Nifty futures on the Singapore Exchange traded 110 points, or 0.64 per cent lower at 17,170, signaling that Dalal Street was headed for a negative start on Monday. Indian indices closed lower for the third straight session on Friday. The BSE Sensex closed 59 points lower at 57,832.9 whereas the NSE Nifty edged lower by 28 points to settle at 17,276. On a weekly basis, the Sensex lost 0.55 per cent and the Nifty fell about 0.56 per cent. Sectorally, realty, oil and gas, basic materials, healthcare and energy indices were major the losers.
Here are Stock to Track in Today’s Trade:
Infosys
The American insurtech company signed up the Indian IT major for its Guidewire PartnerConnect program at the select level for the Americas region. Members in Guidewire PartnerConnect Consulting offer consulting services that include business transformation and strategy, implementation and associated solution and delivery services. The stock is under pressure in the last one month due to falling tech shares globally. It declined nearly 12 per cent in the last one month.
InterGlobe Aviation
InterGlobe Aviation Ltd co-founder Rakesh Gangwal has resigned as non-executive, non-independent director of the company with immediate effect and will pare his stake in the company over five years, ceding control to co-promoter Rahul Bhatia after a truce. The stock is volatile since last one month and gained just 2 per cent in this period.
HDFC Bank
The private lender said that Srikanth Nadhamuni has resigned as a director from its board, citing potential future interests. Nadhamuni has tendered his resignation as non-executive (non-independent) director of HDFC Bank vide his resignation letter dated February 18, 2022.
HCL Technologies
The IT company has extended its relationship with The Royal Automobile Club of Victoria (RACV) with a multi-year agreement to provide Integration-as-a-Service offering. The company did not divulge the size of the contract.
Escorts
The tractor maker will receive Rs 1,872.74 crore from Kubota Corporation as it approved preferential allotment of 93.63 lakh equity shares at Rs 2,000 per share. After the allotment, Kubota Corporation holds 16.39 per cent stake in the company.
Indian Oil Corporation
India’s largest oil firm will set up ‘green hydrogen’ plants at its Mathura and Panipat refineries by 2024 to replace carbon-emitting units as it sees the just announced green hydrogen policy as a watershed moment in the country’s energy transition that will help cut costs.
Ashok Leyland
The Hinduja Group flagship firm plans to set up a new manufacturing facility in the country to roll out electric vehicles. The Chennai-based firm has also lined up a Rs 500 crore investment to develop powertrains based on alternative fuels like CNG, hydrogen and electric for its commercial vehicles range.
Power Finance Corporation
Life Insurance Corporation of India sold 2.02 percent of its stake in the company through open market transactions. With this sale, LIC’s holding has gone down to 5.06 percent, from 7.09 percent earlier. The stock has been volatile since last few sessions and declined over 7 percent in the last one month.
NTPC
The state-run power giant said it surpassed the maximum annual electricity generation of 314 billion units achieved in 2020-21 on February 18. NTPC has recorded a generation of 314.89 billion units upto February 18, 2022, surpassing the maximum annual generation of 314 BU achieved in 2020-21.
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