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Stocks in Focus: Vodafone Idea, TCS, Star Health, SBI Cards, Shakti Pumps, and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, were trading higher by 48 points at 21,934, indicating that the domestic benchmark indices are likely to make a positive start on Wednesday. 

On Tuesday, 19 March, Domestic benchmark indices slipped around amid a broad-based sell-off tracking the mixed cues from the global markets. S&P BSE Sensex plunged 736.37 points, or 1.01%, to end at 72,012.08 while the Nifty50 slumped by 238.25 points, or 1.08% and settled at 21,817.45. 

Here are some stocks that are likely to remain in focus on 20 March.

Star Health: ICICI Prudential Mutual Fund acquired 35.74 lakh shares, which represents a 0.61% stake in the company at an average price of Rs 540 per share 

Vodafone Idea: The company has received a request from ATC Telecom Infrastructure Private Ltd to convert optionally convertible debentures worth Rs 1,440 crore into equity shares. 

SBI Cards: The Board of Directors of the company has declared an interim dividend of Rs 2.50 per equity share for the current fiscal year. The record date for determining the eligibility has been set for 28 March 2024, and the payout will be credited on or before 17 April 2024.

Skati Pumps: The company announced the launch of qualified institutional placement to raise Rs 200 crore, and the floor price has been set at Rs 1,272.09 per share.

Ultratech Cement: The Competition Commission of India has given approval to the company’s proposed acquisition of Kesoram Cement Business from Kesoram Industries.

Adani Enterprise: The company’s subsidiary, Adani Tradecom Limited, completed the acquisition of the remaining 49% stake in Adani Green Technology Ltd for Rs 4 lakh. 

Aurobindo Pharma: The US Food and Drug Administration has provided approval for the company’s Mometasone Furoate Monohydrate Nasal Spray in strength of 50 mcg per spray.

Tata Steel: The company’s board have considered and approved the fundraising of Rs 2,700 crore by issuing non-convertible debentures. 

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