Benchmark equity indices recovered the losses to settle in green on Wednesday following recovery in heavyweights Reliance Industries, HDFC Bank, and Axis Bank. The BSE Sensex climbed 526.01 points or 0.73 per cent to settle at 72,996.31. The NSE Nifty rebounded by 118.95 points or 0.54 per cent to close at 22,123.65. Sector-wise it was a mixed bag with buying seen in Realty, Auto, Private Banks, and Consumer Durables. Recent upward revision in India’s GDP growth forecast by both Moody’s and S&P Global rating agencies uplifted the sentiments.
"Stock-specific actions and positive undercurrents due to a healthy economic growth forecast led the market towards a positive closure. However, due to the holiday-led truncated week, investors are now focusing on US GDP data tomorrow and next week’s RBI policy announcement to gauge market direction. The mid-and small-cap space are outperforming as investors got bargaining opportunities, but volumes are low," said Vinod Nair, Head of Research, Geojit Financial Services.
Here are the key stocks to watch on 28 March:
Dr Reddy’s
The pharma major has signed an exclusive partnership with Sanofi Healthcare India Private Limited to promote and distribute their vaccine brands across the private market in India. These brands recorded combined sales of around Rs 426 crore as per IQVIA MAT February 2024.
JSW Energy
The power company’s board of directors will be meeting on 2 April to consider raising funds through the issuance of eligible securities of the company through private offerings, preferential allotment basis, qualified institutional placement (QIP), or any other method.
IDFC First Bank
US-based private equity firm Warburg Pincus’ affiliate, Cloverdell Investment, is likely to sell its entire 2.5 per cent stake in a private sector bank through block deals, reported CNBC-TV18.
NHPC
The state-run company’s board has approved a proposal to raise Rs 6,100 through debt in 2024-25 through non-convertible Corporate Bonds in one or more tranches on a private placement basis.
Tata Elxsi
The Tata Group company has announced a partnership with Drager, a global leader in medical and safety technology, to advance critical care innovation in India. Drager is expanding its research and development (R&D) presence by establishing a new offshore development center (ODC) at Tata Elxsi’s facility in Pune.
