From Ruchi Soya to Future Retail: Here are key stocks to watch on April 1
The benchmark equity indices on the BSE and National Stock Exchange (NSE) had ended 0.2 per cent lower on the last day of the financial year 2021-22 (FY22) weighed by market heavyweight Reliance Industries (RIL). The S&P BSE Sensex fell 115.48 points (0.20 per cent) to end at 58,568.51 while the Nifty 50 slipped 33.50 points (0.19 per cent) to settle at 17,464.75 following a choppy session due to the expiry of March derivatives contracts.
Here are the key stocks to watch on Friday, 1, 2022:
Nearly 97 lakh bids were withdrawn in Ruchi Soya Industries’ Rs 4,300 crore follow-on public offer (FPO) after markets watchdog Sebi had directed the company to give investors the option to withdraw their bids, PTI reported citing sources.
However, the FPO is complete. The company on Thursday fixed the issue price of its FPO at the upper limit of its price band at Rs 650 per equity share.
Debt-ridden Future Retail’s CEO Sadashiv Nayak has resigned from the post seven months after his appointment, according to a filing.
Future Group CEO Kishore Biyani has been re-appointed as executive chairman of the company for three years.
Reliance Industries, ONGC, Oil India
The government on Thursday more than doubled the price of domestically produced natural gas used in CNG and as piped kitchen gas for the six months beginning April 1 on the back of a spike in global energy rates.
The price of gas from regulated fields of state-owned ONGC and Oil India (OIL) will rise to a record $6.10 per million British thermal unit (mmBtu) from the current $2.90, according to a notification issued by the oil ministry’s Petroleum Planning and Analysis Cell (PPAC).
The Income Tax Department has found alleged illegal business expenses of over Rs 800 crore, Rs 60 crore “unaccounted” cash used to purchase land in Delhi and role of some shell companies after it raided Hero Motocorp and two other groups, officials said on Thursday.
-with PTI inputs