SGX Nifty50 fell 1.2 per cent to 16,853 as of 6:42 am on Thursday hinting at a negative opening for key Indian indices. After showing a sustainable upside bounce from the lower support levels on Tuesday, Indian secondary market failed to show follow-through upside move on Wednesday as Indian stock market closed in red zone for sixth straight session. NSE Nifty went off 28 points and closed at 17,063 whereas BSE Sensex shed 68 points after ending at 57,232 levels. Nifty Bank index nudged 20 points north and ended at 37,392 levels.
Here are Stock to Track in Today’s Trade:
Indus Towers
Vodafone PLC is expected to sell 2.4 per cent stake in the company worth $200 million. The stake sale will take place through a block deal today and offer range is Rs 227-231 per share, which is up to 10 per cent discount to current market price. The offer size is about Rs 1,440 crore.
“Vodafone Group Plc holds 757.8 million shares in Indus Towers Limited, equivalent to a 28.1 per cent shareholding. 190.7 million of these shares, equivalent to a 7.1 per cent shareholding, are currently pledged to Indus as part of the security arrangements entered into between Vodafone and Indus at the time of the merger of Indus Towers with Bharti Infratel,” the UK-based telco said in a disclosure to the London Stock Exchange (LSE).
Wipro
The leading global information technology, consulting and business process services company, announced its global partnership network of o9 Solutions, a leading enterprise AI software platform provider for transforming planning and decision-making.
Maruti Suzuki India
The country’s largest carmaker expects its sales momentum to continue with gradual improvement in the semiconductor supplies and demand situation remaining robust in the domestic market.
Vedanta
The Anil Agarwal led miner said its board will meet on March 2 to consider and approve third interim dividend for the current financial year. The board of directors of the company on Wednesday, March 2, 2022, will consider and approve third interim dividend on equity shares, if any, for the financial year 2021-22,.
Power Grid Corporation of India
The board of state-run power player has approved the transfer of 26 per cent residual equity in POWERGRID Vizag Transmission Ltd to PGInvIT.
Interglobe Aviation
The budget-carrier IndiGo expanded its regional flights network, adding services to Pantnagar in Uttarkahand from Dehradun and to Delhi, starting March 27, according to a statement released.
Piramal Enterprises
The board of the diversified firm will meet on Monday, February 28, to consider fund raising plans via issuance of non-convertible debentures, aggregating to Rs 400 crore.
Lupin
The drug maker said it has appointed Fabrice Egros as President, Corporate Development and Growth Markets. Egros takes over the corporate development role from Alan Butcher who is departing from the company on February 28, 2022.
Dabur India
The FMCG major announced a partnership with Indian Oil Corporation, as part of which the state-owned refiner’s LPG distributors will become retail business partners for the homegrown FMCG major. This partnership will provide direct access to Dabur’s range of products to around 14 crore Indane LPG consumer households across India.
TVS Motor Company
The two wheeler manufacturer said it has crossed the 10-lakh two-wheeler export milestone in the current financial year. The company said it has achieved this significant export milestone in a financial year for the first time.
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