The index has the potential to extend the rebound towards the 23,800–24,000 zone, while the 23,200–23,000 range is likely to remain a strong support area.
In today’s trade, shares of Maruti Suzuki, Tata Steel, Varun Beverages, PNB, TCS among others will be in focus due to various news developments.
Urban Company
DF International Partners II LLC, an early investor in Urban Company, sold its entire stake in the tech-enabled home services platform via a block deal on Tuesday. Another pre-offer shareholder, ABG Capital, also pared its holding through a separate block transaction. Meanwhile, SBI Mutual Fund acquired the entire stake sold by the two investors in deals worth a combined Rs 385.16 crore.
Strides Pharma
Strides Pharma International AG, a step‑down subsidiary of Bengaluru-based Strides Pharma Science, has entered into definitive agreements with Sandoz AG, Switzerland and its group entities for acquisition and in‑licensing of a portfolio of branded generic products across sub‑Saharan Africa.
Varun Beverages
Varun Beverages said its South African subsidiary Bevco will acquire Crickley Dairy Proprietary for Rs 131.47 crore. The Beverage Company Proprietary has executed an agreement dated March 17 for the acquisition of 100% equity stake of Crickley Dairy Proprietary, which is incorporated in South Africa.
Tata Steel
Tata Steel board on Tuesday approved NINL’s merger with itself and an investment of $2 billion in its wholly-owned subsidiary T Steel Holdings Pte. The board also cleared the acquisition of a stake in Medica TS Hospital (Medica TS Hospital) from Manipal Hospitals Eastern India for Rs 1.49 crore.
TCS
Tata Consultancy Services(TCS) has expanded its office footprint in Chennai to approximately 7.79 lakh sq ft with a fresh lease of 1.47 lakh sq ft at Ozone Techno Park, reinforcing the city’s position as a key hub in the company’s India delivery network.
PNB
State-owned Punjab National Bank invited bids to sell Rolta Pvt Ltd’s non-performing assets (NPA) worth Rs 450.85 crore. The NPAs consist of a land parcel and building in Gurugram, Haryana, measuring about 7,800 sq m. The reserve price for the asset has been fixed at Rs 250 crore, with a bid increment amount of Rs 2.5 crore, as per a notice issued in newspapers.
Maruti Suzuki
Maruti Suzuki India received a Draft Assessment Order from the Income Tax Authority worth Rs 5,786 crore. The automaker will file its objections before the Dispute Resolution Panel, it said in a regulatory filing. Maruti Suzuki stated that the income tax notice has no impact on financial, operational or other activities of the company.