Stocks To Watch: Reliance Industries, Maruti Suzuki, SBI, HDFC
New Delhi: The domestic stock indices are likely to trade cautiously on Monday, taking cues from the global markets. Asian share markets were wary as investors clung to hopes for an eventual peace deal in Ukraine, but the fighting raged on with no sign of stopping. Trends on SGX Nifty indicated a tad higher opening for the markets back home. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures rose 63.70 points or 0.37 per cent to 17,388.80.
The benchmark BSE Sensex had rallied 1,047 points or 1.84 per cent to close at 57,864 on Thursday, while the broader NSE Nifty had moved 312 points or 1.84 per cent higher to settle at 17,287. Domestic indices were closed on Friday due to "Holi".
Here Are Stocks To Watch During Today's Session:
Reliance Industries: RIL subsidiary Reliance Retail, owned by billionaire Mukesh Ambani, said it has acquired a majority stake in Purple Panda Fashions Pvt Ltd, which owns a popular lingerie brand, for $125 million, further expanding in the apparel and underwear sectors. India's largest retail chain will own an 89 per cent equity stake in Purple Panda, which owns and operates the Clovia lingerie brand, Reliance has said.
Maruti Suzuki India: Japan's Suzuki Motor Corporation has said it will invest around 150 billion yen (about Rs 10,445 crore) by 2026, for local manufacturing of Battery Electric Vehicles (BEV) and BEV batteries in Gujarat.
State Bank of India (SBI): The country's largest lender has lined up a dozen non-performing assets (NPAs) on sale to recover loan dues of over Rs 820 crore, as per the bank's notifications.
Ruchi Soya: The company's follow-on public offer (FPO) is set to open on March 24 and close on March 28. In 2019, Patanjali acquired Ruchi Soya through an insolvency process for Rs 4,350 crore.
HDFC:Â The mortgage lender has said it will acquire a 7.2 per cent stake in prop-tech start-up Loyalie IT Solutions Pvt Ltd for Rs 1.1 crore.
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