Here is a look at the key stocks that are in the news this morning and are likely to be on investor radar through the day.
Bharti Airtel: The promoters of Bharti AirtelBSE -0.41 %, the Mittal family and SingTel, are looking to acquire an additional six per cent stake in the country’s largest telecom firm. The move may lend some support to the company’s share price, which has declined 11 per cent over six months.
Aurobindo Pharma, Bharti Infratel, Eicher Motors: These stocks are going to enter the Nifty50 index along with the differential voting right (DVR) shares of Tata MotorsBSE 0.30 % from April 1. Tata Motors is already a constituent of the Nifty50 index with its regular equity shares. Tata Motors’ DVR shares got listed in November 2008.
Tata Steel: India’s oldest steelmaker Tata SteelBSE 2.08 % said it was looking to restructure its domestic business to reduce costs and increase productivity as poor demand and heightened competition from imports have shrunk profits, according to several people familiar with the matter.
UltraTech Cement: India’s largest cement maker UltraTech is in the race to acquire the cement division of Jaiprakash Associates along with two other players, Dalmia Bharat Cement and US buyout firm KKR.
Cairn India, PNB, Vedanta: These are the three stocks going out of the Nifty50 with effect from April 1and straight into the next largecap index of Nifty Next 50. They will be replaced by three new companies from the Nifty Next 50.