Stocks to Watch: RIL, Adani Group, Ruchi Soya, Maruti, SBI, JSPL, FMCG

Reliance Retail Ventures, a subsidiary of Reliance Industries, has bought 89 per cent stake in Purple Panda Fashions for Rs 950 crore.

The key benchmark indices are likely to start trade on a positive note given the strong gains in the US markets over the last two trading sessions. As of 07:00 AM, the SGX Nifty March futures quoted at 17,400 as against the spot Nifty close of 17,287 on Thursday. Meanwhile, here are the stocks to focus in trade on Monday. 

Reliance Industries (RIL): The Mukesh Ambani-led company’s retail venture - Reliance Retail Ventures (RRVL) has acquired 89 per cent stake in Purple Panda Fashions, which owns and operates the Clovia business, for an investment of Rs 950 crore. READ MORE  

Meanwhile, over the weekend, the company’s senior official said it may avoid buying Russian fuels for its plants following Western sanctions on Moscow over its invasion of Ukraine. RIL buys Urals crude and straight run fuel oil for its refineries from Russia. 

Maruti Suzuki: Suzuki Motor, the parent company of Maruti Suzuki, plans to invest Rs 10,440 crore to build a new electric car and battery factory in India. Maruti Suzuki, which sells one in every two cars on Indian roads, is expecting to roll out affordable EV models in both Japan and India as early as 2025. READ MORE

SBI: The country's largest lender has lined-up a dozen non-performing assets (NPAs) on sale to recover loan dues of over Rs 820 crore, as per the bank's notifications. NPA account Topworth Urja & Metals Ltd, with a loan outstanding of Rs 396.74 crore is to be sold in an e-auction to be held on March 29, 2022.

FMCG: The Fast Moving Consumer Group companies are mulling another round of price hike to offset the impact of an unprecedented level of inflation in commodity prices such as wheat, palm oil and packaging materials. READ MORE

Ruchi Soya: The company has fixed the price band of Rs 615-650 for its follow-on public offer. The company plans to raise up to Rs 4,300 crore from the sale of shares to public. The stock last traded at Rs 1,004.45 on the BSE.

Spandana Sphoorty Financial: After over four months of uncertainty, troubled microfinance institution (MFI) Spandana Sphoorty is looking for stability and growth with full-time chief executive officer (CEO) and chief financial officer (CFO) coming on board over the weekend.  The MFI, backed by private equity fund Kedaara Capital, experienced a jolt in November 2021 after Padmaja Reddy, founder and managing director (MD), quit abruptly. READ MORE

Wockhardt: The Mumbai-based Wockhardt and Serum Institute of India (SII) have entered into a profit-sharing arrangement to make 150 million doses of SII vaccines in Wockhardt’s UK plant. According to sources, it will take at least one and a half to two years before the new facility is ready. READ MORE

Jindal Steel & Power (JSPL): The steel major said its subsidiary in Mauritius is likely to clear its entire debt, with a prepayment of $357 million made to lenders. Over the past three years, JSPL said, it has been able to reduce its overseas debt from $1.8 billion to $130 million. The bulk of its overseas debt now sits in its Australian subsidiary at $113 million, it added.

Adani Group: The group, led by Gautam Adani, has reportedly held preliminary talks on a range of potential cooperation and joint investment opportunities with Saudi Aramco and the country's Public Investment Fund. READ MORE

Dredging Corporation of India: In a major push towards the Centre’s Make in India initiative, Dredging Corporation of India and Cochin Shipyard signed an agreement to build India’s first domestically-manufactured high-capacity dredger.  The 12,000-cubic metre trailing suction hopper dredger (TSHD), which is being built at a cost of Rs 920 crore, will be delivered in 34 months.

Ceinsys Tech: The company has scheduled its board meeting on March 26 to consider various proposals including – increasing the limits relating to investments/ giving loans and guarantees. To up the authorized share capital of the company.

Stocks in F&O ban: Indiabulls Housing Finance is the only stock in the F&O ban period on Monday.