Stocks in news: SBI, Biocon, Zensar Tech, IRCTC, Hindustan Zinc and more

Indian equity benchmarks on Tuesday extended their fall for the third straight session, dragged by technology and state-owned lenders. Sensex was down 19 points, or 0.03 per cent, at 60,673 and NSE Nifty index fell 18 points, or 0.10 per cent, to close at 17,827. Mid and smallcap shares finished on a weak note, with the Nifty Midcap 100 and smallcap shedding 0.36 per cent, respectively. India VIX jumped 4.67 per cent to 14.01.

Here’s a look at stocks that are likely to remain in news today.

LIC Housing Finance: ICICI Prudential Mutual Fund has bought an additional 2.03% in the housing finance company through open market transactions. With this, the mutual fund house shareholding in the company rose to 7.07%, up from 5.04% earlier.

Petronet LNG: The company has received nod from board members for extension of tenure of Vinod Kumar Mishra as Director (Finance), the whole-time Key Managerial Personnel and Chief Financial Officer, for another two years. The extension of two years will be effective from April 18, 2023 on the existing terms and conditions.

Biocon: The biopharmaceutical firm has raised Rs 1,070 crore by issuing 1.07 lakh non-convertible debentures of face value of Rs 1 lakh each on private placement basis in 3 Series. The tenure of the NCDs is five years from the deemed date of allotment.

Sapphire Foods India: The quick service restaurant company's wholly owned subsidiary Gamma Pizzakraft (Overseas) has raised stake in its subsidiary Gamma Island Food to 75%, from 51% earlier after acquisition of 81,914 equity shares. The acquisition cost of those shares is MVR 1,88,40,220. Gamma Island Food is incorporated in the Republic of Maldives, to operate Pizza Hut and KFC restaurants in Maldives under franchisee agreements.

Zensar Technologies: Nippon Life India Trustee has bought additional 1.7529% stake in the IT services management company via open market transactions. With this, its stake in the company increased to 5.2275%, up from 3.4745% earlier.

BEL: Bharat Electronics Ltd (BEL) has inked an MoU with Aeronautical Development Agency (ADA), DRDO, for the Advanced Medium Combat Aircraft (AMCA) programme. The MoU was announced on the sidelines of the “Bandhan” event held at Aero India 2023.

Hindustan Zinc: Hindustan Zinc will hold a meeting of the equity shareholders of the company on March 29 pursuant to the NCLT order in the matter of proposed scheme of arrangement between the company and its shareholders.

Lupin: The company announced the launch of Lurasidone Hydrochloride Tablets in the US market. The tablets of various mg had estimated annual sales of $4.2 billion in the US.

Cyient: The firm has announced a partnership with Thingtrax to enable manufacturers to raise efficiency and reduce costs. The partnership will enable global manufacturers to drive higher performance across their entire manufacturing operation through AI-powered data.

Capacite Infraprojects: It has received a contract worth Rs 181 crore from Indian Oil for construction of residential towers at Indian Oil Nagar in Mumbai.

PTC Industries: Aerolloy Technologies, a wholly owned subsidiary of PTC Industries has signed a memorandum of understanding (MOU) with Dassault Aviation, a major player in the global aerospace industry.

SBI: The lender has successfully raised Rs 4,544 crore non-convertible, taxable, perpetual, subordinated, unsecured, fully paid up Basel III compliant AT-1 bonds at a coupon of 8.20% per annum.

IRCTC: Shares of IRCTC, the tourism and ticketing arm of Indian Railways will trade ex-dividend today with respect to the Rs 3.5 dividend announced along with the third quarter results.

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