Stocks In News: Infosys, SBI Life, Asian Paints, Indian Hotels among other key scrips to watch out for on Wednesday

The Indian markets on Tuesday made an intraday recovery, to close positive led by financials and auto stocks. Both the benchmark indices – Sensex and Nifty50 – ended over 1 per cent higher.

Vinod Nair, Head of Research at Geojit Financial Services, “The domestic market started with a negative bias taking cues from rising crude prices and hawkish signals from the Fed on aggressive policy tightening.”

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“US 10-year yields have crossed 2.3% and there are expectations that the Fed will raise rates by around 50 basis points in its May-June meeting,” Mohit Nigam, Head – PMS, Hem Securities said in a note.

Stocks such as Infosys, Adani Power, TCS, Tata Coffee, SBI Life, Asian Paints, Indian Hospitals, BEL, Adani Power, Brigade Enterprises among others are likely to be stocks in focus on Wednesday.

Stock in News

Infosys to acquire Germany-based digital experience, marketing agency, Oddity, which is expected to close during the first quarter of fiscal 2023.

Adani Power, IHI Corporation, and Kowa Company collaborate for environmentally sustainable power generation; sign MoU to study the feasibility to achieve 20% liquid ammonia co-firing ratio

Adani Ports & SEZ’s cargo volumes cross 300 million tonnes in the financial year 2021-22

Indiabulls Housing Finance’s board approves raising up to Rs 50,000 cr through NCDs and / or bonds on a private placement basis

Tata Coffee board approves reappointment of Chacko Purackal Thomas as MD & CEO for 3 years and K Venkataramanan as CFO for 1 year

Tata Consultancy Services Rs 18000 crore buyback offer to be closed on March 24, 2022.

SBI Life Insurance board approves Rs 2 per share interim dividend

Asian Paints: Promoter Nehal Abhay Vakil raises stake in company to 1.32 per cent stake

Brigade Enterprises to develop Residential project in Devanahalli

RailTel Corp receives an order worth Rs 11.57 cr from Rail Vikas Nigam for the installation of multiprotocol label switching VPN service.

Indian Hotels launches sustainability program, announces sustainability targets for 2030.

HPCL appoints Rajneesh Narang as the Executive Director of the company.

Corporate Action

The ex-date of Vardhman Textiles’ stock split from Rs 10 to Rs 2 per share, while Nandan Denim’s bonus issue 2: 1 on Wednesday.

Bharat Electronics, RVNL, RITES to be eligible for interim dividend: Rs 1.5, Rs 7.5 and Rs 1.58 per share respectively.

Board Meetings

Gujarat Fluorochemicals’ board to meet to discuss and consider interim dividend on Wednesday

Kohinoor Foods’ board meet to consider the sale of a factory unit in Sonepat (Haryana) on Wednesday

IIFL Finance to consider buyback of debt securities on Wednesday

CreditAccess Grameen to consider fund raise via debt on Wednesday

Economic Indicator

Fed Chair Powell Speech

US Crude Oil Inventories Data

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