From Axis Bank to Tata Motors: Here are key stocks to watch on March 31

The Indian stock markets rose by 1.2 per cent on Wednesday as hopes rose for a negotiated end to the Russia-Ukraine conflict. The Sensex gained 740 points to 58,683.99 and the Nifty50 shot up 173 points to 17,498.25.

Here are the key stocks to watch on Thursday, March 31, 2022:

Axis Bank
Private sector lender Axis Bank will acquire Citi’s consumer businesses for Rs 12,325 crore. The transaction comprises the sale of the consumer businesses of Citibank India, which includes credit cards, deposits and loans businesses in retail banking, wealth management and consumer loans.

The deal also includes the sale of Citicorp Finance (India) Ltd, comprising the asset-backed financing business, which includes commercial vehicle and construction equipment loans as well as the personal loans portfolio.

Ceat and Apollo Tyres

India’s antitrust body on Wednesday raided the offices of tyre companies including Ceat, Apollo Tyres and Germany’s Continental AG in an alleged case of competition law violations.

Telecom stocks

The telecom subscriber base in the country declined marginally to 116.94 crore in January this year, mainly due to the loss of a whopping 93.22 lakh mobile phone users by the largest telecom service provider Reliance Jio, the latest data released by TRAI said on Wednesday.

The country had 117.84 crore telecom subscribers in December 2021.

Bharti Airtel was the only net gainer with the addition of 7.14 lakh users of its mobile services. Reliance Jio was the biggest loser in the mobile services segment in January as it lost 93.22 lakh customers, said the monthly subscriber report of the Telecom Regulatory Authority of India (TRAI).

The number of wireless subscribers decreased by 0.81 per cent to 114.52 crore at the end of January from 115.46 crore at the end of December. Vodafone Idea lost 3.89 lakh wireless subscribers, BSNL 3.77 lakh and MTNL 431.

Tejas Networks

Tata Group firm Tejas Networks will acquire 64.40 per cent stake in semiconductor firm Saankhya Labs for Rs 283.94 crore in an all-cash deal. The initial acquisition of Saankhya shares is expected to close within the next 90 days, Tejas said in an exchange filing.

“Tejas Networks, upon procuring all necessary consents and approvals, also intends to proceed with acquiring the balance 35.60 per cent shares through a merger process or a secondary acquisition,” the statement said.

Tata Motors

Tata Motors on Wednesday said TPG Rise Climate has subscribed to 3.75 crore compulsorily convertible preference shares worth Rs 3,750 crore as the first tranche of the proposed investment of Rs 7,500 crore in its passenger electric vehicle business.

Last year in October, Tata Motors had announced that it would raise $1 billion (Rs 7,500 crore) for its passenger electric vehicle business from TPG Rise Climate at a valuation of up to $9.1 billion.

Tata Motors and TPG Rise Climate, the dedicated climate investing strategy of the private investment firm TPG, had entered into a binding agreement under which TPG Rise Climate along with its co-investor ADQ would invest in a newly incorporated subsidiary of the automaker.

With Thanks Refrence to: https://indianexpress.com/article/business/market/stocks-to-watch-march-31-axis-bank-bharti-airtel-vodafone-idea-reliance-jio-ceat-apollo-tyres-tata-motors-7845413/