My Newsfeed

Phoenix Mills, Supreme Industries,Grindwell Norton, and Avanti Feeds are trading with higher volumes as compared to Wednesday.

ICICI Securities maintains a ‘Buy’ rating on Axis Bank with a target price of Rs 1,050, indicating an upside of 40%. The brokerage is bullish on the company’s acquisition of Citibank’s consumer business in India. It expects the acquisition to give the company access to a huge retail base, an affluent and profitable consumer base, and strategic synergy benefits over the medium term.

Reliance Industries' telecom arm Reliance Jio lost 94 lakh subscribers MoM for the second consecutive month in January 2022, according to data from the Telecom Regulatory Authority of India. On the other hand, Bharti Airtel added 7 lakh subscribers to its overall subscriber base.

Veranda Learnings Solutions’ Rs 200-crore IPO gets bids for 3.53X of the available 1.2 crore shares on offer on the third day of bidding. Retail investors quota gets bids for 10.76X of the available 15.4 lakh shares. The offer comprises entirely of a fresh issue of Rs 200 crore.

Hariom Pipes' Rs 130.1-crore IPO gets bids for 1.48X of the available 85 lakh shares on offer on the second day of bidding. Retail investors put in bids for 3.55X of the available 29.75 lakh shares. The offer comprises entirely of a fresh issue of Rs 130.1 crore.

BOB Capital Markets maintains a ‘BUY’ rating on Aurobindo Pharma with a target price of Rs 850, indicating an upside of 20%. The brokerage maintains a positive outlook on the company as its acquisition of Veritaz Healthcare allows the company to foray into the domestic formulation business. However, the brokerage awaits better clarity on the strategy and financial planning post-acquisition before incorporating Veritaz into their estimates.

Max Healthcare Institute is trading with more than sixty-nine times its weekly average trading volume.IIFL Wealth Management, Edelweiss Financial Services, ABB India and KEI Industries are trading at more than four times their weekly average trading volumes.

Ashoka Buildcon wins bid to develop six lanes access-controlled greenfield highway from Baswantpur to Singond from National Highways Authority of India. The accepted bid cost for the project is Rs 1,079 crore.

Competition commission of India conducts an enquiry in the offices of tyre makers like Apollo Tyres, Ceat and Continental AG. The enquiry is in relation to suspicion of unfair trade practices carried on by these companies in the state of Haryana.

IIFL Wealth Management rises as Bain Capital is set to buy 2.2 crore or 24.98% stake in the company from Fairfax India Holdings. The total consideration for this stake acquisition will be close to Rs 3,680 crore.

Tejas Networks is rising as it is set to acquire a 64.4% stake in semiconductor firm Saankhya Labs for Rs 283.94 crore in an all-cash deal. The company expects the acquisition to enhance its wireless offerings and increase its customer base in India and the international markets.

Info Edge’s wholly-owned subsidiary, Allcheckdeals India, invests Rs 137.1 crore in 4B Networks. Allcheckdeals plans to strengthen its offering in the real estate segment by providing a new platform for real estate industry professionals via the 4B network’s broker network platform.

Axis Bank to acquire Citibank India’s retail business for Rs 12,235 crore in an all-cash deal. The deal includes Citibank’s credit card, retail banking, wealth management, and consumer loan business. The deal also includes the sale of consumer business of its non-banking financial company (NBFC), Citicorp Finance (India).

NHPC, AIA Engineering, KPR Mill, and Indo Count Industries Express are trading with higher volumes as compared to Tuesday.

Veranda Learnings Solutions’ Rs 200-crore IPO gets bids for 1.3X of the available 1.2 crore shares on offer on the second day of bidding. Retail investors quota gets bids for 7X of the available 15.4 lakh shares. The offer comprises entirely of a fresh issue of Rs 200 crore.

Hariom Pipes' Rs 130.1-crore IPO gets bids for 67% of the available 25.5 lakh shares on offer on the first day of bidding. Retail investors quota gets bids for 1.88X of the available 29.75 lakh shares. The offer comprises entirely of a fresh issue of Rs 130.1 crore.

Uma Exports' Rs 60-crore IPO gets bids for 7.7X of the available 92.3 lakh shares on offer on the last day of bidding. Retail investors quota gets bids for 10.1X of the available 63.6 lakh shares. The offer comprises entirely of a fresh issue of Rs 60 crore.

Music label firm Saregamahits the upper circuit after its board of directors approves hiving off its e-commerce distribution, publication and other non-core businesses into a separate entity - Digidrive Distributors. This business involves the sale of its physical products including portable music player Carvaan. It generated revenues of just Rs 17.4 crore in FY21.

