SGX Nifty50 was up 0.1 per cent at 15,956.5 as of 7:06 am on Wednesday, hinting at a slightly higher opening for the Indian benchmark indices. The market gained back its momentum for the first time in the last five consecutive sessions and clocked one percent gains on March 8. The broader markets also joined the rally with the Nifty Midcap 100 and Smallcap 100 indices rising 1.24 per cent and 1.51 per cent respectively.
Here is a List of Stocks to Watch Out for in Trade Today:
Yasho Industries
The company said its board on March 16 will consider capital expenditure for a new greenfield project with a capacity of 15,500 metric tonne per annum at Bharuch, Gujarat.
Zydus Lifesciences
Zydus’ US-based biopharmaceutical arm Sentynl Therapeutics Inc has executed an asset purchase agreement for the sale of BridgeBio’s Nulibry (Fosdenopterin) for injection. Nulibry is approved by the US Food and Drug Administration (USFDA) to reduce the risk of mortality in patients with molybdenum cofactor deficiency (MoCD) Type A, an ultra-rare, life-threatening paediatric genetic disorder.
ISGEC Heavy Engineering
The company has bagged a large order for cement waste heat recovery boilers from Shree Cement in Nawalgarh, Rajasthan. The scope of work includes designing, manufacturing, and supplying of PH boiler in the pre heater exhaust and AQC boiler in the cooler exhaust. The current order for the Nawalgarh site will be the third project that Isgec has received from Shree Cement.
Bafna Pharmaceuticals
Promoter SRJR Life Sciences LLP will sell 99,357 equity shares or 0.42 percent stake in the company through open market transactions. The purpose of this stake sale, which will start from March 9, is to achieve minimum public shareholding.
Bharat Forge
The auto ancillary company said its subsidiary Kalyani Strategic Systems (KSSL) has incorporated a joint venture company – Sagar-Manas Technologies (SMTL), with open joint stock company Dastan Transnational Corporation. The joint venture will help the company to participate in joint upgradation and manufacturing/ providing solutions for marine and defence products. Dastan, a Kyrgyzstan entity, is a leading multipurpose enterprise engaged in the development, manufacturing, sale of defence equipment, electronic devices, medical centrifuges, etc. KSSL will hold a 51 percent stake and the balance 49 percent will be held by Dastan in SMTL.
Sun Pharmaceutical Industries
Subsidiary Taro Pharmaceuticals USA Inc has completed the acquisition of subsidiary companies of Galderma. The acquired subsidiaries of Galderma included Galderma Holdings Inc which was incorporated in Delaware, Proactiv YK which was incorporated in Japan, and The Proactiv Company Corporation which was incorporated in Canada. These subsidiaries sold products under the Proactiv, Restorative Elements and In Defense of Skin brands. The company paid $99.279 million for the entire transaction.
Dish TV
Dish TV Ltd has disclosed its results of the annual general meeting, according to an exchange filing. The disclosure comes a day after markets regulator Sebi in an ad-interim order directed Dish TV to disclose the results of its AGM that was held on 30 December within 24 hours. According to the information updated with the exchanges, the shareholders have rejected all the three resolutions proposed in the AGM.
Airlines stocks
The Indian government on Tuesday announced the resumption of commercial international flight services from 27 March. The stocks of IndiGo and SpiceJet will be in focus.
Oil stocks
Crude prices are likely to scale new heights after the US announced ban on Russian oil. Stocks of ONGC, IGL, Indian Oil, among others may see a lot of activity.
Metal stocks
On Tuesday, the metal index saw heavy profit booking. With the global commodity prices remaining elevated, the metal index could see a lot interest from investors.
IT stocks
Weak rupee has helped IT stocks such as TCS, Infosys, TechM, and Wipro. The trend is likely to continue today.
Auto stocks
With the prices of key metals going up, the auto stocks could come under pressure.
Future Enterprises
The Bombay High Court on Tuesday allowed Future Enterprises to sell its stake in insurance joint venture Future Genrali to its Italian partner Generali, the firm said.
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