Stocks in News: Nazara Tech, Canara Bank, Info Edge among other key scrips to watch on Monday
The Indian markets continued its losing streak for the third straight session on Friday amid high volatility
The Indian markets continued its losing streak for the third straight session on Friday amid high volatility. Both the benchmark indices – Sensex and Nifty50 – closed around 1.5 per cent lower, mainly dragged by auto, banking and financial services among other indices.
Amid geopolitical tensions between Russia and Ukraine crisis, the uncertainty in the markets continued. The crisis has skyrocketed global commodity prices, including crude oil and metals.
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The market analyst and TradeSwift Director Sandeep Jain states that the market is bad technically and would be more oversold fundamentally. However, the stock specific action during Monday’s session is likely from billionaire investor Rakesh Jhunjhunwala-backed stock Nazara Technologies and Canara Bank along with InfoEdge PNB Housing, Poonawalla Fincorp, NTPC, Wipro, Vodafone Idea.
Similarly, largely impacted by rising oil price – Paint, Aviation, Cement, Oil and Gas among other sectors may also see action on Monday.
Stocks in News
Info Edge has acquired a 76 per cent stake in online dating company Aisle Network for Rs 91 crore, a regulatory filing said. IT company owns platforms such as Naukri.Com and Jeevansathi.
Nazara Technologies will acquire a 33 per cent stake in Datawrkz Business Solutions and the board has approved investment of up to Rs 30 crore in its subsidiary Next Wave Multimedia, the company said in a regulatory filing.
Poonawalla Fincorp Limited said its Chief Executive Officer Vijay Deshwal has stepped down to take up another role in Cyrus Poonawalla Group.
Vodafone Idea: Promoter Vodafone plans to infuse up to Rs 3,375 crore into debt-ridden in the company as part of the company's proposed raising of funds worth Rs 14,200 crore.
PNB Housing Finance board would take a call on raising capital, including through rights issue, next week after a failed attempt to garner Rs 4,000 crore by selling stake to Carlyle Group last year.
Canara Bank said it has raised Rs 1,000 crore by issuing Basel-III compliant additional tier I bonds.
NTPC Limited said it will start commercial operations of 74.88 megawatt capacity (MW) of its 296 MW Fatehgarh solar project in Rajasthan from midnight.
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