Axis Securities initiates coverage on Aptus Value Housing Finance India with a ‘Buy’ rating and a target price of Rs 400, indicating an upside of 27%. The brokerage believes the company is well placed to benefit from the rapidly growing affordable housing market due to its deep penetration in rural South Indian markets, industry-leading profitability, and improving asset quality trends.

Tata Coffee is trading with more than fifteen times its weekly average trading volume. General Insurance Corporation of India, Nesco, Phoenix Mills, and Mastek are trading at more than four times their weekly average trading volumes.

IDBI Bank's board approves the divestment of its stake in National Securities Depository (NSDL) and Ageas Federal Life Insurance Company (AFLI). This willl include the divestment of the bank's stake of up to 11.1% in NSDL through a market-driven process. The stake in AFLI --20 lakh shares--will be sold to Ageas Insurance International NV (Ageas) pursuant to the exercise of a call option by Ageas.

Edelweiss maintains a ‘BUY’ rating on Balaji Amines with a target price of Rs 4,150, indicating an upside of 40.7%. The brokerage has a positive outlook on the company as it increased the production capacity of the propylene glycol and dimethyl carbonate chains. The brokerage expects the company’s revenue to grow at 23.7% over FY22-FY24.

Bharat Electronics signs two contracts worth Rs 3,102 crore with Ministry of Defence, Government of India. The contracts include supply of advanced electronic warfare suite for fighter aircraft and instrumented electronic warfare range for the Indian Air Force.

Oil And Natural Gas Corporation (ONGC) is falling as the Center is set to sell 1.5% of its stake in the company to raise about Rs 3,000 crore. The offer for sale (OFS) opens on March 30-31 with a minimum of 25 % of the shares reserved for mutual funds and insurance companies. The Centre currently owns a 60.41 % stake in ONGC which produces half of India's oil and gas.

Strides Pharma Science's Managing Director and CEO R Ananthanarayanan resign. His resignation will be effective from March 31, 2022.

Tata Consumer Products (TCPL) announces merger of all businesses of Tata Coffee (TCL) with itself as a part of its reorganization plan. TCL’s plantation business will first be de-merged into TCPL’s wholly-owned subsidiary TCPL Beverages & Foods (TBFL). TCPL will issue one equity share for every 22 equity shares of TCL to TCL’s shareholders in accordance with their share entitlement ratio. Following the de-merger, the remaining business of TCL will be merged with TCPL.

Procter & Gamble Health, KEI Industries, Sudarshan Chemical Industries, and Blue Dart Express are trading with higher volumes as compared to Monday.

Hero MotoCorp is falling as reports suggest the Income Tax Department found more than Rs 1,000 crore bogus expenses and over Rs 100 crore cash transactions for a farmhouse in Delhi.

Veranda Learnings Solutions' Rs 200-crore IPO gets bids for 74% of the available 1.2 crore shares on offer on the first day of bidding. Retail investors quota gets overbid by 4.2X of the available 15.4 lakh shares. The offer comprises entirely of a fresh issue of Rs 200 crore.

Uma Exports Rs 60-crore IPO gets oversubscribed by 4.2X of the available 92.3 lakh shares on offer on the second day of bidding. Retail investors quota gets over bid by 5.6X of the available 63.6 lakh shares. The offer comprises entirely of a fresh issue of Rs 60 crore.

Fertilizer stocks like Madras Fertilizers, Rashtriya Chemicals & Fertilizers, National Fertilizers, and Gujarat State Fertilizer & Chemicals among others are rising in trade. The broader sector of fertilizer is also trading in the green.

Axis Securities maintains a ‘Buy’ rating on Healthcare Global Enterprises with a target price of Rs 330, indicating an upside of 21%. The brokerage has a positive outlook on the company due to its rising average occupancy rates, increasing average revenue per occupied bed (ARPOB), and its strong network in the oncology industry with high-end works and reasonable prices.

Rashtriya Chemicals & Fertilizers is trading with more than eight times its weekly average trading volume. Vaibhav Global, AIA Engineering, National Fertilizers, and Rallis India are trading at more than three times their weekly average trading volumes.

Media stocks like Inox Leisure, Network 18 Media & Investments, TV18 Broadcast, and PVR among others are falling in trade. The broader sectoral index Nifty Media is also trading in the red.

