Stocks in news: Paytm, Adani Power, Indian Oil, M&M and more

The Indian equity market is likely to open in the green today as SGX Nifty was trading 259 points higher at 16,894.80. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

Benchmark indices Sensex and Nifty resumed their rally on Wednesday after a single-session fall as global markets awaited a widely anticipated decision by the US Federal Reserve on interest rate policy.

Sensex closed at 56,816, higher by 1,039 points, and Nifty gained 312 points to 16,975. UltraTech Cement, Axis Bank, IndusInd Bank and HDFC were among the top Sensex gainers, rising up to 4.69 per cent. BSE mid-cap and small-cap indices gained 417 points and 395 points, respectively.

Here's a look at stocks in focus today.

Paytm: Macquarie has reduced the target price on Paytm's  parent One97 Communications to Rs 450 from Rs 700  and retained an underperform rating. Macquarie said globally fintech companies have corrected sharply.

 Mahindra & Mahindra: The company said it will raise its stake in Carnot Technologies to 52.69 per cent with an investment of around Rs 14 crore. M&M currently holds 15.60 per cent of the equity share capital of Carnot Technologies.

Share Market LIVE: Sensex, Nifty likely to open higher today

Yasho Industries: The board of specialty and fine chemicals maker has given its nod for a capital expenditure of Rs 350 crore in Phase 1 for its greenfield project at Pakhajan (Dahej), Gujarat. The company plans to manufacture lubricant additives and rubber chemicals with a total capacity of 15,500 MT per annum in phase 1 at this new facility.  

Indiabulls Housing Finance: The board on March 22 will consider fund-raising through bonds, in one or more tranches, on a private placement basis.

Oil India: The firm said its subsidiary Numaligarh Refinery would invest Rs 6,555 crore for implementation of the petrochemical project at Numaligarh, Assam.

IOC: Indian Oil Corporation has bought as much as 3 million barrels of crude oil that Russia had offered at a steep discount to prevailing international rates, sources said. The purchase, made through a trader, is the first since Russia's February 24 invasion of Ukraine that brought international pressure for isolating the Putin administration.

JSW Energy: The company said JSW Renew Energy (Kar), JSW Renewable Energy (Dolvi), JSW Energy (Kutehr) and JSW Hydro Energy have become wholly owned subsidiaries of JSW Neo Energy (JSWNEL).

Adani Power: The company has completed the acquisition of Essar Power's 1,200 MW thermal power project in Mahan, Madhya Pradesh. The cost of acquisition of Essar Power MP, which is undergoing insolvency resolution, is over Rs 4,250 crore, including estimated cost of compliance with environmental and emission norms.

 Reliance Capital: The company's chief executive officer Dhananjay Tiwari has resigned. The date of his cessation is March 15, 2022, the company said in a regulatory filing, without citing the reason for Tiwari's resignation.

PNC Infratech: The company has received Rs 82.68 crore as a bonus from Uttar Pradesh Expressways Industrial Development Authority for the early completion of its project.