Stocks in news: ICICI Bank, Tata Power, GR Infraprojects, HCL Technologies and

The Indian equity market is likely to open higher today as SGX Nifty was trading 102 points higher at 17,382. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market. On Monday, Sensex rose 231 points to 57,593 and Nifty closed 69 points higher at 17,222. Earlier, Sensex lost 537.11 points to an intraday low of 56,825.09 in morning trade.

Bharti Airtel, Axis Bank, ICICI Bank, ITC, State Bank of India, Indusind Bank, Power Grid, Bajaj Finserv, Hindustan Unilever and Reliance Industries were the top Sensex gainers, rising up to 3.40%. Nestle India, HDFC, HCL Technologies, Dr Reddy’s, Asian Paints, Wipro, Larsen & Toubro, Tech Mahindra were the top Sensex losers, falling up to 1.83%.

Here’s a look at stocks to watch out for today.

Aurobindo Pharmaceuticals: The firm said it has acquired the business and certain assets of Veritaz Healthcare Limited (VHL) for a cash consideration of Rs 171 crore. The transaction will come into effect from April 1, 2022 and is expected to close by May 2022. The acquisition will greatly help the company as a launch pad for marketing biosimilar and other products in India. Veritaz operates in pharmaceutical industry in India and sells branded generic formulations and other healthcare-related products. Anti-infective and pain management are the major portfolios contributing to the revenue of Veritaz.

ICICI Bank: The lender will purchase a 15 percent stake in India Debt Resolution Company in tranches.

Also read: Sensex, Nifty snap three-day losing streak amid positive global cues

Sudarshan Chemical Industries: The company’s board has cleared fundraising of up to Rs 200 crore through the issue of non-convertible debentures, on a private placement basis.

Muthoot Capital Services: The company completed a transaction of Rs 193.63 crore through the securitisation of the portfolio. This is the second securitisation carried out by the company during FY22.

Welspun Specialty Solutions: The company has received Rs 15.97 crore from one of its customers, a public sector undertaking after an arbitral award was passed in favour of the company. This payment is with regard to certain disputes that arose out of a contract for the supply of seamless pipes by the company.

Wockhardt: The board of directors has approved the allotment of 3.32 crore equity shares at Rs 225 per share in the rights issue announced earlier this year.

Tata Power: The firm has collaborated with real estate developer Rustomjee Group, to provide end-to-end electric vehicle charging solutions across all its residential and commercial projects in Mumbai Metropolitan Region (MMR).

G R Infraprojects: The company has emerged as an L-1 bidder for two projects – four-laning of the existing 2-lane stretch from Govindpur to Rajura in Maharashtra, and from Bamni to MH/TG Border in Maharashtra on Hybrid Annuity Mode under Commercial Operation NH(O).

HCL Technologies: The IT services major said it has been selected to provide global service desk and on-site support to global healthcare company Novo Nordisk. Through the partnership, HCL will help Novo Nordisk transform its IT operations and create world-class end-user experiences and drive efficiency across its workforce.

Ruchi Soya: Market regulator Securities Exchange Board of India (SEBI) on Monday directed Patanjali Ayurved-owned Ruchi Soya to provide an option to all investors (except anchor investors) in its follow-on public offer (FPO) to withdraw their bids due to “circulation of unsolicited SMSs advertising the issue”.

The regulator said that prima-facie, the contents appear to be “misleading/ fraudulent” and not in consonance with SEBI (ICDR) Regulations, 2018. The window for withdrawal shall be available on March 28, 29 and 30.

Read More: Stocks in news: ICICI Bank, Tata Power, GR Infraprojects, HCL Technologies and

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