The stock market on Friday, February 26, closed in red breaking the gains of three consecutive days. On the contrary, the market on Monday, March 1, is expected to give a positive start as the SGX Nifty was trading 246.50 points or 1.70 percent higher at 14,771.00 at 7:10 am. On February 26, the BSE Sensex witnessed a massive fall of 1,939.32 points or 3.80 percent to close at 49,099.99 whereas the NSE Nifty declined by 568.20 points or 3.76 percent to settle the day at 14,529.15.
Top stocks to look for the day are:
Indian Oil Corporation: To expand the capacity of the Panipat refinery to 25 million tonne per year from 15 million tonne per year, the company will invest Rs 32, 946 crore.
Tata Chemicals: Nandakumar S Tirumalai has been appointed by the company as the Chief Financial Officer after John Mulhall was elevated to Managing Director and CEO of subsidiary Tata Chemicals North America, Inc.
Wipro: HDFC Securities Technology Investor Forum will be attended by the officials of the company on March 1.
Auto stocks: February sales data will be released on Monday therefore the shares of automobile companies will be in focus for the day.
Reliance Industries: An additional stake in skyTran Inc. Has been acquired by Reliance Strategic Business Ventures Ltd for USD 26.76 million which led to an increase in its shareholding to 54.46 percent.
Telecom companies: Sixth-round bidding of 2,251.25 MHz of spectrum worth Rs 3.92 lakh crore will start on Monday.
Axis Bank: The proposal to reclassify United India Insurance Company Ltd (UIICL) as a public shareholder category investor from the promoter category has been approved by the bank’s board.
BL Kashyap and Sons: The stake in the company has been reduced by Acacia II Partners LP and others to 2.47 percent from 4.91 percent earlier.
Affle (India): Fundraising of up to Rs 1,080 crore has been approved by the company at its board meeting.
Equitas Holdings: The stake in the company has been reduced by the investor CDC Group PLC to 5.23 percent from 7.84 percent via open market sale.
Acrysil: The commercial production of additional 1 lakh units after completion of capacity expansion of Quartz kitchen sinks at Bhavnagar plant in Gujarat has been commenced by the company.
UltraTech Cement: On March 1, an investor meeting will be held and it will be attended by the representatives of the company.
Torrent Power: Officials of the company will meet ICICI Prudential Life on Monday, March 1.
Source: News18