G R Infraprojects wins bid for four laning existing two lane stretches from Govindpur to Rajura and Bamni to the Maharashtra-Telangana border. The company is the lowest bidder for the project at Rs 1,744 crore

ICICI Securities maintains a 'BUY' rating on Bharti Airtel with a target price upside of 17.3%. The brokerage is positive on the telecom major as it believes that tariff hike flow through will boost Bharti's EBITDA by 20% in FY23. Additionally, emerging products like Data Centre, IoT, Security, CPaaS, and NaaS hold a future growth potential of 25% CAGR.

Power Grid Corporation of India's board approves investment in a total of five projects worth Rs 821.3 crore. Major investment projects include the strengthening of the transmission system for Srinagar-Leh sector at an estimated cost of Rs 288.7 crore.

Aurobindo Pharma acquires the domestic formulation business of Veritaz Healthcare on a slump sale basis at a consideration of Rs 171 crore on a debt-free cash-free basis. The company expects the acquisition to act as a launchpad for marketing biosimilar and other products in India.

Veranda Learnings raises Rs 46.75 crore from investors by selling 34.12 lakh shares at Rs 137 per share to anchor investors, including AG Dynamics Fund, Resonance Opportunities Fund, and Next Orbit Ventures.

Securities and Exchange Board of India (SEBI) instructs Ruchi Soya to provide an option to FPO (follow-on public offering) investors to withdraw their bids due to circulation of unsolicited text messages advertising the issue. The window for withdrawal is available between March 28 - March 30. Ruchi Soya’s Rs 4,300 crore FPO was oversubscribed 3.6X on the final day of bidding.

Cholamandalam Financial Holdings, Gland Pharma, TeamLease Services, and Vakrangee are trading with higher volumes as compared to Friday.

GAIL surges in trade as its board will mull a buyback of equity shares in its meeting to be held on Thursday.

Sharekhan maintains a ‘BUY’ rating on Laurus Labs with a target price of Rs 735, indicating an upside of 24.6%. Reports suggest that the brokerage has a positive outlook on the company as it is strengthening its presence in the biologics segment. The brokerage expects the active pharmaceutical ingredient (API) revenue to normalize in Q1FY23.

Motilal Oswal maintains a ‘Buy’ rating on State Bank of India and reduces the target price from Rs 725 to Rs 675, indicating an upside of 39%. The brokerage lowers the target price on account of the rising rate environment lowering treasury gains. The brokerage remains bullish on the company’s revival in loan growth, robust asset quality trends, and controlled funding costs.

Uma Exports Rs 60-crore IPO gets oversubscribed by 2.14X of the available 92.3 lakh shares on offer on the first day of bidding. Retail investors quota gets over bid by 2.9X of the available 63.6 lakh shares. The offer comprises entirely of a fresh issue of Rs 60 crore.

G R lnfraprojects wins bid to construct four lane greenfield expressway from Delhi to Vadodara. The company is the lowest bidder for the project at Rs 1,386 crore.

Gujarat Alkalies & Chemicals is trading with more than five times its weekly average trading volume. Aster DM Healthcare, Inox Leisure, EIH, and PVR are trading at more than three times their weekly average trading volumes.

DLF is set to invest Rs 2,000 crore in construction of two new shopping malls in Gurgaon and Goa, according to a news report. The realty major is bullish on the revival of organized retail sector in India post the waning of third Covid wave.

Wipro approves second interim dividend payment of Rs 5 per equity share for FY22. Total payout amounts to Rs 2,000 crore. The record date is April 6, 2022.

IndiaMART InterMESH announces acquisition of a 51% stake in software-as-a-service (SAAS) firm Livekeeping for Rs 45.98 crore in an all-cash deal. The company expects the investment to aid it in achieving its long-term objective of offering various SAAS-based solutions for businesses.

Aster DM Healthcare is rising as it signs a memorandum of understanding (MOU) with the government of Tamil Nadu on Saturday in Dubai, UAE. With the signing of this MOU, the company intends to invest up to Rs 500 crore into developing hospitals, pharmacies, and laboratories in Tamil Nadu.

Emami announces acquisition of the Dermicool brand from Reckitt for a total consideration of Rs 432 crore. Dermicool is one of the leading brands in the prickly heat powder and cool talcum category. The acquisition will be funded through internal accruals and is subject to customary closing conditions.

Multiplex chains PVRand Inox Leisure are set to merge, creating India’s largest film exhibition entity with a network of more than 1,500 screens. According to the merger terms, shareholders holding 10 shares of Inox will get 3 shares of PVR in exchange. The combined entity will add nearly 180-200 screens every year from hereon.

Bajaj Holdings & Investment, Ujjivan Small Finance Bank, Max Healthcare Institute, and IIFL Finance are trading with higher volumes as compared to Thursday.

