Stocks in Focus on March 3: Vedanta, UPL, ONGC, JSW Steel, Railway Stocks and many more

The domestic equity barometers ended with deep cuts on Wednesday, March 2, 2022. The S&P BSE Sensex tumbled 778.38 points or 1.38% to 55,468.90. The Nifty 50 index lost 187.95 points or 1.12% to settle at 16,605.95. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Thursday, March 3, 2022. List of such Stocks:

Vedanta: The Board of Directors of the Company through a resolution passed by circulation on Wednesday, March 2, 2022, have approved a third interim dividend of Rs 13 per equity share for the Financial Year 2021-22 amounting to Rs 4,832 Crores. The record date for payment of the dividend is Thursday, March 10, 2022.

UPL: Agrochemicals major UPL Ltd on Wednesday announced a buyback of shares worth up to Rs 1,100 crore from shareholders, excluding promoters. The buyback of shares will be at a price not exceeding Rs 875 per equity share through the open market route. A total of 1.257 crore equity shares will be bought back, which is approximately 1.65% of the paid-up share capital of the company.

ONGC: Sanctions over Russia will have no immediate impact on ONGC Videsh. India's ONGC Videsh said it and its partners will decide on how to keep operating the Sakhalin 1 project over the next few weeks after Exxon Mobil decides to exit Russia's oil and gas sector over Moscow's invasion of Ukraine. Exxon, with a 30% stake, has operated the project in Russia's Far East since production began in 2005. ONGC Videsh and Japan's SODECO own 20% while the remainder is held by Rosneft.

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JSW Steel/Jindal Steel: Coal Ministry has received 26 bids for auction of eleven Coal Mines in the 4th tranche of the auction of coal mines for sale of coal. Two or more bids have been received for five coal mines. In total 21 companies including JSW Steel and Jindal Steel have placed bids for 11 coal mines. 

Railway stock: Especially Titagarh wagon, Kernex micro (Private Players in focus) as Railway Minister Ashwini Vaishnaw on Wednesday said that the Indian Railways will come up with a policy in the next seven to eight days to make private-sector research and development (R&D) a major part of the railway budget with 90% allocation in the future. The policy can come up. 

Malls + Restaurants + Theaters: Amid an improvement in the CORONAVIRUS situation, the Maharashtra government on Wednesday relaxed restrictions in 14 districts including Mumbai. It has allowed restaurants, cinema halls, theatres, swimming pools, religious places, entertainment parks to function at 100% capacity from March 4, 2022. These 14 districts are Mumbai city, Mumbai suburban district, Pune, Nagpur, Ratnagiri, Satara, Sangli, Gondia, Chandrapur, Bhandara, Raigad, Sindhudurg, Wardha, and Kolhapur.

Bulk Deal

Dhani Services: Promoter Zelkova Builder buys 1.6 crore shares. BOFA Securities Europe SA buys 35.14 lakh shares. Tamarind Capital Sells 1.1 crore shares. Jasmine Capital Sells 1.84 crore shares. All deals are made at Rs 77 per share.