Stocks in focus: Anupam Rasayan, Infosys, RIL, AstraZeneca Pharma, Coal India, IDBI Bank, Prestige Estates

Nifty futures were trading 4 points down at 15,415 on Singaporean Exchange in early trade, indicating a tepid start for BSE Sensex and Nifty 50 on Friday. Bond yields and the dollar index will determine the market trend in the coming days. In the previous session, Nifty rose 76.4 points (0.51%) to close at 15,174.8 while the Sensex gained 254.03 points (0.50%) to 51,279.51. “Nifty could now face resistance at 15273, while 15092-15126 band could provide support on Friday,” Deepak Jasani, Head of Retail Research, HDFC Securities said.

Stocks in focus today:

Anupam Rasayan IPO opens: The Rs 760-crore Anupam Rasayan initial public offering (IPO) is set to open for subscription on Friday, 12 March 2021, at a price band of Rs 553-555 per share. Ahead of the IPO, the speciality chemical company raised Rs 225 crore from anchor investors.

Infosys BPM, the business process management arm of Infosys, announced a five-year extension to its strategic collaboration with Newmont Corporation, the world’s largest gold mining company, to standardize and digitize delivery models across its mine sites.

AstraZeneca Pharma: AstraZeneca Pharma India on Wednesday said it has received marketing approval from the Drugs Controller General of India (DCGI)Â for its product for the treatment of non-small cell lung cancer.

Reliance Industries Ltd: IndoSpace informed that it has acquired 55 acres at Farukhnagar in Haryana as part of a joint venture with Reliance Industries Ltd’s (RIL) subsidiary, Model Economic Township (METL). The land has a development potential of 1.28 million sq ft (MSF) and allows the warehouse developer to expand its footprint in Delhi NCR to over 480 acres across eight parks.

CIL is likely to receive Rs 660 crore this fiscal as a net quality bonus for supplying better coal than the declared grade as it already stands to receive Rs 571 crore on this account as of January this year.

Prestige Estates Projects: Prestige on Wednesday said it has concluded the first phase of the Rs 9,160-crore deal with Blackstone under which the real estate developer is selling a large portfolio of office, retail and hotel properties to the global investment firm.

Care Ratings has downgraded two Srei group companies to the default grade on facilities worth Rs 29,240 crore. Care Ratings has downgraded two Srei group companies to the default grade on facilities worth Rs 29,240 crore.

The Reserve Bank of India (RBI) on Wednesday said IDBI Bank has been taken out of the prompt corrective action (PCA) framework, subject to specific conditions. IDBI Bank’s exit from PCA is a crucial step towards carrying out the government’s bank privatisation programme, as it is one of the lenders identified for sale.