The Indian equity market is likely to open in the green today as SGX Nifty was trading 64 points higher at 17,215. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
Benchmark indices snapped two sessions of gaining streak on Monday as rising oil prices played spoilsport amid prolonged Russia-Ukraine war. Sensex plunged 571.44 points to close at 57,292.49.
During the day, it crashed 634.85 points or 1.09 per cent to 57,229.08. Nifty declined 169.45 points or 0.98 per cent to end at 17,117.60.
Power Grid, Asian Paints, UltraTech Cement, Nestle, Hindustan Unilever Limited and HCL Technologies were among the top Sensex losers, falling up to 2.93%.
Here's a look at stocks that are likely to remain in news today.
Wipro: The technology company will consider interim dividend on March 25.
Deepak Nitrite: ICRA has upgraded the long term rating from 'AA-' to 'AA', and re-affirmed the short term rating at 'A1+' for Rs 756.27 crore bank facilities of Deepak Phenolics, a wholly owned subsidiary of the company. The outlook on the long-term rating has been revised to positive from stable.
Sun Pharma: The firm said it has entered into a share purchase agreement with Japan's Daiichi Sankyo Company to acquire the latter's 11.28 per cent stake in Zenotech Laboratories. Sun Pharma said it will pay Rs 5.32 crore for the stake.
Zomato: Online food aggregator Zomato on Monday said it will soon launch 'Zomato Instant' for delivery of food within 10 minutes. The company will pilot Zomato Instant with four stations in Gurugram from next month onwards. In a blog, Zomato CEO Deepinder Goyal said customers are increasingly demanding "quicker answers to their needs", and that sorting restaurants by fastest delivery time is one of the most used features on the Zomato app.
REC: The company's board cleared the market borrowing programme of Rs 85,000 crore under different debt segments for the financial year 2022-23.
Equitas Small Finance Bank: The board has approved a Scheme of Amalgamation between Equitas Holdings and Equitas Small Finance Bank.
NHPC: Life Insurance Corporation of India offloaded a 2.03 percent stake in the company through open market transactions. After the transaction, LIC's stake in the power generation company stands at 7.23 percent, down from 9.26 percent earlier.
Larsen & Toubro: The board on March 24 will seek approval for raising funds including through the issue of debt securities as part of the company's refinancing programme.
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today