.
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening in the special trading session to be conducted on Saturday. Here’s a look at the key stocks to watch in trade.
Special trading session | Stocks in Focus: GIFT Nifty traded higher as the index was up 60.50 points or 0.27% at 22,511.00 indicating a negative start for domestic indices NSE Nifty 50 and BSE Sensex on Saturday. Previously, on Friday, the NSE Nifty 50 gained 355.95 points or 1.62% to settle at 22,338.75, while the BSE Sensex closed 1245.05 points or 1.72% higher at 73,745.35.
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Stocks to watch for special trading session on March 02, 2024
ZEE Entertainment
Sony Group’s Indian subsidiary Culver Max has challenged the maintainability of Zee Entertainment’s plea on merger enforcement before the National Company Law Tribunal (NCLT) Mumbai. The NCLT will hear Sony’s plea and other applications regarding the Sony-Zee merger case on March 12, media reports said on Friday.
Paytm
On March 01, the Financial Intelligence Unit fined Paytm Payments Bank under the Prevention of Money Laundering Act. The RBI has fined PPBL with a charge of Rs 5.49 crore, because the Paytm subsidiary’s users were found to be engaged in several illegal activities, including organising and facilitating online gambling, it said in a press statement.
Torrent Power
Torrent Power, an integrated power utility of Torrent Group, has signed an agreement with NTPC to supply power from its Gas-based Power Plant during the forthcoming Summer’s crunch/high power demand periods from March 16, 2024 to June 30, 2024 period.
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Wipro
After rolling out an average variable payout of 80% for two quarters, Indian IT major Wipro offered an average of more than 85% to its employees for the third quarter of the current fiscal, according to two sources in the company.
Adani Group
The Adani Group will invest Rs 75,000 crore in Madhya Pradesh across various sectors such as cement, roads, energy and natural resources, a move that would generate more than 15,000 jobs. The group has been on an investment spree across various states in the country, mostly to develop infrastructure across sectors.
Jio Financial
The S&P BSE rejigged the index and added only Jio Financial to the S&P BSE Largecap Index. It has also been added to BSE Allcap and LargeMidcap indices.
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Axis Bank
Axis Bank’s board of directors has approved raising Rs 4,000 crore through long-term bonds, non-convertible debentures, and other debt instruments on March 01.
Info Edge
Google Play Store has removed the company’s Naukri and 99acres apps citing non-compliance with the tech giant’s app billing policy for an extended period, according to the company’s founder Sanjeev Bikchandani. The move is part of Google’s broader initiative to eliminate apps from Indian developers that fail to adhere to its billing policies, reported Moneycontrol.
Cipla
The USFDA conducted a pre-approval inspection at the manufacturing facility of Cipla (Jiangsu) Pharmaceutical Co, a subsidiary of the company, located in Qidong, Jiangsu Province, China from 26th February, 2024 to 1st March, 2024. The inspection concluded with zero Form 483 observations, according to an exchange filing.
