Benchmark equity indices snapped a two-day losing trend to bounce back on Tuesday, led by gains in index major Tata Consultancy Services, Tata Motors, and Sun Pharma amid mostly firm global markets. The BSE Sensex jumped 305.09 points or 0.42 per cent to settle at 73,095.22. The NSE Nifty ended 76.30 points or 0.34 per cent up at 22,198.35.
“The domestic market rebounded from Monday’s loss amidst volatility, despite weak global cues. The hopes for a ceasefire in the Israel-Hamas war and the drop in crude oil prices supported the sentiment. However, the mid & small caps underperformed. The market is looking ahead to key economic data, both domestic and global, with US inflation grabbing the most attention, as that will provide fresh signals on interest rate cuts," said Vinod Nair, Head of Research, Geojit Financial Services.
Here Are The Key Stocks To Watch On 28 February:
Vodafone Idea
The board approved a fundraising of up to Rs 20,000 crore through a combination of equity and equity-linked instruments on 27 February. The company plans to raise an additional Rs 25,00 crore through debt, thereby taking the total fundraising to Rs 45,000 crore through a combination of equity and debt.
Axis Bank
The Reserve Bank of India (RBI) has approved the appointment of Munish Sharda as the executive director and full-time director of the company.
Patanjali Foods
The company said its business operations and financial performance will not be impacted because of the Supreme Court’s observation on ads related to ayurvedic medicines sold by a promoter group company. "The observations do not have any bearing on the regular business operations or the financial performance of Patanjali Foods," the company said.
Titan
The Tata Group company has acquired the remaining 0.36 per cent stake in CaratLane Trading Private Ltd (CaratLane) for Rs 60.08 crore. Currently, Titan owns 99.64 per cent of CaratLane’s equity share capital. Upon the completion of this transaction, CaratLane will become a wholly-owned subsidiary of Titan Company.
SJVN
The company’s unit received a 100 MW solar power project at a tariff of Rs 2.64 per unit through competitive bidding conducted by Gujarat Urja Vikas Nigam. The development cost of this project is around Rs 642 crore. The power purchase agreement (PPA) has been signed with Gujarat Urja Vikas Nigam for 25 years.
