Stocks To Watch: Reliance Industries, Maruti Suzuki, Mankind Pharma, And Others In News

The NSE Nifty jumped 84.80 points or 0.39 per cent to 22,096.75 on Friday. Except for IT, all sectors ended in green with Auto, Pharma, and Realty being top gainers
Stocks To Watch
Stocks To Watch

Benchmark equity indices joined the global rally after the US and UK central bank kept the key interest rates unchanged. The overall Indian market performed better for the week. On Friday, the BSE Sensex surged 190.75 points or 0.26 per cent to 72,832. The NSE Nifty jumped 84.80 points or 0.39 per cent to 22,096.75. Except for IT, all sectors ended in green with Auto, Pharma, and Realty being top gainers.

“Markets opened weak but soon gained momentum including broader space amid positive cues. Next week being a truncated week and the derivatives' monthly expiry, we might see some volatility while Nifty is likely to consolidate at higher levels. Also, US GDP data and other key economic data would keep investors busy,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. This week will be shorter due to market closures on both Monday for Holi and Friday for Good Friday.

Here Are The Key Stocks To Watch On 26 March:

Reliance Industries

The company’s board of directors have approved the acquisition of 100 per cent equity shares in MSKVY Nineteenth Solar SPV Limited and MSKVY Twenty-second Solar SPV Limited. The shares are set to be acquired from MSEB Solar Agro Power Limited. The move is in line with the terms of the tender awarded to RIL to set up an aggregate solar capacity of 128 MW across various locations in Maharashtra under the Mukhyamantri Saur Krushi Vahini Yojana 2.0, RIL said.

Mankind Pharma

Beige Ltd, an affiliate of private equity firm ChrysCapital, is expected to sell up to 2.90 per cent of its stake in the pharmaceutical company through block deals, offering shares at a price range of Rs 2,103-2,214, according to a CNBC-TV18 report. The deal is estimated to be worth Rs 2,460 crore.

Maruti Suzuki India

The company has recalled 11,851 units of Baleno and 4,190 units of WagonR manufactured between July 30, 2019 and November 1, 2021 due to a potential issue with a component in the fuel pump motor. The defect in the fuel pump cloud leads to engine stalling or starting problems. “Affected vehicle owners will be contacted by Maruti Suzuki dealer workshops for inspection and replacement of the Part, free of cost, in due course of time,” Maruti Suzuki wrote on its website.

Ambuja Cements

The Adani Group company sold a 2 per cent stake in Sanghi Industries for Rs 258.32 crore to achieve minimum public shareholding. With this, Ambuja Cements’ stake in Sanghi Industries has reduced to 60.44 per cent from 62.44 per cent.

ICICI Securities

Markets regulator SEBI has issued an administrative warning to ICICI Securities after the inspection of books and records for the merchant banking activities of the company conducted in December 2023. There is no impact on financial, operation or other activities of the Company pursuant to the above-mentioned administrative warning letter.

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