Torrent Power announces the completion of the acquisition of a 50 MW solar power plant from Lightsource bp and UKCI for an enterprise value of Rs 300 crore.

Consumer facing companies are trading in red with stocks like Titan Company, Whirlpool of India, Voltas, Crompton Greaves and Bajaj Electricals falling. The broader sectoral index i.e. BSE Consumer Durables is also down today.

Inox Leisure surges to touch its 52-week high of Rs 479.45 as the business outlook improves on the easing of pandemic-related restrictions with a strong content line-up for the next few months.

Sugar stocks like Balrampur Chini Mills, Dhampur Sugar Mills, Andhra Sugars, Uttam Sugar Mills among others are falling as reports suggest that India could cap sugar exports to meet domestic demand. India is considering restrictions on sugar exports for the first time in six years and may cap exports at around eight million tonnes.

Axis Securities initiates coverage on G R Infraprojects with a ‘BUY’ rating and a target price of Rs 1,775, indicating an upside of 23%. The brokerage has a positive outlook on the company as it has a cumulative order book of Rs 16,692 crore with comfortable revenue visibility for the next 2 years. The brokerage expects the company’s revenue to grow a 12% CAGR over FY22-FY24

Bharti Airtel prepays Rs 8,815 crore to clear deferred liabilities for spectrum acquired in 2015, the prepayment is for installments due in FY2027 and FY2028. Over the last four months, the company has cleared Rs 24,334 crore of its deferred spectrum liabilities ahead of schedule.

Container Corporation of India is trading with more than nine times its weekly average trading volume. Poly Medicure, Tata Teleservices (Maharashtra),Muthoot Finance, and EIH are trading at more than four times their weekly average trading volumes.

G R Infraprojects receives a letter of award from the National Highways Authority of India for a new highway project in Madhya Pradesh for a total length of 69.1 Km. The bid cost of the project is Rs 907 crore.

Zen Technologies is rising as it receives a project sanction order (PSO) from the Indian Army. The project includes the design and development of a prototype of the Integrated Air Defence Combat Simulator (IADCS). The prototype is to be made ready for user trial readiness review (UTRR) within a period of 30 weeks.

Moody’s Investors Service's report suggests that fuel retailers like Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation are losing Rs 19,000 crore in revenue. This is because of constant prices of petrol and diesel from November 4, 2021 – March 21, 2022, despite the rise in crude oil prices. The companies are losing over Rs 1,900 per barrel with the current market prices.

Lumax Auto Technologies receives approval for application under component champion incentive scheme of production linked incentive scheme for automobile and auto component industry.

Chloride Metals, a wholly-owned subsidiary of Exide Industries, starts commercial production at its new green field manufacturing facility of battery recycling in the state of West Bengal. The 21-acre recycling plant has a total installed capacity of 1,08,000 MT p.a.

Canada Pension Plan Investment Board sells a 2.01% stake (4 crore shares) of Kotak Mahindra Bank on Thursday. This bulk deal is worth Rs 6,800 crore.

V-Guard Industries, Kalpataru Power Transmissions, Prism Johnson, and Cholamandalam Financial Holdings trading with higher volumes as compared to Wednesday.

Emkay Global recommends a ‘Buy’ on State Bank of India with a target price of Rs 680 as it expects credit growth to be around 9-10% in FY22. The brokerage also sees the bank’s operating profit to increase by CAGR 20% over FY22-24 led by rise in net interest income and fee income.

Media stocks like Zee Entertainment, Dish TV India, TV18 Broadcast, Network 18 Media & Investments among others are rising in trade. The broader sectoral index Nifty Media is also rising in trade.

Lupin is rising as it receives US Food and Drug Administration (USFDA) approval for its abbreviated new drug application (ANDA), Sildenafil for oral suspension, 10 mg/mL. The product is a generic equivalent of Revatio, which has an estimated annual sales of $66 million in the US. Sildenafil is used to treat pulmonary arterial hypertension.

HCL Technologies ties-up with Latin American company NEORIS, a leading global digital accelerator, to strengthen its digital transformation capabilities and expand its market presence in Mexico and South America

Indraprastha Gas increases the prices of compressed natural gas by Rs 0.50 per kg and piped natural gas by Rs 1 per standard cubic metre for Delhi with effect from today. This is the third price hike after the company hiked gas prices back in October 2021 and January 2022.

Bajaj Holdings & Investment is trading with more than nine times its weekly average trading volume. SIS, Minda Corporation, Kotak Mahindra Bank, and Zee Entertainment Enterprises are trading at more than five times their weekly average trading volumes.

