The SGX Nifty signals a weaker start for the Indian benchmark indices Sensex and Nifty today. Cues from US markets remain weak too after the Fed’s announcement to hike rates by 25 bps. The Nifty today will likely see resistance at 17,250, and on the downside, the Nifty’s immediate support stands at 16,900, according to analysts.
Top stocks to watch today include HAL, Reliance Industries, Hero Motocorp, Nazara Technologies, HG Infra, besides others.
Hindustan Aeronautics Ltd (HAL): Shares of HAL will be in focus today after the Government of India decided to offload 1.75% stake in the company via an Offer For Sale (OFS). They further have an option to sell additional 1.75% stake in the offer too. The floor price for the OFS is set at Rs 2,450, a 6.7% discount to Wednesday’s closing price. The govt currently holds a 75.15% stake in the company.
Reliance Industries: Reliance Industries share price today will be in focus after the company on Wednesday evening announced their foray into the FMCG space by launching distinct brands for products across bath, hygiene, laundry, home care and other categories.
Hero Motocorp: Hero MotoCorp share price will be in focus today as the company announces a hike in Ex-showroom prices for select motorcycles & scooters with effect from April 1, 2023. The announcement is expected to bring in a price revision of around 2%.
Nazara Technologies: Nazara Technologies shares will be in focus after the company’s subsidiary Sportskeeda acquired a 73.27% stake in Pro Football Network LLC, at a vlue of $1.8 Million. PFN is a premier source of coverage and analysis of the NFL (United States’ most watched sport) and college football.
HG Infra: HG Infra will be in major focus today as the company is being declared as the L-1 bidder by NHAI (National Highways Authority of India) for an important project in Jharkand. The cost of the project is around Rs 765 crore and is to be completed in 730 days.