Major benchmarks are expected to start trading on Wednesday with losses of more than 1% each, due to turmoil in global markets amid the ongoing Russian-Ukrainian conflict and record oil prices. As of 07:55, SGX Nifty March futures were quoted at 16,488, indicating a gap of nearly 300 points from Monday’s close. In the meantime, here are the stocks to favor in trading today.
Banks: Against the backdrop of the ongoing Russian invasion of Ukraine and the imposition of harsh Western sanctions on Russia, the Reserve Bank of India (RBI) is also assessing the extent of the damage to India’s banking sector. due to the deterioration of the geopolitical situation. The Association of Indian Banks (IBA) convened a meeting with the country’s major banks on Monday and asked them to submit detailed information on their exposure to Russia and Ukraine by Wednesday. READ MORE
Car manufacturers : Maruti Suzuki India (MSI) said its domestic sales fell 8.46% to 1,40,035 units from 1,52,983 units in February 2021. Meanwhile, Tata Motors and Mahindra & Mahindra reported increased sales in large in February. The former reported a 47% increase in passenger vehicle sales, while the latter soared 80% on an annual basis last month. READ MORE
MotoCorp Heroes: The two-wheeler giant reported a 29.1% drop in year-on-year sales to 358,254 units, even as exports jumped 27.4% to 26,792 units in February.
TV engines: The company’s vehicle sales fell 5.4% in February 2022 to 281,714 units from 297,747 units in February 2021. Exports were up 6% year-on-year to 101,789 units.
Eicher engines: Engines: Total monthly sales fell 15% year-on-year in February 2022 to 59,160, while exports jumped 55% year-on-year to 7,025 units.
Hindustan Unilever (HUL): Major FMCG raised prices across its product portfolio by 3-13% in several tranches in February, with the biggest increase of 13% seen in the 100g pack of Lux soap, which was priced from Rs 31 at Rs.35 earlier. READ MORE
L&T Finance Holding (LTFH): Preparatory work to turn L&T Finance Holding (LTFH) into a retail lending-focused entity had begun before Larsen & Toubro (L&T), its parent company, announced that its subsidiary would withdraw from wholesale finance and lending. ‘immovable. The company has drawn up a roadmap to increase the share of retail loans from 50% to 80% by March 2026. READ MORE
Ready yet : The Burman family – promoters of Dabur India – will consider appointing “key management personnel” at the country’s largest dry cell maker, Eveready Industries India, after the open offer closes. Amritanshu Khaitan’s term as Managing Director ends in May 2022.
On Monday, Dabur India announced an open offer to acquire a 26% stake in Eveready. The open offer was priced at Rs 320 per share, aggregating total consideration of up to Rs 605 crore. The stock last traded at Rs 376.35 on the Bombay Stock Exchange on Monday.
Adani Group: The Group has announced its foray into the media sector, concluding a binding term sheet to acquire a minority stake in Quintillion Business Media Private Limited. With this decision, Adani is set to take on Reliance, owner of the Indian network18, which operates several TV news channels and online platforms. READ MORE
Tata Steel: The steel major is seeking to set up a ‘world-class’ facility to produce medical equipment and, to achieve this, Tata Steel Advanced Materials (TSAML), an indirect wholly-owned subsidiary, has invested in a bioceramics start-up to acquire 90% stake in Ceramat Private Limited. READ MORE
Piramal companies: The company’s board has approved a proposal to raise up to Rs 500 crore through the issuance of non-convertible debentures on a private placement basis.
Tribhovandas Bhimji Zaveri: The company has informed BSE that CRISIL Ratings has reaffirmed its CRISIL BBB+/Stable rating on the company’s bank facilities of Rs 625 crore.