The stock market on Monday, March 15, gave a negative closing by falling 0.78 percent. On the contrary, the indices on Tuesday, March 16, are expected to give a higher opening as the SGX Nifty was trading at 38.00 points or 0.25 percent higher at 14,988.00 at 7:15 am. On March 15, The BSE Sensex shed 397 points or 0.78 percent to close at 50,395.08. Similarly, the NSE Nifty fell 101.50 points or 0.67percent to settle the day below 15,000 mark at 14,929.50.
Top Stock to look for the day:Shipping Corporation of India: Through open market transaction Life Insurance Corporation of India has sold 2.01 percent stake in state owned Shipping Corporation of India.
Adani Ports and Special Economic Zone: The west container terminal (WCT) of Colombo Port in Sri Lanka will be developed by the company. As a part of the consortium awarded this mandate the company will also partner with Sri Lanka’s largest diversified conglomerate John Keells Holdings PLC and with the Sri Lanka Ports Authority (SLPA).
Tata Communications: On March 16, the offer for sale to sell up to a 16.12 percent stake by the government in the company will start at the floor price of Rs 1,161 per equity share.
AU Small Finance Bank: Rs 625.5 crore has been raised by the bank through qualified institutions placement of 50 lakh equity shares. The issue price is Rs 1,251 per share.
Max Healthcare Institute: An additional42.8 percent stake has been acquired by the company of Saket City Hospitals for USD 64 million.
HFCL: A share subscription and shareholders’ agreement has been signed by the company with Tamil Nadu based cable reinforcement solutions company Nimpaa Telecommunications and its promoter shareholders. Up to 50 percent of paid up equity share capital of Nimpaa is intended to be acquired by the company in one or more tranches.
Godrej Properties: The closure of its QIP issue at an issue price of Rs 1,450 per share has been approved by the company.
NIIT: A managed services agreement has been signed by NIIT (USA) INC which is a US subsidiary of the company with a US based financial service organisation to provide a range of learning services.
Usha Martin: Stake in the company has been reduced by the promoter Peterhouse Investments and other promoters to 3.90 percent from 3.98 percent via open market transaction.
Mishra Dhatu Nigam: An interim dividend of Rs 1.20 per equity share of Rs 10 each for the financial year 2020-21 have been declared by the board of directors.