The stock market on Monday, March 22, closed flat with a negative ending amid a highly volatile trading session led by the banking stocks. The indices on Tuesday, March 23, on the contrary, are expected to open higher as at 7:05 am the SGX Nifty was trading at 70.50 points or 0.48 percent up at 14,785.50. On March 22, the BSE Sensex fell 86.95 points or 0.17 percent to close at 49,771.29. Similarly, the NSE Nifty lost 7.60 points or 0.052 percent to settle the day at 14,736.40.
Top stock to look for the day:
Bharat Petroleum Corporation: The Scheme of Amalgamation of natural gas firm Bharat Gas Resources with the oil refinery and marketing company BPCL has been approved by the board of directors of the company.
Maruti Suzuki India: Due to an increase in various input costs, Maruti Suzuki which is India’s largest carmaker has increased the prices of vehicles with effect from April 2021.
Bharti Airtel: An additional 3.3 percent stake will be acquired by the company in Avaada MHBuldhana.
Mahindra and Mahindra: For the supply of 1,300 Light Specialist Vehicles to the Indian Army at a cost of Rs 1,056 crore, the Ministry of Defence has signed a contract with Mahindra Defence Systems.
KEC International: New orders worth Rs 1,429 crore have been secured by the company across its various businesses.
IndusInd Bank: Outlook on the bank has been revised upwards to Stable from Negative by Moody’s Investors Service.
Madhav Infra Projects: An award for a solar project has been received by the company from Gujarat State Electricity Corporation (GSECL) for a contract value of Rs 87.27 crore.
Jubilant Ingrevia: According to the information provided, ace investor Rakesh Jhunjhunwala has said that persons acting in his concert have purchased 3,04,009 equity shares in Jubilant Ingrevia on March 19 which resulted in total shareholding in the company to be 99,33,809 equity shares or 6.2367 percent of the total paid-up equity of Jubilant Ingrevia.
SBI Life Insurance: The record date for the interim dividend has been revised by the company to April 6 from April 5.
Varroc Engineering: The proposed fundraise by way of a qualified institutions placement of equity shares has been approved by the company.