Stocks to watch: ONGC, Ruchi Soya, Hero MotoCorp, Indigo

ONGCThe government will this week mobilize to sell its 1.5 per cent stake in the country’s top oil and gas producer ONGC. 3,000 crores. The Offer for Sale (OFS) by the government will remain open on March 30 and 31, Oil and Natural Gas Corporation (ONGC) said in a stock exchange filing on Tuesday.

Tata Consumer ProductsTata Consumer Products Ltd (TCPL) on Tuesday announced the merger of all businesses of Tata Coffee Ltd, as part of a restructuring plan in line with its strategic priority to unlock synergies and potential.

Ruchi SoyaBaba Ramdev-led Patanjali Group’s Ruchi Soya Industries on Tuesday said it has rescheduled its board meeting to March 31 to decide its issue price. 4,300 crore FPOs (Follow-on Public Offers) in view of the market regulator SEBI’s direction to allow investors to withdraw their bids by Wednesday.

Hero MotocorpHero MotoCorp on Tuesday said that it will increase the prices of its motorcycles and scooters by up to Rs. 2,000 from April 5. Hero MotoCorp shares fell over 7 per cent on Tuesday following reports that the IT department has received some false spending claims by the company.

Future EnterprisesFuture Enterprises Limited (FEL) on Tuesday said it has defaulted on payment of 19.16 crore to Punjab National Bank, Canara Bank and Union Bank of India under the one-time restructuring scheme. This is the second default by FEL this month.

IDBI BankPrivate sector lender IDBI Bank on Tuesday said its board of directors has approved a bond lending limit of Rs. 8,000 crore for the next financial year starting April 1.

PNBPunjab National Bank (PNB) on Tuesday said its board has approved the proposal to raise 12,000 crore through issuance of bonds to fund business growth.

IndigoIndiGo airline’s parent company InterGlobe Aviation on Tuesday appointed Gaurav Negi as the Chief Financial Officer (CFO) in place of Jiten Chopra, who has tendered his resignation, a statement said.

State Bank Of IndiaThe bank said on Tuesday that SBI will buy out the entire stake of over 13 per cent in SBI Global Factors Limited (SBIGFL) of three other banking partners. The other three banking partners are SIDBI, Bank of Maharashtra and Union Bank of India.

Dwarikesh Sugar IndustriesDwarikesh Sugar Industries, the Indian maker of sugar co-production of power and industrial alcohol, on Tuesday announced an interim dividend. 2 per share (200%) for the financial year 2021-22. Also, the company has declared full and final dividend of 1. 25 per share (125%) for the previous financial year.