Ruchi Soya is falling as its Rs 4,300 crore follow-on public offering (FPO) opens for subscription. The company raises Rs 1,290 crore from anchor investors ahead of its FPO. At the upper end of the price band of Rs 650, the company’s FPO is available at more than a 40% discount to its current market price.

Pharma stocks like Dr. Reddy's Laboratories, Aurobindo Pharma, Lupin, and Glenmark Pharmaceuticals are rising in trade. The broader sectoral index Nifty Pharma is also trading in the green.

Sharekhan maintains a ‘Buy’ rating on APL Apollo Tubes with a target price of Rs 1,100 indicating an upside of 28%. The brokerage believes the company’s investment in Shankara Building Products’ can potentially double its sales and improve its volumes as it will be able to use extensive retail and wholesale network. The brokerage expects the company to expand distribution into untapped markets through its investment.

Zee Entertainment surges as Invesco Developing Markets Fund (Invesco) withdraws its requisition notice, seeking the removal of MD and CEO Punit Goenka from the board of the company. Invesco withdraws its notice a day after winning its appeal in the Bombay High Court. Invesco is the largest shareholder in the company with a stake of 18%.

Motilal Oswal maintains a ‘BUY’ rating on Ajanta Pharma with a target price of Rs 2,500, indicating an upside of 29%. However, the brokerage reduces the target price by 10% as it expects the slow pace of abbreviated new drug application (ANDA) filings to hinder growth over the medium term. The brokerage remains positive on the long term on the back of robust outlook in the Branded Generics segment.

RBI approves SBI Mutual Fund, along with other SBI Group companies for acquiring 9.99% stake in ICICI Bank. SBI Mutual Fund holds 5.72% stake in ICICI Bank, till December 2021.

AIA Engineering, J B Chemicals & Pharmaceuticals, CSB Bank, and SKF India trading with higher volumes as compared to Tuesday.

Motilal Oswal maintains a ‘Neutral’ rating on Nestle India and increases the target price to Rs 18,700 from Rs 18,085, indicating an upside of 5%. The brokerage believes the company is well placed to capitalize on immense growth opportunities due to its strong brand and distribution strength. The brokerage finds the long-term narratives for earnings growth to be very attractive.

ICICI Direct initiates coverage on Star Health and Allied Insurance with a ‘Buy’ rating and target price of Rs 800, indicating an upside of 23%. The brokerage expects the company to maintain its market dominance due to its focus on product innovation, competitive pricing, and a strong distribution push.

Mtar Technologies gets declared lowest bidder by NPCIL for fuel transfer system of reactors and FM bridge & carriage assemblies of nuclear reactors. The total value of projects is approximately Rs 135 crore.

Hero MotoCorp is falling on the bourses as Income Tax Department conducts search operations at the company’s 25 premises for suspected tax evasion. According to reports, the search operation is ongoing at the offices and residences of Hero MotoCorp senior management in Delhi, Gururgram, and in other parts of North India

Indian Hotels’ stock surges as its qualified institutional placement (QIP) committee of the board approves its QIP issue. The company plans to mobilize around Rs 2,000 crore through the QIP and has fixed the floor price at Rs 203.48 per share.

V-Guard Industries is trading with more than seven times its weekly average trading volume. Jyothy Labs, TeamLease Services, Zydus Wellness, and Gland Pharma are trading at more than three times their weekly average trading volumes.

SBI Life Insurance announces an interim dividend of Rs 2 per share for FY22. The total payout amounts to Rs 200 crore. The record date is March 30, 2022.

Adani Ports & SEZ records cargo volumes of 300 million tonnes on a year to date basis in FY22. APSEZ had achieved the target of handling 200 million tonnes of cargo three years back. The company is all set to reach the volumes milestone of 500 million tonnes by 2025, according to its latest press release.

SBI Cards and Payments announces an interim dividend of Rs 2.50 per share for FY22. The total payout amounts to Rs 235.8 crore. The record date is March 31, 2022.

Infosys announces acquisition of Oddity, a Germany-based digital experience and marketing agency, for Rs 419 crore in an all-cash deal. The company expects the acquisition to bolster its creativity, branding, and experience design capabilities.

Piramal Capital and Housing Finance (PCHFL) initiates bankruptcy proceedings against Reliance Power and its subsidiary Reliance Natural Resources (RNRL) on default of Rs 526-crore loan. The housing finance company acquired Dewan Housing Finance (DHFL) for a total consideration of Rs 34,250 crore in 2021, merging it with PCHFL. DHFL went bankrupt as it owes more than Rs 90,000 crore to various lenders.