The GIFT Nifty futures were trading in the green before the market’s opening on Thursday. Indices are expected to open on a similar positive note.
Domestic benchmark indices NSE Nifty 50 and S&P BSE Sensex ended over 1% lower on Wednesday, dragged by selling in banking heavyweights and Reliance Industries. Nifty settled 247.20 points or 1.11% lower at 21,951.15, while Sensex slumped 790.34 points or 1.08% to settle at 72,304.88.
Here are some stocks that are likely to remain in focus on February 29.
Venus Pipes and Tubes: The company has announced its foray into the stainless steel pipes and tube fittings business and a capacity expansion for seamless and welded pipes and tubes with a total capex of Rs 175 crore.
Coal India, Bharat Heavy Electricals Ltd (BHEL): The two companies have signed a joint venture agreement (JVA) to undertake a coal-to-chemicals business by setting up an ammonium nitrate plant. Coal India will own 51% of the joint venture and BHEL 49%.
NTPC: The Central Public Sector Undertaking’s unit, NTPC Green Energy, has signed a joint venture agreement with Maharashtra State Power Generation Company for the development of renewable energy parks in the state.
Reliance Industries: Reliance Industries, Viacom18 Media, and The Walt Disney Corporation have inked definitive agreements to form a Rs 70,352 crore joint venture to merge the television and digital streaming businesses of Viacom18 and Star India.
ICICI Securities: The Securities and Exchange Board of India (SEBI) has issued an administrative warning letter to the financial services company for the books and records associated with Merchant Banking activities.
UPL, Shriram Finance: With the National Stock Exchange’s periodic review, Shriram Finance will replace UPL in the benchmark Nifty 50 index with effect from March 28.
JSW Steel: The company incorporated a new wholly-owned subsidiary, JSW Green Steel, which will be manufacturing hot-rolled and cold-rolled steel products, which is in line with the company’s main line of business.
Wipro: The IT major completed the migration of ManpowerGroup’s largest data centre in Europe to Microsoft Azure.
