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 134 points or 0.60% at 22,129.00 indicating a negative start for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 gained 148.95 points or 0.68% to settle at 22,146.65, while the BSE Sensex closed 335.39 points or 0.46% higher at 73,097.28.
Stocks to watch on March 15, 2024
GAIL (India)
GAIL India eyeing to foray into retail LNG (liquified natural gas) aiming to increase the use of LNG as a transportation fuel with a potential investment of Rs 650 crores, the company said on Thursday. Highlighting the potential of LNG business to grow substantially, the company, in an exchange filing, said that it plans to set up LNG dispensing stations across golden quadrilateral or major national highways, aspiring to acquire more than 50% market share in the next 5-6 years.
Oil Marketing Company
The government has slashed prices of petrol and diesel by Rs 2 per litre with effective from 6 am March 15. According to a tweet by the Ministry of Petroleum and Natural Gas, Oil Marketing Companies (OMCs) have announced revisions in the prices of petrol and diesel nationwide.
One97 Communications
Ahead of the RBI’s March 15 deadline, the National Payments Corporation of India on Thursday gave the nod to Paytm’s parent company One97 Communications to become a third-party UPI app. The Third-Party Application Provider approval has been granted under the multi-bank model, the official statement by the NPCI said.
Hindustan Zinc
Hindustan Zinc’s proposal to split the company into three separate firms would face challenges as it would be difficult for the company to garner requisite shareholder approvals. Further, the Indian government’s disapproving stance and its stake high are enough to block the transaction, according to a report by CreditSights.
TCS
Tata Consultancy Services signed a multi-million dollar agreement with Nuuday, Denmark’s leading digital connectivity and communications provider, to implement a complex cloud transformation on March 14. As part of the deal, TCS will take full responsibility for Nuuday’s IT infrastructure and migrate it to the TCS hybrid cloud, paving the way for future transformations.
Wipro
Wipro has been selected by Desjardins to transform their credit solutions for members and clients. Wipro’s flagship NetOxygen solution will integrate and manage Desjardins’ multiple in-house and legacy systems to bring all their loan origination systems into one platform, resulting in improved customer experience, efficiency gains and cost savings, said the IT major in a filing with BSE.
ZEE
The Securities and Exchange Board of India (Sebi) has accused Zee chairman emeritus Subhash Chandra of “suppressing material facts” in the alleged fund diversion case being probed by the markets regulator.
IndiGrid
Infrastructure investment trust IndiGrid has bagged a 180 MW/360 MW battery energy storage system project in Gujarat. The letter of intent for the project has been awarded by Gujarat Urja Vikas Nigam Limited, the InvIT said in a statement.
Vedanta
Vedanta’s plan to demerge its businesses into separate entities could face hurdles from its minority shareholders and creditors, according to a report. On September 29, the mining conglomerate announced plans to demerge five of its key businesses, including aluminium, oil and gas, and steel, into separate listed entities.
Adani Green Energy
Adani Green Energy has operationalized 126 MW wind power capacity in Gujarat, marking the completion of the 300 MW of project, with 174 MW being operationalized earlier.
Bharat Electronics
Bharat Electronics has entered into a contract valued at Rs 847.70 crore plus taxes with Larsen & Toubro for the supply of 14 cutting-edge Communication and Electronic Warfare sensors and systems. These state-of-the-art systems, manufactured domestically by BEL, will be installed on three Cadet Training Ships for the Indian Navy.