Stocks to watch: Ircon Int'l, Ion Exchange, YES Bank, Ruchi Soya, BoB, RIL

Nifty futures on the Singapore Exchange traded 52 points higher at 15,035, around 8.30 am, indicating a positive start for benchmark indices on Wednesday.

Here are the top stocks that are likely to be in focus today:

Ion Exchange: Rakesh Radheyshyam Jhunjhunwala and his firm Rare Investments on Tuesday offloaded shares worth nearly Rs 65 crore in Ion Exchange India Ltd, through open market transactions.

RIL, Airtel, Voda Idea: India's first auction of telecom spectrum in five years ended on Tuesday with Rs 77,814.80 crore of airwaves being acquired, mostly by billionaire Mukesh Ambani's Reliance Jio which picked up 488.35 MHz of spectrum for Rs 57,122.65 crore. Bharti Airtel acquired 355.45 MHz at Rs 18,698.75 crore, and Vodafone Idea with 11.80 MHz for Rs 1,993.40 crore.

Ircon International: The offer for sale for up to 16 per cent government stake at a floor price of Rs 88 per share in railway PSU Ircon will open on Wednesday.The base issue size of the OFS is 10 per cent with a green-shoe option to retain over-subscription of 6 per cent.

BPCL: State-run Bharat Petroleum Corp. Ltd will pay dividend to its shareholders after the stake sale in Assam-based Numaligarh Refinery Ltd is completed, BPCL, said on Tuesday.

JP Power, Power Grid: Jaiprakash Power Ventures's board has approved disinvestment of 74 per cent stake in Jaypee Powergrid to Power Grid Corporation of India. 

Bank of Baroda: The company, on Tuesday, said it has closed the qualified institutional placement (QIP) round, which was conducted to raise up to Rs 4,500 crore.  

YES Bank: The company's shareholders have approved a proposal for raising Rs 10,000 crore capital. 

Indian Bank: State-owned Indian Bank on Tuesday held an extra-ordinary general meeting (EGM) to seek shareholders nod for raising equity capital up to Rs 4,000 crore through various means.

Punjab & Sind Bank: The PSU lender will convene an extraordinary general meeting on March 25 to seek shareholders' approval for Rs 5,000 crore equity infusion by the government in exchange for shares.

Ruchi Soya Industries: The company's promoter Patanjali Ayurved has created a pledge on 48.17 per cent stake.

Engineers India: Indian Oil Corporation (IOC) has awarded a project worth Rs 600 crore for execution of consultancy for overall project management and EPCM Services (Phase II) for capacity expansion of Panipat refinery from 15 MMTPA to 25 MMTPA (P-25 Project) to Engineers India. 

Motherson Sumi Systems: CRISIL reaffirmed long term credit rating as AA+ and revised outlook from Negative to Stable.

IOC, HPCL, GAIL: The government expecrs IOC, HPCL and GAIL to raise Rs 17,000 crore by selling stakes in respective pipelines in the next fiscal, as per a media report. 

Kirloskar Ferrous Industries: The Board has declared an interim dividend of Rs 2 per equity share of Rs 5 each for the financial year 2020-2021. The record date for the payment of said dividend has been fixed as March 13.

Mahindra Lifespace Developers: The company has launched its residential project 'Aclove', at Chandivali in Mumbai.


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