Stocks in focus: BPCL, Coal India, SBI Cards and Payment Services, Tata Motors, Wipro, PSP Projects

Nifty futures were trading 89 points or 0.59 per cent up at 15,071 on Singaporean Exchange in early trade on Tuesday, indicating a gap-up opening for BSE Sensex and Nifty 50. In the previous session, NSE’s Nifty failed to hold the 15,000 mark on closing. According to a technical analyst, markets may fall further until indices cross 15280/51540 levels. “On Tuesday, Nifty/Sensex would find the support between 14860/14890 (50150/50200) levels, however, on the dismissal of 14860/50150, indices could fall to 14730/50000 or 14650/49500 levels,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities. Today, the focus should be on oil and gas-related stocks.

Stocks in focus today:

BPCL: On Monday, a sub-committee of the board of directors of Bharat Petroleum Corporation Ltd has approved the sale of BPCL equity shares which are held by the BPCL Trust for Investment in shares through accelerated book built offering of equity shares on the screen based trading platform of the stock exchanges. The total number of equity shares being offered is upto 15.89 crore equity shares held by the above trust.

Coal India Ltd: CIL will invest an additional Rs 47,300 crore to produce 193 million tonne per annum (MTPA) above its sanctioned capacity of producing 303.5 MTPA from 24 existing projects. While a chunk of the investment earmarked will go in expanding the existing 24 projects, there will be fresh investments made in 8 new projects.

SBI Cards: SBI Cards and Payment Services (SBI Card) on Monday said it was planning to raise up to Rs 2,000 crore by issuing non-convertible debentures (NCDs). The company has called a meeting of the board of directors on March 12 to consider and approve raising of funds, which will be raised in one or more tranches over a period of time, it said.

Tata Motors: Tata Motors on Monday said its shareholders have approved hiving off its passenger vehicles business into a separate entity. On March 5, the shareholders of the company voted to consider and approve the transfer of the passenger vehicles business unit to TML Business Analytics Services Ltd as a going concern on a slump sale basis for a lump sum consideration.

Wipro: Wipro announced that Appirio, a Wipro company, is helping National Grid transform its business with an omnichannel customer experience by unifying its engagement with 68 million customers across two continents. This global hybrid integration platform was recognized both for its positive business impact and for being among the first implementations of Runtime fabric for MuleSoft in the US.

PSP Projects Ltd: The company informed that it has received a Letter of Acceptances (LOA) amounting to Rs 1491.34 crore for the construction of medical colleges and hospitals at multiple locations at Uttar Pradesh. Additionally, the company has secured new work orders worth Rs 25.58 crore for residential and institutional projects from various clients in Gujarat.