The benchmark indices are likely to start Tuesday's session on a weak note extending the losing streak of three days. The SGX Nifty futures were around 100 points lower this morning from their previous close.
Here are some of the stocks that may see action today:
Future Group companies : Companies under the Future group would convene meetings of their respective shareholders and creditors between April 20 and April 23, 2022 to get their approval for the proposed Rs 24,713 crore deal with Reliance Retail. Listed Future Group entities such as Future Consumer Ltd updated the exchanges about the dates of the meetings
Dish TV: The market regulator, the Securities & Exchange Board of India (Sebi) has asked the satellite television broadcaster, Dish TV India to disclose the results of its shareholders meeting held in December last year within 24 hours. The regulator has also issued show cause notices to company’s directors asking why the meeting results have not been disclosed so far despite repeated advisories from the regulator.
TCS: Tata Consultancy Services (TCS) on Monday said its Rs 18,000-crore share buyback offer will open on March 9 and close on March 23. On February 12, the company announced the share buyback programme entailing 4 crore shares at Rs 4,500 apiece.
Further, Bloomberg reported that the company plans to overhaul its organisational structure with specialised groups targeted to help startups as well as large global firms as it gears up to double its revenues to $50 billion before 2030.
L&T: In line with its strategy to grow its presence in the services business, Larsen & Toubro on Monday announced the launch of L&T-SuFin an integrated e-commerce platform for B2B industrial products and services. With over eight decades of experience in the manufacturing and EPC projects, L&T has developed the platform to target MSMEs in order to enable them to source their industrial supplies pan-India, digitally.
Dodla Dairy: The company’s board has approved purchase of Asset/business/Plant & Machinery up to Rs.55 Crores.
The board has also reviewed and approved funding for Wholly owned subsidiary to provide loan/ Guarantee/investment in equity or any other funding to Orgafeed Private Limited up to Rs 40 Crores. similarly, it has given nod for funding stepdown subsidiary Dodla Dairy Kenya Limited, for up to Rs 40 Crores.
Natco Pharma: The company, along with its marketing partner Arrow International Ltd (an affiliate of Teva Pharmaceutical Industries Ltd), have announced the launch of the first generic version of Revlimid (Lenalidomide capsules) in four strengths in the U. S. market.
ICICI Bank: Private sector lender ICICI Bank is planning to raise up to Rs 8,000 crore through infrastructure bonds to finance projects in the transport and power and affordable housing sectors.
OMCs: Petrol and diesel prices are likely to be hiked this week as oil companies prepare to pare losses accumulated from keeping rates steady for over four months in the run-up to assembly elections in five states, including UP.
IIFL Wealth: Fairfax Financial Holdings Ltd., the Canadian investment firm run by Prem Watsa, is exploring the sale of its stake in financial firm IIFL Wealth Management Ltd., according to people familiar with the matter.
Manappuram Finance: The Board of Directors will be meeting on Thursday, March17, 2022 to consider and approve: Borrowing program including issuance of redeemable non-convertible debentures, notes, bonds (Debt Securities) in onshore/offshore for FY 2022-23
NLC India: The board has declared an Interim Dividend of 15 per cent (i.e. Rs 1.50 per equity share) for the Financial Year 2021 -22. Interim Dividend will be paid to shareholders on or before April 5, 2022.
Metro Brands: the company also has declaraed Interim Dividend at Rs. 1.50 per Equity Share on the face value of the paid-up equity shares of Rupees 5/- each for FY 21-22. Further, Saturday, March 19, 2022, shall be reckoned as the ‘Record Date’ for the purpose of ascertaining the eligibility of shareholders for payment of Interim Dividend for the FY 2021-22.
Sun Tv: Sun TV's board has also declared an Interim Dividend of Rs. 5/- per equity share of Rs. 5/- each (i.e. 100%) for the financial year 2021-22.
Shilpa Medicare: India Ratings & Research (Ind-Ra) has affirmed Shilpa Medicare Limited’s Long-Term Issuer Rating at ‘IND A+’.
Amara Raja Batteries: Pertaining to the closure orders from Andhra Pradesh Pollution Control Board (APPCB), for the company’s plants situated at Karakambadi, Tirupati and Nunegundlapalli Village, Chittoor District, Andhra Pradesh, the High Court of Andhra Pradesh has extended the interim suspension of said closure orders of APPCB by two weeks. The next hearing is scheduled on March 11, 2022.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU