Stocks to Watch: ONGC, Ruchi Soya, Hero MotoCorp, IndiGo

On Tuesday, the Sensex added 350.16 points, or 0.61%, to close at 57,863.93, while Nifty50 gained 103.30 points to end at 17,325.30.Premium
On Tuesday, the Sensex added 350.16 points, or 0.61%, to close at 57,863.93, while Nifty50 gained 103.30 points to end at 17,325.30.
 2 min read . Updated: 30 Mar 2022, 08:00 AM IST Arindam Roy

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Here is the list of the top 10 stocks that are likely to be in focus on Wednesday:

ONGC: The government will this week sell up to 1.5 per cent of its stake in the country's top oil and gas producer ONGC to raise about ₹3,000 crore. The Offer For Sale (OFS) by the government will be open on March 30 and 31, Oil and Natural Gas Corporation (ONGC) said in a stock exchange filing on Tuesday.

Tata Consumer Products: Tata Consumer Products Ltd (TCPL) on Tuesday announced the merger of all businesses of Tata Coffee Ltd with itself as part of a reorganisation plan in line with its strategic priority of unlocking synergies and efficiencies.

Ruchi Soya: Baba Ramdev-led Patanjali group's Ruchi Soya Industries on Tuesday said it has rescheduled its board meeting on March 31 to fix issue price of its ₹4,300 crore FPO (follow-on public offer) in view of markets regulator Sebi's direction to allow withdrawal of investors' bids till Wednesday.

Hero MotoCorp: Hero MotoCorp on Tuesday said it will increase prices of its motorcycles and scooters by up to ₹2,000 from April 5. Shares of Hero MotoCorp on Tuesday tumbled over 7 per cent amid reports that the I-T Department has found certain false expenses claims by the company.

Future Enterprises: Future Enterprises Ltd (FEL) on Tuesday said it has defaulted on payment of ₹19.16 crore to Punjab National Bank, Canara Bank and Union Bank of India under the one-time restructuring plan. This is the second default by FEL this month.

IDBI Bank: Private sector lender IDBI Bank on Tuesday said its board of directors has approved the rupee bond borrowing limit of ₹8,000 crore for the next fiscal year beginning April 1.

PNB: Punjab National Bank (PNB) on Tuesday said its board has approved a proposal to raise ₹12,000 crore through issuance of bonds to fund business growth.

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IndiGo: InterGlobe Aviation, parent company of IndiGo airline, on Tuesday appointed Gaurav Negi as the Chief Financial Officer (CFO) in place of Jiten Chopra who has put in his resignation, a statement said.

SBI: SBI will buyout the entire stake of over 13 per cent held by three other banking partners in SBI Global Factors Ltd (SBIGFL), the bank said on Tuesday. The other three banking partners are SIDBI, Bank of Maharashtra and Union Bank of India.

Dwarikesh Sugar Industries: Indian manufacturer of sugar co-generation of power and industrial alcohol, Dwarikesh Sugar Industries on Tuesday announced an interim dividend of ₹2 per share (200%) for the fiscal year 2021-22. Also, the company has declared a full and final dividend of ₹1. 25 per share (125%) for the previous fiscal year.

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