The domestic equity market experienced a downturn on Wednesday, with the Sensex closing 790 points lower at 72,304, and the Nifty slipping 247 points to close at 21,951. As investors navigate market dynamics, here’s a closer look at stocks that are likely to capture attention and remain in action on March 8, 2024.
Stocks in Focus:
NTPC (National Thermal Power Corporation):
NTPC Green Energy Limited, an arm of NTPC Ltd, has entered into a joint venture agreement with Maharashtra State Power Generation Company Limited for the development of renewable energy parks in Maharashtra.
Reliance Industries:
Viacom 18 Media, owned by Mukesh Ambani’s Reliance Industries, and The Walt Disney Company have signed definitive agreements to form a joint venture that combines the businesses of Viacom 18 and Star India.
Oil India:
The company’s board is set to meet on March 8 to consider the second interim dividend for the financial year 2023-24.
Cyient:
The IT services company has incorporated its wholly-owned subsidiary, Cyient Global Captive Solutions, focused on providing manpower placement services.
Venus Pipes & Tubes:
The stainless steel pipes and tubes manufacturer is expanding into the fittings business and increasing capacity for seamless and welded pipes and tubes, with an investment of Rs 175 crore.
Coal India:
News: Coal India has signed a joint venture agreement with BHEL to venture into the coal-to-chemicals business, initially setting up a coal-to-ammonium nitrate plant.
Punjab & Sind Bank:
The board of directors has approved raising up to Rs 2,000 crore through various means, including public issue, rights issue, qualified institutional placement(s), or preferred issue.
GPT Healthcare:
The shares of healthcare services provider GPT Healthcare will list on the bourses on February 29, with a final issue price of Rs 186 per share.
Juniper Hotels:
Norges Bank, representing the Government Pension Fund Global, has acquired a 0.98% stake in Juniper Hotels, purchasing 21,77,724 equity shares at an average price of Rs 398.15 per share.
JSW Steel:
JSW Steel has incorporated a new wholly-owned subsidiary, JSW Green Steel, based in Mumbai, on February 27.
As investors navigate the market, these key developments and announcements are expected to influence the performance of these stocks on March 8, 2024.
