The SGX Nifty indicates a flat start for the Sensex and Nifty in India today. American market cues are also favorable ahead of the US Fed’s decision later today. According to experts, the Nifty will likely face resistance above 17,250 today, with immediate support at 16,950 on the downside.
Among the top stocks to watch today are Hindustan Zinc, Vedanta, Tata Motors, Devyani International, Greenlam Industries, and Tata Power.
Hindustan Zinc/Vedanta: Shares of Hindustan Zinc and Vedanta will be under scrutiny today after Hindustan Zinc Ltd. announced a dividend of Rs 10,990 crore for its shareholders on Tuesday.
Tata Motors: Tata Motors stock is in focus today as the business announced a 5% increase in commercial vehicle costs beginning April 1, 2023, primarily to meet the strict BS6 phase II emission standards. The price increase will be applied to a variety of CVs.
Temasek Holdings, via its wholly owned subsidiary Dunearn Investments, offloaded a 2.8% holding, or 3.44 crore shares, of Devyani International on the open market on Tuesday at an average price of Rs 145.04 per share. Franklin Templeton Mutual Fund was among those who purchased 62 lakh shares, or 0.5% of the company, at an average price of Rs 145.
Smiti Holding and Trading Corporation sold 33.42 lakh shares of Greenlam Industries in an open market transaction on Tuesday at an average price of Rs 306 per share. Yet, statistics reveal that Asiana Fund I purchased 33.42 lakh shares, or 2.63 percent of the business, at the same average price.
Tata Power Renewable Energy, a subsidiary of Tata Power, obtained a ‘Letter of Award’ (LoA) from Maharashtra State Electricity Distribution Company (MSEDCL) on Tuesday for establishing a 200 MW solar PV project in Solapur, Maharashtra.
Indian Oil: Shares of Indian Oil are expected to rise today after the business received preliminary authorization to build the Paradip Petrochemical Complex in Paradip, Odisha. The total cost of the project is anticipated to be Rs 61,077 crore.