Handy futures on the Singapore Exchange traded 110 points, or 0.64 percent lower at 17,170, indicating Dalal Street was off to a negative start on Monday. Indian indices closed lower for the third straight session on Friday. The BSE Sensex closed 59 points lower at 57,832.9 while the NSE Nifty moved 28 points lower to settle at 17,276. On a weekly basis, the Sensex lost 0.55 percent and the Nifty about 0.56 percent. Sector-wise, real estate, oil and gas, materials, health care and energy indices were big losers.
Here are stock to follow in today’s trading:
The US insurtech firm has signed the Indian IT major into its select-level Guidewire PartnerConnect program for the Americas region. Members of Guidewire PartnerConnect Consulting provide consulting services that include business transformation and strategy, implementation, and associated solution and delivery services. The stock has been under pressure in the past month due to declining tech stocks worldwide. It fell nearly 12 percent in the past month.
Rakesh Gangwal, co-founder of InterGlobe Aviation Ltd, has stepped down as a non-executive, non-independent director of the company with immediate effect and will wind down his stake in the company for five years, transferring control to co-founders. promoter Rahul Bhatia after a truce. The stock has been volatile since last month, gaining just 2 percent during this period.
The private lender said Srikanth Nadhamuni has resigned from the board of directors, citing possible future interests. Nadhamuni has tendered his resignation as a non-executive (non-independent) director of HDFC Bank through his letter of resignation dated February 18, 2022.
The IT company has expanded its relationship with The Royal Automobile Club of Victoria (RACV) with a multi-year agreement to offer Integration-as-a-Service. The company did not disclose the size of the contract.
The tractor maker will receive Rs 1,872.74 crore from Kubota Corporation as it has approved the preferred allotment of 93.63 lakh shares at Rs 2,000 per share. After the allotment, Kubota Corporation will have a 16.39 percent stake in the company.
Indian oil company
India’s largest oil company will set up ‘green hydrogen’ plants at its Mathura and Panipat refineries by 2024 to replace carbon-emitting units as it sees its just-announced green hydrogen policy as a turning point in the country’s energy transition that will help save costs.
The Hinduja Group’s flagship company plans to set up a new manufacturing facility in the country to roll out electric vehicles. The Chennai-based company has also made an investment of Rs 500 crore to develop powertrains based on alternative fuels such as CNG, hydrogen and electric for its commercial vehicles.
Power Finance Corporation
Life Insurance Corporation of India sold 2.02 percent of its stake in the company through open market operations. With this sale, LIC’s stake has fallen to 5.06 percent, from 7.09 percent earlier. The stock has been volatile since the last few sessions, falling more than 7 percent in the past month.
The state-run energy giant said it surpassed the maximum annual electricity generation of 314 billion units, reached in 2020-21 on Feb. 18. NTPC has registered a generation of 314.89 billion units through February 18, 2022, exceeding the maximum annual production of 314 BU. achieved in 2020-21.
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