Stocks to watch: Reliance, Paytm, ICICI Bank, HDFC Bank. Lupine, Tata Steel, Ruchi Soya on March 14, 2022

BSE Sensex and Nifty 50 had a negative start on the first day of the week, as suggested by the trends on SGX Nifty in early trading

BSE Sensex and Nifty 50 got off to a negative start on the first day of the week, as suggested by the trends on SGX Nifty in early trading. Handy futures were trading nearly half a percent or 68 points lower at 16581.50 on the Singapore exchange. Indian stock markets witnessed a decent recovery amid volatility, rising more than 2 percent after a four-week pause of decline. In addition, participants this week will be looking closely at IIP data, CPI inflation and WPI inflation. One of the key events is that the outcome of the US Fed’s policy meeting on March 16 will be closely watched as the majority expects a 25 basis point increase. “On the index front, a decisive close above 16,800 Nifty inches could help move towards the 17,200 zones. In the event of a decline, the 16,000-16,200 zone would act as a cushion,” said Ajit Mishra, VP of Research, Religare Broking.

Stocks to watch

Dependency Capital: Reliance Capital has reportedly received expressions of interest (EoIs) from 14 entities, including Adani Finserve, Blackstone, KKR and Piramal Finance, sources told The Financial Express. ArpWood, Varde Partners, Multiples Fund, Nippon Life, JC Flowers, Brookfield, Oaktree, Apollo Global, Poonawala Finance and Hero Fincorp are among other entities that submitted EoIs by the March 11 deadline, sources said.

Birla Estates: Birla Estates expects a sale proceeds of around Rs 11,000 crore from its recently launched luxury housing project in South Mumbai and has already sold homes worth Rs 1,000 crore, said CEO KT Jithendran.

GAIL: The state-owned GAIL (India) Ltd has announced a second interim dividend of 50 percent (Rs 5 per share) for the current fiscal year ending March 31, 2022. The total dividend payment will be Rs 2,220.19 crore with a record date of March 22. , the company said in a statement.

ICICI bank: ICICI Bank and Punjab & Sind Bank have signed agreements to acquire stakes in National Asset Reconstruction Company (NARCL). While ICICI Bank will invest Rs 137.5 crore to acquire a 5% stake, Punjab & Sind Bank will invest Rs 55 crore for a 2% stake.

Tata Steel: Tata Steel Ltd is seeking alternative markets for coal imports as it faces uncertainties with its Russian suppliers and bankers amid the Russia-Ukraine conflict, a company official said on Saturday.

HDFC Bank: In great relief for HDFC Bank, the Reserve Bank of India has lifted all restrictions on new digital business-generating activities, the lender said in a statement today. The HDFC Bank said the RBI has removed all restrictions from HDFC’s Digital 2.0 program.

she-wolf: Lupine received approval from USFDA. The pharma major has received approval from USFDA for an abbreviated new drug application for Vigabatrin for Oral Solution USP. This drug is the generic equivalent of Sabril, owned by Lundbeck Pharmaceuticals, LLC.

One97 Communications (Paytm): The Reserve Bank of India (RBI) on Friday banned Paytm Payments Bank from taking on new customers, citing “material oversight concerns” observed at the bank.

Ruchi soy: The Patanjali-backed Ruchi Soya will launch its follow-up offering (FPO) on March 24. The FPO includes shares with a par value of Rs 2, each added up to Rs 4300 crore. The issuance also includes a reservation of up to 10,000 shares for subscription by eligible employees. When such a placement is complete, the sequel size is reduced. The issue closes on March 28.

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