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The key benchmark indices are likely to start trade on a tepid note as indicated by the SGX Nifty futures. As of 07:05 AM, the SGX Nifty March futures quoted at 16,598 – down 30-odd points when compared with Friday’s close back home. Meanwhile, here are the stocks to focus in trade on Thursday.
Gail India: The state-owned gas utility company declared a record second interim dividend of 50 per cent (Rs 5 per share) for the current fiscal year ending March 31, 2022. The company had earlier declared an interim dividend of Rs 4 per share for the current fiscal.
Maruti: The premium sub-brand of India’s largest car-maker Nexa, established in July 2015, has sold well over a million cars and contributes almost 20 per cent of the total Maruti Suzuki passenger vehicle sales.
Maruti wants sub-brand Nexa to contribute a larger share of the top line. READ MORE
Paytm: The Reserve Bank of India (RBI) has barred Paytm Payments Bank (Paytm PB) from onboarding new customers with immediate effect because of certain supervisory concerns. Furthermore, it has directed Paytm PB to appoint an IT audit firm for conducting a comprehensive system audit of its IT system. READ MORE
Lupin: The pharma company has received approval from the US FDA for the abbreviated new drug application Vigabatrin for oral solution USP. The annual sales for Vigabatrin is estimated to be around $275 million in the US as per IQVIA MAT data of December 2021.
Hindalco: ICICI Prudential Mutual Fund has reduced its stake in the company from 3.07 per cent to 3.01 per cent, by selling 11.81 lakh equity shares via open market transactions, through its various schemes.
SAIL: The company has scheduled its board meeting on March 16 to consider a proposal for second interim dividend.
Welspun India: The company informed BSE, that its newly formed wholly-owned subsidiary, Welspun Advanced Materials has commenced its operations with effect from March 12, 2022. The company’s facilities at Telangana has installed capacity of 17,729 MTPA of Sunplace with estimated revenue of Rs 370 crore per annum at around full capacity utilization.
Dhanvarsha Finvest: The company’s board approved a proposal to raise up to Rs 88.65 crore by way of issue of equity shares and warrants to non-promoters on a preferential basis.
Marsons: The company’s board is scheduled to meet today to discuss and approved a proposal to venture into EPC for setting up EV charging stations. The board will also approve and accept Technology Transfer Agreement as per LOI with US company Micro Power Global Limited in lieu of equity shares to be issued on preferential basis.
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