The SGX Nifty indicates a lower start for the Sensex and Nifty in India today. American market cues are also poor after the Fed’s plan to raise rates by 25 basis points. According to experts, the Nifty will likely face resistance above 17,250 today, with immediate support at 16,900 on the downside.
Among the top stocks to watch today are HAL, Reliance Industries, Hero Motocorp, Nazara Technologies, and HG Infra, among others.
Hindustan Aeronautics Limited (HAL): HAL shares will be under scrutiny today after the Government of India chose to sell a 1.75% interest in the business via an Offer for Sale (OFS). They also have the opportunity to sell an additional 1.75% ownership in the offer. The OFS’s floor price is Rs 2,450, a 6.7% decrease from Wednesday’s closing price. The government presently owns 75.15 percent of the corporation.
Reliance Industries: The share price of Reliance Industries today will be scrutinized after the business announced its entry into the FMCG industry on Wednesday evening by introducing different brands for items in the bath, hygiene, laundry, home care, and other categories.
Hero MotoCorp: Hero MotoCorp’s share price will be under focus today as the business announces an increase in ex-showroom pricing for various bikes and scooters beginning April 1, 2023. The news is projected to result in a 2% price increase.
Nazara Technologies: Shares of Nazara Technologies will be scrutinized after the company’s subsidiary Sportskeeda paid $1.8 million for a 73.27% interest in Pro Football Network LLC. PFN is a leading source of NFL (the most watched sport in the United States) and college football news and commentary.
HG Infra: HG Infra will be in the spotlight today after being named the L-1 bidder by the NHAI (National Roads Authority of India) for an important project in Jharkhand. The project would cost roughly Rs 765 crore and take 730 days to complete.
