New Delhi: Domestic stock indices are likely to trade in the red on Thursday, based on signals from their global counterparts. Global equities sold off and US Treasury bond prices rose as investors sought refuge in safe-haven assets during the Russia-Ukraine crisis. In Asia, the sell-off also showed no signs of slowing down. Trends on SGX Nifty pointed to a lower open for the home markets. The Singapore Exchange’s Nifty Futures, also known as the SGX Nifty Futures, fell 133.25 points, or 0.79 percent, to 16,767.20.
The benchmark BSE Sensex was down 69 points or 0.12 percent and closed at 57,232 on Wednesday; while the broader NSE Nifty had moved 29 points or 0.17 percent lower to finish at 17,063.
Here are stocks to watch during today’s session:
Vodafone idea: British telecom giant Vodafone Plc is reportedly in talks to sell its approximately 5% stake in telecom infrastructure company Indus Towers to Bharti Airtel. Industry sources told PTI news agency Britain’s Vodafone is in talks to sell its approximately 5 percent stake in Indus Towers, valued at more than Rs 3,300 crore, to Airtel. The proceeds will be pumped into Indian entity Vodafone Idea, she added.
Wipro: The company stated that it has joined o9 Solutions’ global partner network. Also, on February 22, 2022, Wipro has allocated 4,000 shares under ADS Restricted Stock Unit Plan 2004, pursuant to the exercise of ESOPs.
Vedanta: The company has announced that its board of directors will meet on March 2 to discuss and approve the third interim dividend for the current fiscal year. The record date for determining the shareholders’ entitlement to the said dividend, if declared, is set for March 10.
Adani companies: Adani Enterprises has announced the sale of its entire stake in DC Development Hyderabad Pvt Ltd and Naida Data Center (NDCL) to AdaniConnex Pvt Ltd. As a result, DC Development Hyderabad and NDCL are no longer wholly owned subsidiaries of the company (AdaniConnex Private Limited), Adani Enterprises said. AdaniConnex is a 50 percent joint venture of AEL with EdgeConneX Europe BV
Future group: Supreme Court has asked Amazon and Future Group to request the National Company Law Appellate Tribunal (NCLAT) to rule on a plea against the repeal of sanction against the US e-commerce major for its deal with Future Group’s company by the Competition Commission of India. Amazon and the Future Group are locked in a legal battle after the US e-commerce giant took the latter for arbitration at the Singapore International Arbitration Center in October 2020.