Stocks to Monitor: TCS, Vodafone Idea, Yes Bank, UltraTech Cement, SKF India, SpiceJet

Equity benchmark indices Sensex and Nifty are expected to open Tuesday's trading session with small gains as investors keep an eye on the U.S. Fed's rate outcome. At 8:15 am, the Gift Nifty futures were up 48 points at 21,934, compared to the Nifty futures’ last close.

TCS: TCS has announced that the Central Bank based in the US has selected TCS BaNCS to upgrade its primary technology infrastructure. According to a stock exchange disclosure, the strategic alliance between the Central Bank and TCS aims to establish customer onboarding procedures that are seamless and adaptable, which will support the bank's ongoing expansion.

Vodafone Idea: According to an exchange filing made on Tuesday, a company will allocate equity shares worth Rs 1,440 crore to ATC Telecom Infrastructure from optionally convertible debentures (OCDs). As a result of the conversion, ATC will hold 2.9 percent of the revised shareholding. In line with the terms of the OCDs, ATC has asked VIL to convert 14,400 OCDs, amounting to Rs 1,440 crore, into 1.44 billion fully paid-up equity shares with a face value of Rs 10 each on March 18, 2024.

Yes Bank: On Tuesday, the bank informed the exchanges that it had transferred its exposure in Katerra India Private Limited to Prudent ARC Limited, an asset reconstruction company. The bank has received a cash consideration of Rs 203.40 crore in relation to the same. Yes Bank had invited an Expression of Interest for the sale of identified stressed loan exposures through auction under the Swiss Challenge Method on January 20, 2024.

UltraTech Cement: The fair trade regulator, CCI, has approved UltraTech Cement's proposed acquisition of Kesoram Cement Business from Kesoram Industries. As per the comprehensive arrangement scheme dated November 30, 2023, UltraTech Cement Ltd will acquire the grey cement division of Kesoram Industries Limited. This merger has been given the green light by the CCI on Tuesday.

SKF India: The company informed the exchanges that it has appointed Mukund Vasudevan as a Managing Director of the company with effect from 8th April 2024 for a period of five years, subject to the approval of shareholders of the company.

SpiceJet: According to Reuters, one of the two potential buyers of the bankrupt Indian airline, Go First, has increased its bid following a prompt from lenders. The bidding consortium, which includes Ajay Singh, the managing director of SpiceJet, and Busy Bee Airways, has raised the amount of its initial bid of Rs 16 billion by up to Rs 1.5 billion. Two banking sources and an individual familiar with the matter were the ones to report the increase in the bid. They preferred to remain anonymous as they were not authorized to disclose this information to the press. There has been no comment yet from Go First's resolution professional, Singh, SpiceJet, or Nishant Pitti - the majority shareholder of Busy Bee.

Shakti Pumps: On Tuesday, the water pump company began a qualified institutional placement (QIP) to raise up to Rs 200 crore. The minimum price per share has been set at Rs 1272.09. The final issue price will be determined by the company in conjunction with the book-running lead managers assigned to the QIP issue.

Bharat Heavy Electricals: On Tuesday, the state-owned engineering company announced that it has secured a contract to establish the Singrauli Supercritical Thermal Power Plant (STPP) Stage-III for NTPC. The new plant, with a capacity of 1,600 MW, will be constructed next to the existing 2,000 MW thermal power station in Singrauli, located in the Sonbhadra district of Uttar Pradesh. BHEL, which had previously set up the Singrauli TPS, NTPC's first power plant in the state, back in 1982, will be responsible for the establishment of the new plant. BHEL also noted that the machinery previously installed at Singrauli has been delivering exceptional performance since its commissioning.

Persistent Systems: Persistent Systems, a mid-level IT services firm, announced on Tuesday that it has acquired Persistent Systems UK from the Aepona Group in Ireland for £7.43 million in a share purchase agreement (SPA). Persistent Systems UK is a company that works in the telecommunications API gateway sector, which involves defining, exposing, controlling, and monetizing telecom services for partners and application developers.

LIC: On March 19, SEBI, which is the market regulator, confirmed that an employee of the Life Insurance Corporation of India (LIC) was involved in front-running the trades of a significant client. In its confirmatory order, the Securities and Exchange Board of India stated that the order was issued based on early findings to stop further fraudulent trading activities and to prevent the misappropriation of wrongful gains amounting to Rs 2.44 crores. The five entities involved in the case are Yogesh Garg, an employee in LIC's investment department, his mother Sarita Garg, his mother-in-law Kamlesh Agarwal, Ved Prakash HUF, and Sarita Garg HUF. The regulator issued the interim order to the noticees on April 27, 2023, and has confiscated the illegal gains exceeding Rs 2.44 crore, and barred the noticees from accessing the securities market until further notice.