Stock In News Today: By keeping a close watch on every movement of stocks, your investment can definitely be protected. Here we are telling such stocks which will remain in the news today and on which the market will be eyeing.
FOCUS ON KOTAK MAH BANK
There will be a big block deal in KOTAK MAHINDRA BANK today. Canadian Pension Fund will sell 4 crore shares. These deals can be had at a discount of up to 5%. The fund is selling 32% of its holdings.
Big relief to ZEE ENT
After the Sony deal, Invesco’s EGM has been decided not to be called. The Sony deal has served a lot of purpose. After the merger with Sony, the new board will be reconstituted. Under the current proposal, if the merger does not happen, then the EGM has the right to be called again. Invesco will continue to monitor the progress of the proposed merger.
Focus on ICICI Bank
SBI MF, 9.99% stake purchase of SBI Group Entities has been approved. RBI has approved the purchase of 9.99% stake in ICICI Bank.
ONGC / OIL INDIA / HOEC in focus
There is a boil in crude oil. Brent crude again crosses $122. Boiling in crude is negative for paints and aviation.
Also read- Global markets slumped again due to the rise in crude oil, Dow Jones closed down by 450 points yesterday, weakness in Asian markets too
IGL in focus
In Delhi-NCR, the price of CNG, PNG has increased by Re 1 per unit.
Fertilizer stock in focus
There is a sharp jump in fertilizer prices due to sanctions on Russia. America’s fertilizer bill has increased by 17% in 2021. In the current year also, the fertilizer bill is expected to increase by 12%. In 2021, 40% of the potassium export is being contributed by Russia-Belarus. Russia contributes 22% to the global export of Ammonia. Urea and Monoammonium Phosphate contribute 14-14%.
Chemical Sector in focus
The export of hydro fluorocarbons has been banned. Used in refrigeration and air conditioners. Government approval will be required for export. There will be a negative effect on SRF. Hydrofluorocarbons account for 55-60% of SRF’s exports.
ADANI TOTAL GAS IN FOCUS
City gas distribution network has been approved in 17 cities. Authorization letter has been received from PNGRB. The network will be built in Assam, Chhattisgarh, Jharkhand and Maharashtra.
Focus on NELCO
The company has entered into a strategic agreement with Omnispace. India and South Asia have signed an agreement for the expansion of 5G.
IIFL WEALTH IN FOCUS
According to media reports, PE firms, Kotak Bank can participate. Fairfax, GA can leave the company. There may also be an open offer.
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