Following Tuesday’s negative closing trend of stock market amid high volatility for the third consecutive session, the indices on Wednesday are expected to give a flat opening as the SGX Nifty was trading at 23.50 points or 0.16 percent higher at 14,995.50 at 7:31 am. The BSE Sensex had shed 31.12 points or 0.062 percent to close at 50,363.96 on Tuesday. Similarly, the NSE Nifty fell 19.05 points or 0.13 percent to settle the day below 15,000 mark at 14,910.45.
Top stock to look for the day:
State Bank of India (SBI): A penalty of Rs 2 crore has been imposed by the Reserve Bank of India on the SBI over deficiencies in regulatory compliance.
Vedanta: Open offer price has been raised by Vedanta Resources PLC for buying Vedanta’s shares to Rs 235 per share and offer size to 651 million shares representing a 17.5 percent stake in the company.
BPCL: Second interim dividend of Rs 5 per share for FY21 has been declared by the company and the record date for the dividend is March 27.
Karur Vysya Bank: According to the information provided by the company promoter S Nirupama has pledged 40,000 shares of the company with Bajaj Finserv on March 12, 2021.
Apollo Tyres: A new range of tyres has been launched by the company for the fast-growing compact SUV segment.
Godrej Properties: Rs 3,750 crore has been raised by the company through the sale of shares to institutional investors to expand the business and support future growth.
Shriram City Union Finance: The issue of secured rated listed redeemable principal-protected market-linked (PP-MLD) non-convertible debentures (NCDs) of the face value of Rs 10,00,000 each, summing up to 5,000 NCDs amounting to Rs 500 crore has been approved by the Banking and Securities Management Committee of the company on March 16, 2021.
Asian Hotels (West): Saurabh Kirpal who is an Independent Non-Executive Director of the company has submitted his resignation with effect from March 15, 2021, according to the information provided by the company in a regulatory filing.
PNB Gilts: The credit ratings of "ICRA A1+" and "CRISIL A1+" have been reaffirmed by rating agencies ICRA and CRISIL on March 16, 2021, respectively.