The stock market on Thursday, March 25, fell drastically for the second consecutive day to give a negative ending. The indices on Friday, March 26, on the contrary, are expected to open higher as at 7:30 am the SGX Nifty was trading at 197.50 points or 1.38 percent up at 14,526.00. On March 25, the BSE Sensex lost 740.19 points or 1.51 percent to close at 48,440.12. Similarly, the NSE Nifty plunged 224.50 points or 1.54 percent to settle the day at 14,324.90.
Top stock to look for the day:
Rail Vikas Nigam: More than 18.18 crore equity shares or an 8.72 percent equity stake in the company has been bought by LIC via an open market transaction on March 24. Over 15 percent stake in the company has been sold by the government via offer for sale during March 24-25.
Kalyan Jewellers: On March 26, the shares of the company will get listed on exchanges.
JSW Steel: Bhushan Power and Steel Ltd deal is likely to be closed by the company on Friday.
Sun Pharmaceutical Industries: The wholly-owned Indian subsidiary of the company has subscribed to partnership interest in ABCD
Technologies LLP (to be renamed as IndoHealth Services LLP), at Rs 40 crore.
Lupin: At Rs 40 crore, the company has agreed to subscribe to a partnership interest in ABCD Technologies LLP.
BPCL: 39.84 crore shares of Numaligarh Refinery will be acquired by Oil India for Rs 8,675.96 crore from BPCL. Also, 3.21 crore shares will be acquired by Engineers India for around Rs 700 crore.
Adani enterprises: With an objective to undertake Copper business-related activities the company has incorporated a wholly-owned subsidiary called Kutch Copper Ltd.
PowerGrid Corporation of India: Bikaner-II Bhiwadi Transco Ltd has been acquired by the company for Rs 20.50 crore.
Somany Home Innovation: For a 50 percent stake in the water heater business subsidiary of Somany Home Innovation investment of
Rs 68.3 crore will be made by Group Atlantic, France.
Den Networks: On March 26 and March 30, 5,54,85,048 equity shares or 11.63 percent stake in the company will be sold by Jio Futuristic Digital Holdings, Jio Digital Distribution Holdings and Jio Television Distribution Holdings through an offer for sale. Rs 48.50 per share have been fixed as the floor price for the sale.
Hathway Cable and Datacom: 33,79,83,855 equity shares or 19.09 percent stake in Hathway Cable will be sold by Jio Content Distribution Holdings, Jio Internet Distribution Holdings, and Jio Cable and Broadband Holdings through an offer for sale on March 26 and March 30. Rs 25.25 per share have been fixed as the floor price for the sale.