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Stocks To Watch: Paytm, Wipro, OMCs And Others In News

The NSE Nifty gained 148.95 points or 0.68 per cent to close at 22,146.65. Barring private banks and financials, all sectors ended in the green. Oil & gas, Metals, Pharma, and Consumer Durables gained 1-2 per cent

Benchmark equity indices Sensex and Nifty rebounded on Thursday after buying in IT and capital goods stocks boosted broader markets to recover from the previous day’s sharp losses. The BSE Sensex climbed 335.39 points or 0.46 per cent to settle at 73,097.28. The NSE Nifty gained 148.95 points or 0.68 per cent to close at 22,146.65. Barring private banks and financials, all sectors ended in the green. Oil & gas, Metals, Pharma, and Consumer Durables gained 1-2 per cent.

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India’s WPI inflation eased to a four-month low of 0.2 per cent in February which added to the market momentum. Further, rating agency Fitch estimates India’s GDP to grow at 7.8 per cent in FY24E, boosting the sentiments.

“Markets, especially midcap and smallcap will take direction from tomorrow’s important event i.e. outcome of the MF stress test. Also, investors would track the key data points (Core Retail Sales and PPI data) from the US. We expect broader market volatility to continue in the near term, thus, retail investors should take this correction as an opportunity to accumulate quality names in 3-4 tranches. We suggest making a higher allocation towards large caps as valuations are comfortable along with steady growth prospects,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Here Are The Key Stocks To Watch On 15 March:

Paytm

The National Payments Corporation of India (NPCI) on Thursday gave the nod to Paytm’s parent company One 97 Communications to become a third-party UPI app under the multi-bank model. Axis Bank, HDFC Bank, State Bank of India, and Yes Bank will act as the Payment System Provider.

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Wipro

The IT services company has been selected by Desjardins to transform its credit solutions for members and clients. Wipro’s flagship NetOxygen solution will integrate and manage Desjardins’ multiple in-house and legacy systems to bring all their loan origination systems into one platform, resulting in improved customer experience, efficiency gains, and cost savings, according to a stock exchange filing.

Oil Marketing Companies

The government has reduced prices of petrol and diesel by Rs 2 per litre with effective from 15 March. According to a tweet by the Ministry of Petroleum and Natural Gas, Oil Marketing Companies (OMCs) have announced revisions in the prices of petrol and diesel nationwide.

IRB Infrastructure

Cintra, a subsidiary of Spanish construction giant Ferrovial, has agreed to acquire a 24 per cent stake in IRB Infrastructure Trust, from GIC Affiliates, the company said. Ferrovial confirmed the development in a statement, adding that it will be acquiring the stake for $810 million (about Rs 6,720 crore).

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Bharat Electronics

The company has signed a contract worth Rs 847.70 crore plus taxes with Larsen & Toubro for the supply of 14 cutting-edge Communication and Electronic Warfare sensors and systems. These state-of-the-art systems, manufactured domestically by BEL, will be installed on three Cadet Training Ships for the Indian Navy.

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