BSE Sensex and Nifty 50 were staring at a negative start on the first day of the week, as suggested by the trends on SGX Nifty in early trade. Nifty futures were trading nearly half a per cent or 68 points down at 16581.50 on Singaporean Exchange. Indian share markets witnessed a decent recovery amid volatility and gained over 2 per cent, taking a breather after four weeks of slide. Moreover, this week participants will keenly watch IIP data, CPI Inflation and WPI Inflation. Among the important event, the US Fed policy meet outcome on March 16 will be closely watched as the majority expect a 25 bps hike. “On the index front, a decisive close above 16,800 could help Nifty inch towards the 17,200 zones. In case of decline, 16,000-16,200 zone would act as a cushion,” Ajit Mishra, VP Research, Religare Broking, said.

Stocks to watch

Reliance Capital: Reliance Capital is understood to have 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 have sent in EoIs within the March 11 deadline, sources said.

Birla Estates: Birla Estates expects sales revenue of around Rs 11,000 crore from its newly launched luxury housing project in south Mumbai and has already sold properties worth Rs 1,000 crore, its CEO K T Jithendran said.

GAIL: State-owned gas utility GAIL (India) Ltd has declared a second interim dividend of 50 per cent (Rs 5 per share) for the current fiscal year ending March 31, 2022. The total dividend payout 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 pick up stakes in National Asset Reconstruction Company (NARCL). While ICICI Bank will be investing Rs 137.5 crore to acquire a 5% stake, Punjab & Sind Bank will put in Rs 55 crore for a 2% stake.

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

HDFC Bank: In a major relief for HDFC Bank, the Reserve Bank of India lifted all restrictions on new digital business generating operations, the lender said in a statement today. The HDFC Bank said that the RBI has removed all restriction from HDFC’s Digital 2.0 programme.

Lupin: Lupin received approval from USFDA. The pharma major has received approval from USFDA for 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 barred Paytm Payments Bank from onboarding new customers, citing “material supervisory concerns” observed at the bank.

Ruchi Soya: Patanjali-backed Ruchi Soya will launch its follow-on public offer (FPO) on March 24. The FPO comprises equity shares of face value of Rs 2 each aggregating to Rs 4300 crore. The issue also includes a reservation of up to 10,000 equity shares for subscription by eligible employees. If such placement is completed, the follow-on size will be reduced. The issue will close on March 28.