Stocks to Watch: Aurobindo Pharma, RIL, Ruchi Soya, Tata Power, PowerGrid

Shares of drugmaker Aurobindo will be in focus as the company has acquired the domestic formulation business of Veritaz Healthcare on a slump sale basis at Rs 171 crore.

The markets are likely to start on a positive note on Tuesday as crude prices slumped 8 per cent overnight due to lockdowns in Shanghai and likley ease in demand from China. The SGX Nifty futures were quoting at 17,430 levels at 7:45 am, hinting at a gap-up open of around 100 points for the Nifty50. 

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

Aurobindo Pharma: Hyderabad based drugmaker Aurobindo has acquired the domestic formulation business of another Hyderabad based firm Veritaz Healthcare on a slump sale basis at Rs 171 crore. Read more

RIL: Company's arm Reliance Jio is in advanced talks with South Korean consumer electronics and telecom gear maker Samsung for the latter to be its third party technology provider, complementing Reliance Jio’s efforts to roll out a 5G network across the country. Read more

Moreover, Reliance Jio on Monday announced a monthly recharge plan of Rs 259 for its prepaid customers. It is its maiden prepaid recharge plan with full one-month validity.  Read here

Coal India: Allaying fears of coal supply shortage, state-owned Coal India on Monday said it is concentrating its efforts to meet the projected demand of the power sector on priority basis. The state-owned coal miner in this fiscal till March 24 has supplied an all-time high of 528 million tonnes (MT) of coal to the country's power utilities. Read here

Ruchi Soya: The Securities and Exchange Board of India (Sebi) has directed Ruchi Soya Industries to give the investors who participated in its Rs 4,300-crore follow-on public offering (FPO) the option to withdraw their bids due to “circulation of unsolicited SMSes advertising the issue”. Read here

Power Grid: The company has approve investment worth ₹821.3 cr in 5 projects. 

Somany Ceramics: Board has approved investment of Rs 9.50 crore in arm SR continental 

GR Infraprojects: The company has got two orders in Maharashtra on hybrid annuity mode under commercial operation from NHAI. The projects are worth Rs 1744 crores. 

Tata Power: The company and Rustomjee Group have collaborated to set up electric vehicle charging infrastructure at the commercial and residential projects of the latter across Mumbai metropolitan region.

Piramal Enterprises: The company has approved allotment of 1,750 secured NCDs each of face value of Rs 10 lakh at a price of Rs 10,05,497 per debenture aggregating to Rs 175.96 crores on a private placement basis.

ICICI Bank: The bank has signed an agreement for investment in India Debt Resolution Company. It will buy 15 per cent stake in IDRC for Rs 7.5 crore with the first investment of Rs 3 crore by March 31.

Zensar Technologies: The company has opened a global delivery centre in Kolkata to support global clients and leverage local talent.

Welspun Specialty Solution: The company has got an order worth Rs 16 crore for supply of seamless pipes. 

Sudarshan Chemical Industries: Board has approved raising Rs 200 cr via NCDs.