SGX Nifty50 rose 0.1 percent to 15,956.5 on Wednesday at 7:06 AM, signaling a slightly higher open for the Indian benchmark indices. The market recovered for the first time in the last five consecutive sessions, posting a one percent gain on March 8. Broader markets also took part in the rally with the Nifty Midcap 100 and Smallcap 100 indices rising 1.24 percent and 1.51 percent, respectively. †
Here is a list of stocks to watch out for in today’s trading:
Yasho Industries
The company said its board of directors will consider capital expenditures on March 16 for a new greenfield project with a capacity of 15,500 tons per year in Bharuch, Gujarat.
Zydus Life Sciences
Zydus’ US-based biopharmaceutical arm Sentynl Therapeutics Inc has entered into an asset purchase agreement for the sale of BridgeBio’s Nulibry (Fosdenopterin) for injection. Nulibry has been approved by the United States Food and Drug Administration (USFDA) to reduce the risk of death in patients with molybdenum cofactor deficiency (MoCD) Type A, an extremely rare, life-threatening genetic disorder in children.
ISGEC heavy engineering
The company has won a major order for waste cement waste heat recovery boilers from Shree Cement in Nawalgarh, Rajasthan. The working area includes designing, manufacturing and supplying the PH boiler in the outlet of the preheater and the AQC boiler in the outlet of the cooler. The current order for the Nawalgarh site will be the third project Isgec has received from Shree Cement.
Bafna Pharmaceuticals
Promoter SRJR Life Sciences LLP will sell 99,357 shares or a 0.42 percent stake in the company through open market operations. The aim of this share sale, which will start on March 9, is to achieve a minimum public shareholding.
Bharat Forge
The auto-auxiliary company said its subsidiary Kalyani Strategic Systems (KSSL) has formed a joint venture – Sagar-Manas Technologies (SMTL), with the open joint-stock company Dastan Transnational Corporation. The joint venture will help the company participate in joint upgrades and manufacturing/solutions for maritime and defense products. Dastan, a Kyrgyz entity, is a leading multi-purpose enterprise engaged in the development, production and sale of defense equipment, electronic devices, medical centrifuges, etc. KSSL will have a 51 percent stake and the rest will be 49 percent owned from Dastan in SMTL.
Sun Pharmaceutical Industries
Subsidiary Taro Pharmaceuticals USA Inc has completed the acquisition of subsidiaries of Galderma. The acquired Galderma subsidiaries include Galderma Holdings Inc, incorporated in Delaware, Proactiv YK, incorporated in Japan, and The Proactiv Company Corporation, 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 released the results of the annual general meeting, according to an exchange request. The disclosure comes a day after market regulator Sebi in an ad interim order instructed Dish TV to announce the results of the AGM held on December 30 within 24 hours. According to information updated with the exchanges, shareholders have rejected all three resolutions proposed at the AGM.
Airline Shares
The Indian government announced on Tuesday that commercial international flight services will resume from March 27. The shares of IndiGo and SpiceJet will take center stage.
oil stocks
The price of crude oil is likely to reach new heights after the US announces a ban on Russian oil. Shares of the likes of ONGC, IGL, Indian Oil may see a lot of activity.
metal stocks
On Tuesday, the metals index saw heavy gains postings. With global commodity prices remaining high, the metals index could see a lot of investor interest.
IT stocks
Weak rupee has helped IT stocks like TCS, Infosys, TechM and Wipro. The trend is likely to continue today.
Auto Shares
With prices of key metals rising, auto stocks may come under pressure.
Future ventures
The Bombay Supreme Court on Tuesday allowed Future Enterprises to sell its stake in the insurance joint venture Future Genrali to its Italian partner Generali, the company said.
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