Stocks to Watch: Zee Entertainment, Ruchi Soya, Zomato, ICICI Bank, Colgate

Shares of Zee Entertainment will be in focus as Invesco has decided not to pursue an extraordinary general meeting (EGM) to add six independent directors on Zee's board.

The markets are likely to start Thursday's session on a tepid note owing to fresh spike in oil prices and back-to-back hikes in petrol, diesel rates. As of 07:45 AM, the SGX Nifty March futures quoted at 17,205 – down 70-odd points when compared with the Nifty futures close on Wednesday.

Meanwhile, these are the stocks to watch out for in trade today: 

ICICI Bank: The Reserve Bank of India (RBI) has approved SBI Mutual Fund, along with other SBI group companies, to hold a 9.99% stake in ICICI Bank. At the end of the December quarter, SBI Mutual Fund had 5.72% stake in ICICI Bank. Read here 

Zee Entertainment: As per reports, the company's largest shareholder Invesco has decided not to pursue an extraordinary general meeting (EGM) to add six independent directors as it believes Zee’s merger with Sony will achieve its objective of strengthening board oversight.

Hero MotoCorp: The Income Tax Department conducted extensive search operations at the residential and office premises of senior management of Hero MotoCorp on Wednesday, including its Chairman and MD & CEO Pawan Munjal over alleged tax evasion. Read here

Bajaj Electricals: Home-grown consumer appliances brand Bajaj Electricals Ltd (BEL) on Wednesday announced the extension of its trademark agreement with the United Kingdom-based Morphy Richards for a further 15 years with effect from July 1, 2022. Read here. 

Kotak Mahindra Bank: Canada Pension Plan Investment Board (CPPIB) plans to offload up to 2.02 per cent stake in private sector lender Kotak Mahindra Bank on Thursday. A total of 40 million shares have been put on the block in the price band of Rs 1,681.26-1,769.75. Read here

HDFC Bank & Axis Bank:  Private sector lenders HDFC Bank, Kotak Mahindra Bank and Axis Bank have acquired 7.84 per cent stake each in the open public digital infrastructure framework entity ONDC. All the three banks have invested Rs 10 crore each. Read more

HDFC: India’s largest mortgage financier, HDFC Ltd, has approved retail home loans to the tune of Rs 2 trillion in FY22 so far, signifying the huge demand for home loans in an otherwise subdued credit market. This is the highest ever home loan approval by the mortgage financier in a financial year. Read here  

Ruchi Soya: The company’s Rs 4,300-crore follow-on public offering (FPO) opens for subscription on Thursday. The company has allotted shares worth Rs 1,290 crore to anchor investors ahead of its FPO. 

Zomato: Food delivery giant Zomato on March 23 announced the dissolution of Zomato Canada Inc, its step-down subsidiary company based out of Toronto. In its filing with BSE, it said that its Canadian arm was not a "material subsidiary" and hence, its closure would not affect the overall turnover or revenue of the company.

Piramal Enterprises: Board of directors to meet on March 28 to consider issue of NCDs. Issue size is Rs 375 crore. 

Colgate-Palmolive: Board to consider interim dividend on March 28. 

CSB Bank: The Reserve Bank of India has approved the appointment of Pralay Mondal, Deputy Managing Director, CSB Bank as interim Managing Director and CEO, for three months from April 1, or till the appointment of a regular Managing Director and CEO, whichever is earlier. 

GPT Infraprojects: The company has bagged an order worth Rs 118 crore. This contract is a joint venture, of which GPT's share is 51 percent.

Triveni Turbine: Subsidiary Triveni Turbines DMCC has signed an agreement to acquire 70 per cent stake in South Africa-based TSE Engineering Pty Ltd for 11.9 million South African rand, and the deal is expected to be completed by March 31. 

HUL: Leading spice maker MDH Ltd has refuted the reports of a possible sale of its business to FMCG maker HUL. The reports suggested that MDH promoters are in talks to sell their business to HUL. 

Filatex India: The board on March 29 will consider the proposal for the buyback of fully paid-up equity shares of the company. 

Nelco: Nelco and Omnispace announced a strategic cooperation agreement to enable and distribute 5G non-terrestrial network (NTN), direct-to-device satellite services. The collaborative effort will expand the reach of 5G using satellite communication throughout India and South Asia.

Stocks in F&O ban: Balrampur Chini Mills, Delta Corp, GNFC, Indiabulls Housing Finance, SAIL, and Sun TV Network are under the F&O ban for March 24.