Stocks in News: Hero MotoCorp, Tata Consumer, SBI, ONGC among other key scrips to watch out for on Wednesday

The Indian markets on Wednesday closed on positive note, lifted by pharma and financial service stocks. The benchmark indices such as Sensex and Nifty50 – gained by around 0.6 per cent at close.  

The markets surged on the back of expectations of progress in negotiations between Russian-Ukrainian delegates in Istanbul, Turkey, Mohit Nigam Head – PMS at Hem Securities said in a note. 

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Sectorally, the buying interest was seen in sectors such as banking, financial service, IT, metal, pharma, and realty, while selling pressure was witnessed in media, FMCG, auto and PSU banks. 

Stocks such as Hero MotoCorp, Tata Consumer, CSB Bank, ONGC, SBI, Exide Industries, ICICI Bank, Strides Pharma, Jindal Stainless, Indigo among others are likely to be stocks in focus on Wednesday.   

Stocks in News 

Tata Consumer to buy 10.15% stake in Tata Consumer Products UK Group for Rs 570.8 crore 

CSB Bank: C. VR. Rajendran, MD & CEO to take early retirement due to health reasons, submitted two shortlisted names to RBI for MD & CEO position 

Hero MotoCorp to increase ex-showroom prices by up to Rs 2,000 from April 5, 2022.  

Hero MotoCorp denies reports of I-T bogus expenses; says “reports are not borne out of any document that have been served on us or our internal documents.” 

Oil & Natural Gas Corporation: Government to sell 9.43 crore shares of the company through Offer-For-Sale on March 30; floor price set at Rs 159 per share. 

State Bank of India to buy 13.82 per cent stake in SBI Global Factors. 

Exide Industries board approves merger of subsidiary Chloride Power with company 

IDBI Bank to sell 11.1 per cent stake in National Securities Depository Ltd (NSDL) and will also sell 20 crore shares in Ageas Federal Life to Ageas Insurance. 

ICICI Bank: Private lender to buy Open Network's 10 lakh shares for Rs 10 crore. 

Strides Pharma: R. Ananthanarayanan resigns as MD, CEO Arun Kumar, founder, to take over as Executive Chairperson & MD effective April 7, 2022. 

Jindal Stainless: Ratan Jindal reappointed Chairman & MD from 1st April, 2022 till 31st March, 2027. 

Interglobe Aviation appoints Gaurav Negi as CFO after Jiten Chopra resigns from the CFO position. 

Ruchi Soya reschedules board meeting to March 31; the board was scheduled to meet today 

Gujarat Fluorochemicals: Last day to buy company’s shares for dividend eligibility