The key equity barometers ended with modest losses on Wednesday, March 23, 2022. The market opened with strong gains but slipped as the session progressed. The barometer index, the S&P BSE Sensex was down 304.48 points or 0.53% to 57,684.82. The Nifty 50 index fell 69.85 points or 0.40% to 17,245.65. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Thursday, March 24, 2022. List of such Stocks:

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Ruchi Soya: Patanjali-backed FMCG company Ruchi Soya Industries will launch its follow-on public offering (FPO) today, i.e. Thursday, March 24, 2022, to garner about Rs 4,300 crore. The company has fixed a price band of Rs 615-650 for the public offer. The issue will close on March 28. The retail quota of the FPO stands at 35%. Besides, FMCG company has mobilised Rs 1,290 crore from anchor investors at an issue price of Rs 650 per share (27.6% discount from CMP of Rs 897.45 per share) on March 23, ahead of its follow-on public offering (FPO). Anchor investors who participated in the offer include names like AG Dynamic Fund (6.2%), Authum Investment (6.4%), India Emerging Opportunities Fund (9.7%), Quant Mutual Fund (13.7%) and SBI Life (9.7%).

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Kotak Bank: Canada Pension Plan Investment Board (CPPIB) will sell 4 crore shares, representing a 2% stake in Kotak Mahindra Bank through block deals. According to the term sheet for the deal, CPPIB is selling the shares at a price band of Rs 1,681.26-1,769.75 per share. The deal size is Rs 5,000 crore. The base size of the block deal is for 2.8 crore Kotak Bank shares and the seller also has the option to offload an additional 1.2 crore shares. The lower end of the band is at a 5% discount to Kotak Bank’s Wednesday close on the BSE at Rs 1,768. 

Zee Entertainment: Invesco has withdrawn its demand for an EGM and has also favoured the Zee-Sony merger. Invesco believes that the merger will benefit the shareholders. The merger will lead to changes in the board of the company, which will also strengthen its oversight.

Hero MotoCorp: The largest two-wheelers manufacturer in the world has provided its clarification on IT Department raids at Hero MotoCorp Chairman Pawan Munjal's residence, office and has said that it was a routine inquiry, which is not uncommon before the end of the financial year. The IT department visited two of the offices in Delhi and Gurugram and the residence of Chairman's residence on Wednesday. 

Indian Oil Corporation: India's top refiner IOC bought 3 million barrels of Russian Ural crude for May loading from trader Vitol. the company also purchased 1 million barrels of Nigerian Agbami and Usan crude from Exxon.

IGL: Indraprastha Gas Limited (IGL) has hiked the price of domestic piped natural gas (PNG) in Delhi by Rs 1 to 36.61 per unit (measured in standard cubic metres or SCM). 

Sun Pharmaceutical: The company on Wednesday said it along with its US-based arm Ranbaxy, Inc, has signed a USD 48.5 crore (around Rs 3,700 crore) settlement with two plaintiff groups regarding Ranbaxy generic drug application antitrust litigation.

TCS: The Rs 18,000-crore share buyback of Tata Consultancy Services was subscribed more than 7.5 times on Wednesday - the last day for tendering of shares. Investors offered 30.12 crore shares in the buyback process against the company's offer of four crore shares. The buyback started on March 9, 2022. The total retail application received by the company stands at 11.35 lakh while the expected acceptance ratio was 22-24%. 

Affle India: The company has invested Rs 133 crore in Talent Unlimited online service (Bobble AI).

Promoter Action 

L&T Finance: Promoter L&T Finance buys 2.12 crore shares at Rs 83.52/share. 

Fund Action 

NALCO: Integrated Core Strategies Asia sells 92.4 lakh shares at Rs 121.95/share. 

Bulk Deals 

Advani Hotels: Delta Corp sells 4 lakh shares at Rs 97.37/share.