Stocks in News: Hero MotoCorp, Federal Bank, Godrej Agrovet among key scrips to watch out for on Thursday

The Indian market amid volatility erased opening gains to close near day’s low. Both the benchmark indices – Sensex and Nifty50 – slipped by around 0.5 per cent. The broader markets outperformed benchmarks, as Nifty Midcap 100 gained almost 0.6 per cent at the close. 

Markets seem to be lacking a clear direction of any kind now. Stocks are likely to remain range bound until some big news comes out of Ukraine or on the inflation front in the US, Rahul Shah-Co-Head of Research at Equitymaster said in a note. 

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The analyst said, domestically, March quarter results will soon start having bearing on how the stock prices behave over the next few months. He suggests, investors to be a stock picker's market where focus should be on news and developments around individual stocks rather than the entire market. 

Stocks such as Oberoi Realty, BSE, Federal Bank, Godrej Agrovet, Hero MotoCorp, RNVL, Larsen and Toubro, Ruchi Soya, Bharat Electronics among others are likely to be stocks in focus on Wednesday.  

Stocks in News 

Oberoi Realty raises stake in joint venture Homexchange to 47.5 per cent 

Godrej Agrovet makes Rs 25 crore additional investment in Godrej Maxxmilk  

BSE in pact with Federal Bank to promote SME, Startup listing 

HCC board approves appointment of Jaspreet Singh Bhullar as CEO as UV Phani Kumar resigns from the position. Arjun Dhawan appointed Vice Chairman of the Board & reappointed whole-time director for 5 years 

Hero MotoCorp confirms Income Tax Department officials visited offices and the residence of Pawan Munjal. It says believe this is a routine inquiry, which is not uncommon before the end of the financial year. 

Corporate Action 

Ruchi Soya's Follow-on Public Offer (FPO) will begin from Thursday, March 24, 2022. The company has set a price band of Rs 615- 650 per share. 

Mayur Uniquoters’ Buyback will open from March 24, 2022; the price set at Rs 650 per share. 

Larsen and Toubro’s board to meet on Thursday to consider and decided on fundraising. 

The ex-date of Vardhman Textiles’ stock split from Rs 10 to Rs 2 per share, while Nandan Denim’s bonus issue 2:1 on Thursday.  

Bharat Electronics, RVNL, RITES to be eligible for interim dividend: Rs 1.5, Rs 7.5 and Rs 1.58 per share respectively on Thursday.