In the near term, high volatility can be seen in the market. However, in the meantime, some stocks may show action in today’s trading due to some or the other positive sentiments.
Stocks in Focus Today: The domestic stock market is under selling pressure due to Russia and Ukraine crisis. Even today, the global signals for the market are very weak. Crude is trading above $130 per barrel. There is a fall in the markets around the world. Experts believe that high volatility can be seen in the market in the near term. However, in the meantime, some stocks may show action in today’s trading due to some or the other positive sentiments. These include stocks like Nazara Tech, JK Cement, V-Mart, Balkrishna Industries, Wipro, KPIT, 3i Infotech and PNB Housing Finance. If you are looking for a better stock for intraday, then you can keep an eye on them.
Nazara Technologies
Mobile gaming company Nazara Technologies said that its board has approved the issuance of equity shares of Rs 25 crore to the existing shareholders of Datawrkz Business Solutions. These shares will be issued on a preferential basis at a price of Rs 2260 per share. After the completion of this acquisition, the company will hold 33 per cent equity stake in Datawrkz Business Solutions. In addition, the company will invest up to Rs 30 crore in its subsidiary Next Wave and through subscription in equity shares.
Balakrishna Industries
Balkrishna Industries has said that it has successfully started commercial production of brown field expansion and debottlenecking project at Bhuj plant ahead of schedule. This will increase the production of tires up to 50,000 MTPA. Full ramp-up in production is expected to be achieved in the next 6 months.
JK Cement
JK Cement has announced that it will enter the paint business. The company said that its board has approved investment of up to Rs 600 crore in the first five years in the subsidiary.
The formation of a wholly owned subsidiary will enable the organization to focus entirely on the paint business.
3i Infotech
3i Infotech bagged a contract worth Rs 12.85 crore. The company has received a work order from the Rajasthan State Pollution Control Board (RSPCB) for the design, development, implementation and maintenance of its e-Governance Solutions 2.0.
PNB Housing Finance
PNB Housing Finance has a fund raising plan. The company will hold a board meeting on March 9 to consider raising funds. The stock has lost 7 per cent in the last one year.
V-Mart Retail
SBI Funds Management has acquired 4.5 per cent stake in V-Mart through open market transactions on March 3 through various schemes. With this, its stake in the company has gone up to 8.76 per cent as against 4.2. The stock has gained 20 per cent in the last one year but has lost 9 per cent in the last one month.
KPIT Technologies
Rating agency ICRA has rated the company ‘AA’ over the long term with a stable outlook for KPIT Technologies’ bank facilities. While the short term rating is ‘A1+’.
Wipro
Wipro has chosen a new CEO for Designit. Designit is a company owned by Wipro. Wipro’s stock has gained 31 per cent in the last one year.
Khadim India
Khadim India promoter Tanushree Roy Burman has bought 41,600 equity shares in the company through an open market transaction on March 2. With this, the shareholding in Tanushree’s company has now become 0.49 percent, which was 0.26 percent earlier.
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