The stock market on Tuesday, March 30, gained over 2 percent to give a positive ending for the second consecutive day. The indices on Wednesday, March 31, are expected to open flat as the SGX Nifty was trading at 8.00 points or 0.05 percent down at 14,921.00. On March 30, the BSE Sensex surged 1,128.08 points or 2.30 percent to close at 50,136.58. Similarly, the NSE Nifty jumped 337.80 points or 2.33 percent to settle the day at 14,845.10.
Top stock to look for the day:TCS: The company’s strategic partnership with UK’s Nationwide Building Society has been renewed to help strengthen the latter’s enterprise agility and operational resilience.
InterGlobe Aviation: From April 1, IndiGo is likely to reinstate a 5 percent salary cut of cabin crew, according to CNBC TV-18. Earlier in 2020, IndiGo had implemented a 10 percent salary cut for cabin crew due to Covid-19.
Bank of India: Basel III Compliant Additional Tier 1 bonds of Rs 602 crore has been issued and allocated by the bank.
HPCL: A balance of 50 percent stake in Chhara LNG Terminal has been acquired by the company for Rs 397 crore.
Ultratech Cement: Long term loans worth Rs 5,000 crore has been repaid by the company from its free cash flows.
Mahindra Holidays and Resorts India: As per the information provided by the company the operations in 3 SPA hotels of its subsidiary Holiday Club Resorts Oy (HCR), Finland, will continue to remain suspended till May 2, 2021, in compliance with the directives issued by the Finnish Government arising out of Covid 19.
IDFC First Bank: Rs 60.34 has been fixed by the bank as the floor price for the Rs 3,000 crore qualified institutional placement (QIP) issue.
Punjab and Sind Bank: The account of IL&FS Transportation Network Ltd (ITNL) with total dues of Rs 149.98 crore has been declared a fraud by the bank.
NHPC: Approval for the investment of Rs 938.29 crore for acquisition of Jalpower Corporation Ltd and construction of balance works of 120 MW project in Sikkim has been received by the company.
Welspun Enterprises: 2.75 percent stake in the company has been bought by the promoter group.
SJVN: 70 MW grid-connected solar power project in Gujarat has been bagged by the company. Rs 2.21 per kWh will be the tariff of the electricity supplied and power generated from this project will be procured by Gujarat Urja Vikas Nigam Ltd for 25 years.
IRB Infrastructure Developers: Two highway projects in West Bengal and Himachal Pradesh has been won by the company which took the total project wins in the current fiscal to Rs 5,004 crore.