Benchmark equity indices settled higher after a volatile session on Monday as investors turned cautious ahead of the US Federal Reserve interest rate decision. The BSE Sensex settled higher by 104.99 points or 0.14 per cent at 72,748.42. The broader NSE Nifty rose by 32.35 points or 0.15 per cent to close at 22,055.70. Sector-wise it was a mixed bag with buying seen in Metals, Realty, and Auto. While IT and FMCG were laggards.
“This week, the market will focus on major central bank meetings with the Bank of Japan scheduled to announce its outcome on Tuesday. Japan’s GDP rose to 0.1 per cent in Q4CY23, vs -0.1 per cent in Q3CY23, which raised speculation that the Bank is likely to discontinue its ultra-loose monetary policy. These apart investors would also track economic data like European CPI data. Overall, we expect the markets to consolidate over the next few days while the broader market may continue to remain subdued,” said Siddhartha Khemka, Head- Retail Research, Motilal Oswal Financial Services.
Here Are The Key Stocks To Watch On 19 March:
Tata Consultancy Services
Tata Sons, the holding company of Tata Group, is likely to sell 2.34 crore shares of the IT major for Rs 4,001 per share through block deals to raise up to $1.1 billion, reported Bloomberg. The reported selling price is at 3.6 per cent discount from the last traded price.
Aditya Birla Sun Life AMC
Promoter entities of Aditya Birla Sun Life AMC have offered to sell up to 11.47 per cent stake through offer for sale to meet the minimum public shareholding norms. The floor price for the issue has been fixed at Rs 450 per share. The OFS will open for non-retail investors on 19 March, and retail investors can participate on 20 March.
L&T Finance Holdings
The company’s board of directors has approved fund raising of up to Rs 1.01 lakh crore through non-convertible debentures (NCDs) in one or more tranches.
Devyani International
Rajat Luthra has resigned from the post of CEO of KFC, with effect from 29 March. The company has promoted Pradeep Das as CEO of KFC India. Currently, Das is the CEO of airports and institutional business at Devyani International.
IRCTC
Indian Railway Catering and Tourism Corporation (IRCTC) has approved a project worth Rs 187 crore for establishing a disaster recovery site at Secunderabad.
