Stocks to watch today: PVR, GAIL, Bharti Airtel, DLF, Vodafone Idea

PVR, Bharti Airtel, GAIL, DLF, WIPRO, Vodafone Idea among stocks to watch today

28 Mar , 2022 By : monika singh

Domestic markets enter a fresh week of trading on the back of three successive days of closing in the red. S&P BSE Sensex, on Friday, closed 233 points or 0.41% lower at 57,362 while the NSE Nifty 50 shed 69 points or 0.40% to settle at 17,153. Bank Nifty was holding just above 35,400. Analysts have turned positive on the overall breadth of the markets, however, caution is still the word on Dalal Street as indices keep moving on global cues. Ahead of Monday’s opening bell, SGX Nifty was trading with losses hinting at a weak start to the day’s trade.

PVR: The multiplex industry is heading for consolidation with PVR and Inox Leisure announcing a merger on Sunday. As per the agreement, Inox will merge with PVR in a share swap ratio of 3 shares of PVR for every 10 shares of Inox. The deal will see PVR chairman Ajay Bijli be appointed the managing director and joint MD of the entity, subject to CCI approval.

Bharti Airtel: Telecom major Bharti Airtel has entered into an agreement to acquire over 7%in Avaada KNShorapur, an SPV formed to own and operate captive power plants, for Rs 1.74 crore as cash consideration. Additionally, Airtel will also acquire 4.7% Equity In Indus Towers Limited for Rs 2,388 crore.

DLF: Real Estate major DLF will invest around Rs 2,000 crore to construct two new shopping malls in Gurugram and Goa, the company’s MD said in an interview.

GAIL: State-owned GAIL will on March 31 consider the buyback of shares — the second buyback in as many years. The company said that it will also consider approving the financial results of the final quarter of the fiscal year on the same day.

Wipro: On Friday, IT giant Wipro’s board informed the bourses that its board of directors has considered and approved an interim dividend of Rs 5 per equity share of par value Rs 2 each for the Financial Year 2021-22.

Vodafone Idea: struggling telco VI said that its promoters would infuse Rs 4,500 crore into the company, only Rs 1,125 crore can be utilised by the telco as the remaining amount will be used to clear dues of Indus Towers.

Indian Hotels: Hospitality firm Indian Hotels announced the closure of its Qualified Institutional Placement. The QIP saw allotment of 9,90,09,900 Equity Shares of face value of Re 1 each to eligible qualified institutional buyers at the issue price of Rs 202 per equity share.

Emami: FMCG firm has announced the acquisition of Dermicool. Emami will pay Rs 432 crore for the acquisition, which will see Emami become a market leader in this niche segment.