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PSU Banks, Indian Oil Corporation, BPCL: Top Stocks for Investors on April 1

Representative image.

Representative image.

The indices on Thursday, April 1, are expected to open higher as the SGX Nifty was trading at 110.00 points or 0.75 percent up at 14,856.00.

The stock market on Wednesday, March 31, lost over 1 percent to give a negative ending, breaking the two-day gaining streak. The indices on Thursday, April 1, are expected to open higher as the SGX Nifty was trading at 110.00 points or 0.75 percent up at 14,856.00. On March 31, the BSE Sensex fell 627.43 points or 1.25 percent to close at 49,509.15. Similarly, the NSE Nifty declined 154.40 points or 1.04 percent to settle the day at 14,690.70.

Top stock to look for the day:

PSU Banks: Rs 14,500 crore capital has been infused by the government into four public sector banks namely Bank of India, Indian Overseas Bank, UCO Bank and Central Bank of India.

Indian Oil Corporation: The price of Domestic LPG has been reduced by the company by Rs 10 to Rs 809 per cylinder in Delhi.

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BPCL: OQ’s entire stake in the Bina Refinery Project in Madhya Pradesh has been acquired by the company for Rs 2,400 crore.

Axis Bank: For the sale of a 100 percent stake in its subsidiary that is Axis Bank UK Ltd to OpenPayd Holdings Ltd, the bank has entered into a share purchase agreement.

Sunteck Realty: To build a seven-acre luxury housing project in the Mumbai region the company has entered into a joint venture agreement and expects sales revenue of Rs 1,750 crore from this property over the next five years.

NHPC: The formalities for the takeover of the Rangit Stage-IV HE Project (120 MW) has been completed by the company by remitting Rs 165 crore to Jalpower Corporation (JPCL) for distribution to the creditors.

Adani Green Energy: Acquisition of 100 percent of the share capital and all the securities of Surajkiran Renewable Resources from Skypower Southeast Asia III Investments and Skypower Southeast Asia Holdings 2 Ltd has been completed by the company.

Central Bank of India: The agreement to divest its entire equity stake in Cent Bank Home Finance to Centrum Housing Finance has been cancelled by the bank.

Britannia Industries: Former RBI Governor Urjit Patel has been appointed by the company as Non-Executive, Independent Director.