GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a weak opening. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded a tad lower as the index was down 11.50 points or 0.05% at 22,078.00 indicating a negative start for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 lost 92.05 points or 0.42% to settle at 22,004.70, while the BSE Sensex closed 361.64 points or 0.50% lower at 72,470.30.
Stocks to watch on March 27, 2024
Cipla
Stocks To Watch: Hindustan Zinc, Suzlon Energy, Glenmark Pharma, Hindustan Aeronautics, Vedanta Stocks To Watch: Eicher Motors, LIC, Cochin Shipyard, Biocon, Oil India, SJVN, Grasim, Alkem Lab, OLA Electric Mobility Stocks To Watch: Realty Stocks, Lupin, Tata Power, PB Fintech, SBI, Suzlon Energy, Godrej Consumer, ABFRL Stocks To Watch: Tata Consumer Products, Varun Beverages, JSW Infra, IOC, Vodafone Idea
Sanofi India and Cipla announced an exclusive partnership to boost access to Sanofi’s Central Nervous System (CNS) medications across India. Cipla will distribute Sanofi’s CNS portfolio, including Frisium, a leading anti-epileptic drug. Sanofi will retain ownership, import, and manufacture of the CNS products.
Hinduja Group
The Hinduja Group has started the process of rebranding Reliance Capital (RCap) and its operating companies, following the successful bid of the debt-laden firm, as it awaits final regulatory approvals.
Raymond
Raymond will expand its business across all its three verticals, starting with the apparels business. The group is also betting big on real estate and engineering, Raymond Group CFO Amit Agarwal said.
Religare Enterprises
Shareholders of Religare Enterprises have rejected two resolutions proposed by the company, amid an ongoing tussle between chairperson Rashmi Saluja and largest shareholder — the Burman family.
CDSL
Standard Chartered Bank is likely to exit Central Depository Services (India) Ltd by selling its entire 7.2% stake in the company through block deals on Wednesday, according to media reports.
Wipro
Wipro GE Healthcare said it would invest $960 million in its manufacturing, and research and development facilities in India. Wipro GE Healthcare is a joint venture between Wipro Enterprises and a wholly-owned entity of US-based GE Healthcare.
Aster DM Healthcare
Private equity firm Olympus Capital Asia plans to sell a 9.8% stake in India’s Aster DM Healthcare for up to Rs 195.3 crore (nearly $234.5 million), according to a term sheet seen by Reuters on Tuesday. Olympus Capital, which owns about 19% stake in the hospital chain, is planning the sale at 400-437.20 rupees per share.
Angel One
Angel One has launched a QIP (qualified institutional placement) issue at a floor price of Rs 2,555 per share. This is at nearly a discount of 7% on the current market price. The purpose of this fund raise is to augment and build financial flexibility to grow the business and harness various emerging opportunities both within the existing and expanding broking business and across the inorganic universe within the fintech space, said the company in a stock exchange filing earlier.
Piramal Enterprises
Piramal Enterprisesinvested Rs 2,000 crore in Piramal Capital & Housing Finance (PCHFL), a wholly-owned subsidiary of the company by way of subscription to a rights issue.