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Stocks in news: Tata Communications, MTAR Tech, Adani Green, Welspun, Max Healthcare, NIIT

Shares of Tata Communications, MTAR Tech, Adani Green, Welspun, Max Healthcare, NIIT, AU Small Finance Bank will be in focus in Tuesday's trading session.

The BSE Sensex and NSE Nifty are likely to open higher on Tuesday, tracking positive global cues and firm trading at Nifty futures on the Singapore Exchange. Among the individual stocks, shares of Tata Communications, MTAR Tech, Adani Green, Welspun, Max Healthcare, NIIT, AU Small Finance Bank, and others will be in focus in Tuesday's trading session.

Tata Communications: The central government has proposed to divest 10 percent shares in Tata Communications, along with an additional 6.12 percent as Green Shoe Option, according to Secretary, Department of Investment and Public Asset Management (DIPAM). The offer for sale (OFS) of the government equity in Tata Communications Ltd (TCL), which currently stands at 26.12 per cent, will open on March 16.

PSU banks: Shares of public sector banks will remain in focus as the United Forum of Bank Unions (UFBU) has given a call for a two-day nationwide strike to protest against privatisation of state-owned lenders.

Adani Green: Adani Renewable Energy has reportedly placed the lowest bid in an auction conducted by Solar Energy Corporation of India Ltd (SECI) for setting up and supplying 1.2-gigawatt (GW) wind power capacity.

Welspun India Ltd: Shares of Adani Group and Welspun will be in focus as Adani Welspun Exploration Ltd. (AWEL), a joint venture between the Adani Group and Welspun Enterprises Ltd., discovered natural gas reserves in an area off the Mumbai coast. The first-ever gas discovery was made in the NELP-VII block MB-OSN-2005/2, Adani Welspun Exploration Ltd (AWEL) said. Spread across 714.6 square kilometers, the block is located in the prolific gas-prone Tapti-Daman sector of the Mumbai Offshore basin where production is already underway by other operators.

NIIT: NIIT (USA) Inc., a wholly-owned subsidiary of NIIT, has inked a managed services agreement with a US-based financial services organization (an existing client) to provide a range of learning services. The term of the agreement is 5 years.

Kalyan Jewellers: The IPO of Kalyan Jewellers will open for public subscription on Tuesday and will close on Thursday. The price band of the issue is Rs 86-87 a share, while half of the issue has been reserved for qualified institutional buyers, 35 percent for retail investors, and 15 percent for non-institutional bidders. Ahead of IPO, the company has raised Rs 352 crore from anchor investors.

MTAR Technologies: Shares of MTAR Technologies will remain in focus after the stock made strong debut on bourses on Monday. The stock was listed at an 82.60 percent premium over its issue price at Rs 1,050.

AU Small Finance Bank: The bank said that its board has approved allotment of 50,00,000 equity shares of face value Rs 10 each to eligible qualified institutional buyers at the issue price of Rs 1,251 per equity share. The shares will allotted at a premium of Rs 1,241 per share worth Rs 625.50 crore.

Max Healthcare: The company has acquired 42.8 per cent equity stake in Saket City Hospitals Ltd (SCHL) from Kayak Investments Holding Pte. Ltd.

Allcargo Logistics: The company has said that its board has declared an interim dividend of Rs 2 per share of face value of Rs 2 each for FY21. The dividend will be paid to all equity shareholders of the company on or after March 24.

Swastika Investmart Ltd: Swastika Investmart to distribute interim dividend of Rs 2 per equity share or 20 per cent of a face value of Rs 10 per share for FY21. The record date of payment of dividend is 23 March.



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