GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lower as the index was down 66.00 points or 0.29% at 22,638.00 indicating a negative start for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Thursday, the NSE Nifty 50 gained 19.50 points or 0.09% to settle at 22,493.55, while the BSE Sensex closed 33.40 points or 0.05% higher at 74,119.39.
Stocks to watch on March 11, 2024
Walt Disney CEO Bob Iger has said a joint venture with Reliance Industries after merging its India business would benefit the company in terms of profit and also “derisk” its business in the Indian market. The merger deal will create a big entity and help it to stay in the market at a “significant level”, said Iger at a Morgan Stanley investor conference earlier this week.
The National Company Law Tribunal has directed Swan Energy-IFFCO joint venture Triumph Offshore to hold a board meeting before April 4 to discuss issues raised by minority shareholder IFFCO regarding feasibility and viability of offering services to operate vessels.
The non-convertible debentures (NCDs) issue involved in the Securities and Exchange Board of India’s (Sebi) investigation of JM Financial was floated by Piramal Enterprises. Although the capital market regulator has not named the issuer, the details provided in the Sebi’s order match with the NCD issue of Piramal Enterprises.
Coal India (CIL) has entered into two non-disclosure agreements (NDAs) with companies in New South Wales, Australia to diversify into critical mineral mining and global resource acquisition. “CIL has signed two non-disclosure agreements (NDAs) with New South Wales (NSW) companies and are in the advanced stage,” the coal ministry said on Friday.
The Adani Group will invest around Rs 60,000 crore to expand the seven airports, which it already possesses, in its portfolio over the next 5-10 years, said Karan Adani, MD of Adani Ports and SEZ.
Siemens is placing its bets on India’s economic growth as well as its rapidly accelerating shift towards sustainability and digitalization to fuel the company’s progress in the next years, two top executives at the German engineering major said, Mint reported.
Zee Entertainment Enterprises
Rahul Johri, president, business, Zee Entertainment Enterprises, has quit the company after a three-and-a-half year working there. More senior-level exits are expected at the company, people familiar with the matter said, Mint reported.
Vedanta
Vedanta received an administrative warning from Securities and Exchange Board of India for “publishing information related to its unlisted ultimate holding company”. SEBI has directed the company to keep the warning letter before its board and take necessary corrective steps to strengthen the internal control for corporate announcements/ press releases, Vedanta said in an exchange filing.
RVNL
The company received an order worth Rs 251 crore for the supply, installation, testing, and commissioning of 11 KV Line related works like 11 KV Line Bifurcation, 11 KV Line conductor Augmentation, 11 KV line Interconnection, LT AB cabling augmentation, and conversion of LT Bare conductor to AB cabling in Jabalpur city. The contract is to be completed within 24 months.
Torrent Power has received letter of award from Maharashtra State Electricity Distribution (MSEDCL) for setting up of 306 MW grid-connected solar power project at Nasik in Maharashtra. The estimated cost of LoA is worth Rs 1,540 crore.
HG Infra Engineering has emerged as the lowest bidder for a project by the National Highways Authority of India. The project estimated to cost Rs 943.99 crore by NHAI is to be completed within 24 months. Involving a total stretch of 37.43 km, it is a hybrid annuity mode project.