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Share Market News: BPCL, Reliance, Future Retail, Indian Bank, HPCL, HUDCO will be in focus

Shares of BPCL, Reliance, Future Retail, Indian Bank, HPCL, HUDCO, Kotak Mahindra Bank, SBI Cards, Power Finance Corporation and Max Financial Services will be in focus in Wednesday's trading session

twitter-logoBusinessToday.In | March 10, 2021 | Updated 09:27 IST
Share Market News: BPCL, Reliance, Future Retail, Indian Bank, HPCL, HUDCO will be in focus
Stocks to watch today: Reliance, Future Retail, Indian Bank, HPCL, HUDCO, Kotak Mahindra Bank, SBI Card, BPCL

The BSE Sensex and NSE Nifty are likely to open higher on Wednesday on the back of positive global cues firm trading at Nifty futures on the Singapore Exchange. The SGX Nifty was trading 118 points or 0.78 per cent higher at 15,263.50, indicating a positive start at Dalal Street. Among the individual stocks, shares of BPCL, Reliance, Future Retail, Indian Bank, HPCL, HUDCO, Kotak Mahindra Bank, SBI Cards, Power Finance Corporation and Max Financial Services and others will be in focus in Wednesday's trading session.

Also read: Stock Market Updates Today: Sensex opens 363 pts higher, Nifty above 15,200; BPCL, Reliance in focus

Stocks to watch today: Here is a list of top stocks that are likely to be in focus in Wednesday's trading session.

Reliance Industries Ltd: The telecom arm of Reliance Industries Ltd (RIL), Reliance Jio, has rolled out integrated fibre connectivity and digital solutions for medium, small and micro businesses (MSMBs) under JioBusiness. The service offers enterprise-grade voice and data services, digital solutions and devices to small businesses.

Bharat Petroleum Corporation Ltd: BPCL shares will be in focus on Wednesday's trade after BPCL Trust sold shares worth over Rs 5,525 crore in state-owned oil company through an open market transaction. BPCL Trust sold over 12.60 crore shares of BPCL at a price of Rs 438.41 apiece, according to a bulk deal on the National Stock Exchange (NSE).

Future Group: Shares of Future Group will be in focus as Reliance Industries has reportedly agreed to extend operational support to Future Retail Ltd to avoid the collapse of debt-laden company. The Rs 24,713 crore Reliance-Future Retail deal has struck in legal battle with Amazon.

Kotak Mahindra Bank: Kotak Mahindra Bank has said that its board will meet on March 12 to take a call on the payment of dividend on 8.10 per cent non-convertible perpetual non-cumulative preference shares with a face value of Rs 5 each.

Indian Bank: State-owned lender has said its committee of directors has given nod to raise up to Rs 4,000 crore through share sale. Shareholders of the bank on 2 March had given approval for raising capital through qualified institutions placement (QIP) in one or more tranches.

HPCL: Hindustan Petroleum Corporation Limited (HPCL) will set up a compressed biogas (CBG) project at Badaun in Uttar Pradesh. The plant, that will have the capacity to generate 5,250 tonne of compressed biogas, will be developed by Praj Industries, the Pune-based process and project engineering company.

SBI Cards and Payment Services Ltd: A subsidiary of SBI, SBI Cards and Payment Services plans to raise up to Rs 2,000 crore through the issuance of debt securities in one or more tranches. The company's board will take a final call on the proposal in its meeting on March 12.

HUDCO: Fitch Ratings affirmed the state-run company's long-term foreign and local-currency issuer default ratings at 'BBB-'. The rating on HUDCO's Rs 5,000 crore medium-term note programme has also been affirmed at 'BBB-'.

Power Finance Corporation Ltd: The state-controlled financial company has set 22 March as the record date to ascertain the eligibility of shareholders for the payment of interim dividend for financial year 2020-21.

Max Financial Services Ltd: The promoter of the company, Max Ventures Investment Holdings, sold 9.34,138 shares or 0.27 per cent stake in Max Financial Services Ltd through open market operations. Following the stake sale, Max Ventures' shareholding in the company came down to 16.99 per cent.

Also read: Top gainers today: 6 shares rise up to 4%; Kotak Mahindra Bank, HDFC Bank, ICICI Bank, HDFC, Bajaj Finance

Also read: Stock Market Highlights: Sensex gains 581 pts to end above 51k, Nifty at 15,098; bank, IT stocks lead rally

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