Indian stock markets are expected to open higher today. Several stocks will be in focus, including IndusInd, ONGC, L&T, RIL, Power Grid, and Ola. Global cues and economic data will determine the market's direction.
Stocks to Watch: On Monday, March 24th, the Indian stock market is likely to open with gains. GIFT Nifty Futures was trading at 23,501, up 21 points, at 7 am.
Last Week's Performance
On Friday, the Indian stock market closed higher for the fifth consecutive day. The BSE Sensex closed at 76,906, up 557 points, while the NSE Nifty50 touched 23,350, up 160 points. This marked the biggest weekly gain since February 7, 2021.
Stocks to Watch Today
IndusInd Bank
The bank has appointed Grant Thornton to conduct a forensic review of accounting irregularities that surfaced this month. The investigation will determine if any fraud or internal misrepresentation occurred.
ONGC
The company plans to import ethane from mid-2028 to offset the altered structure of liquefied natural gas (LNG) procured from Qatar, as per a released tender.
L&T
L&T has approved raising up to ₹12,000 crore through long-term borrowings, either commercially or through other means.
Godrej Properties
Godrej Properties has acquired approximately 10 acres of land in Yelahanka, Bengaluru, potentially generating revenue of ₹2,500 crore.
Power Grid Corporation
The company emerged as the successful bidder in a tariff-based competitive bidding for the Chitradurga Bellary R-E-Z transmission. It was also the successful bidder in Fatehgarh II and Barmer I PS Transmission Limited.
Reliance Industries & Welspun Corp
Reliance Industries has completed the acquisition of a 74% stake in Nauvayana Shipyard Private Limited (NSPL) from Welspun Corp for ₹382.73 crore. The company will now become a step-down subsidiary of Reliance.
NCC
NCC has received an order worth ₹1,480.34 crore from the Bihar Medical Services and Infrastructure Corporation Limited for the redevelopment of Darbhanga Medical College and Hospital.
Raymond
Raymond announced an investment of ₹65 crore in its wholly-owned subsidiary, Ten X Realty East Limited (TXREL). This investment is for a real estate project initiated by TXREL.
Alembic Pharmaceuticals
The company has completed a USFDA inspection of its API-III facility located in Karahadi. The inspection was successfully concluded without any Form 483 observations.
Ola Electric Mobility
Electric vehicle maker Ola has commenced deliveries of its S1 Gen 3 scooter portfolio across India. This includes the flagship S1 Pro+, S1 Pro, and S1 X scooters.
DAM Capital Advisors
The company received an administrative warning and deficiency letter from market regulator SEBI, advising greater caution in brokerage operations.
Apollo Hospitals Enterprise
Apollo Healthco has completed the acquisition of an 11.2% stake in KIMS from Shobhana Kamineni for ₹625.43 crore in two installments.
