Infosys, TCS, Sun Pharma, IndiGo, Dish TV, Spicejet, ONGC, Indian Oil stocks in focus
The near term market direction would continue to be driven by factors like the assembly election outcome, ECB and US Fed meeting – apart from the ongoing Russia-Ukraine conflict.
Indian equity markets, along with global equities continued to see volatility after Russia-Ukraine third round of talks failed to achieve any significant outcome on Tuesday. :After correcting by almost 15% from its Jan peak, Nifty 1-year forward valuation is now below its 10 year average. Even several large cap blue chip stocks are down 20-30% and are available at reasonable valuations making them attractive for long term investors. However, the near term market direction would continue to be driven by factors like the assembly election outcome, ECB and US Fed meeting – apart from the ongoing Russia-Ukraine conflict,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
Stocks in focus on March 9, Wednesday
Infosys: Dow Jones and Infosys on Tuesday announced expanded collaboration to develop new human-centered digital experiences, according to an exchange filing. As part of the program, Infosys will work with Dow Jones to build and deliver an enhanced set of capabilities that will use analytics and machine learning to save decision-makers time and separate the signal from the noise.
Tata Consultancy Services: TCS has set an ambitious milestone to achieve $50 billion in revenues by 2030. To achieve this, the company has embarked on a reorganisation, said MD and CEO Rajesh Gopinathan. The IT major is considering dividing its operational structure into four groups– acquisition, relationship incubation, enterprise growth, and business transformation — versus the existing three now.
Sun Pharma: Sun Pharmaceutical subsidiary Taro Pharmaceuticals USA Inc has completed the acquisition of subsidiary companies of Galderma. The acquired subsidiaries of Galderma included Galderma Holdings Inc, Proactiv YK, and The Proactiv Company Corporation. These subsidiaries sold products under the Proactiv, Restorative Elements and In Defense of Skin brands. The company paid $99.279 million for the entire transaction.
Dish TV: Dish TV Ltd has disclosed its results of the annual general meeting, according to an exchange filing. The disclosure comes a day after markets regulator Sebi in an ad-interim order directed Dish TV to disclose the results of its AGM that was held on 30 December within 24 hours. According to the information updated with the exchanges, the shareholders have rejected all the three resolutions proposed in the AGM.
IndiGo, Spicejet: The Indian government on Tuesday announced the resumption of commercial international flight services from 27 March. The stocks of IndiGo and SpiceJet will be in focus.
Oil stocks: Crude prices are likely to scale new heights after the US announced a ban on Russian oil. Stocks of ONGC, IGL, Indian Oil, among others may see a lot of activity on Wednesday.
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