State Bank of India, SBI Card, BPCL, aviation stocks

Share Market Holiday:

NEW DELHI: Here are the top 10 stocks that could be in focus on Wednesday State Bank of India The Reserve Bank of India (RBI) on Tuesday said it has imposed a penalty of ₹2 crore on India’s largest lender State Bank of India for non-compliance of regulations in payment of remuneration to its employees through commissions.

Indian equities have been lacklustre for the last few sessions

SBI Cards & Payment Services: American private equity firm Carlyle Group will sell its stake worth Rs3,730 crore or $513 million in SBI Cards & Payments Services Ltd through a block deal, according to deal terms seen by Mint. As of 31 December, Carlyle held a 15.86% stake in the credit card company.

BPCL: State-run oil refiner Bharat Petroleum Corp Ltd (BPCL) on 16 March declared second interim dividend of ₹5 apiece for the financial year 2020-21. The record date has been fixed as 27 March to determine the eligibility of shareholders to receive the said interim dividend.

Gland Pharma: Gland Pharma Ltd, the Indian unit of China’s Fosun Pharma, said it has agreed to produce as many as 252 million doses of Russian Direct Investment Fund’s (RDIF’s) Sputnik V covid-19 vaccine at its Hyderabad facility.

AU Small Finance Bank: On Tuesday said it has raised ₹625.5 crore through a qualified institutional placement (QIP) of 5 million shares at ₹1,251 apiece. The issue, the bank said, was launched post-market hours on 9 March at a floor price of ₹1,181.06 per share and witnessed strong demand from investors.

Shriram City Union Finance: The Banking and Securities Management Committee of the company on Tuesday approved the issue of secured rated listed redeemable principal-protected market-linked (PP-MLD) non-convertible debentures (NCDs) of the face value of Rs10,00,000 each, aggregating up to 5,000 NCDs amounting to Rs500 crore.

Airline stocks: Oil marketing companies on Tuesday raised prices of aviation turbine fuel (ATF) by about 8% month-on-month as global crude oil prices firmed on improved demand. ATF or jet fuel prices have risen about 18% since 1 January.

Tata Communications: The government is selling its 10% stake in the company, with an option to liquidate an additional 6.12%. As of 31 December, the government held 26.12% stake through the President of India. Panatone Finvest, an investment arm of Tata Sons, owns 34.8%, while Tata Sons has 14.07% stake in the company.

Tech Mahindra: Has acquired a 70% stake in Ireland-based Perigord Asset Holdings Ltd. The deal will happen for a cash consideration of €21 million. This acquisition seems logical as it will help Tech Mahindra expand its capabilities in the global pharmaceutical, healthcare, and life science segment, according to analysts.

Gold prices had fallen to near 12-month lows last week