Stocks in news: Bajaj Finserv, Axis Bank, HAL, Bharat Forge, Delhivery

The Nifty futures contract traded on the Singapore Exchange indicates a negative start to domestic equities. The contract was trading at 17,486.50, down 33 points or 0.19% from the previous close.

A slew of stocks will be in focus due to the following reasons:

Hindustan Aeronautics
The Board of Hindustan Aeronautics will meet on March 10 to consider and approve a second interim dividend for the financial year 2022-23. In other news, the union cabinet has approved the procurement of 70 HIT-40 basic trainer aircraft from HAL for the Indian Air Force for Rs 6,800 crore.

Rail Vikas Nigam
Rail Vikas Nigam Ltd (RVNL) emerged as the lowest bidder for manufacturing and maintenance of Vande Bharat trainsets including upgradation of the government
manufacturing units & trainset depots in JV with partners.

Bajaj Finserv
Bajaj Finserv has received a licence from market regulator Sebi to start a mutual fund business. The company will soon offer a range of mutual fund products both in the active and passive segments to investors.

Japanese multinational conglomerate Softbank Group has sold 3.8% stake in Delhivery through bulk deals for Rs 954 crore. Dish TV
Dish TV issued a clarification on reports that minority shareholders in the company have alleged breach in corporate governance. The company said all the allegations in the letter are wrong, malicious, incorrect, and baseless and hence are denied.

KNR Constructions
KNR Constructions has bagged orders worth Rs 665 crore for the development of six lane access controlled greenfield highway in Andhra Pradesh

Auto stocks
Auto stocks will be in focus today as companies came out with sales data yesterday for the month of February

Welspun Corp
Welspun Corp has been awarded a contract for export of LSAW pipes and bends to the Middle East, which will be executed from its facilities in Anjar, India in FY24.

Axis Bank
Axis Bank has completed the acquisition of Citibank’s consumer business in 7 months post the receipt of CCI approval. The deal has been closed with Axis Bank paying a total purchase consideration of Rs 11,603 crore to Citibank India.

The government has approved buying three training ships from Larsen and Toubro for Rs 3,110 crore.

Bharat Forge
BF Infrastructure, a wholly owned subsidiary of Bharat Forge, has executed a share purchase agreement with PNC Infratech and Ferrovia Transrail Solutions for purchase of 51% shareholding in Ferrovia.

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