Stocks to watch, March 11: Eternal, Swiggy, restaurant stocks, RIL, IndiGo, ONGC, IOCL, HPCL, pipe stocks, Waaree Energies, TVS Supply Chain

Co-Founder and Managing Director Rahul Bhatia will manage the affairs of IndiGo on an interim basis till a new person is appointed, which the airline said is expected shortly.

Reliance Industries (RIL): US President Donald Trump said America First Refining will build the first new US oil refinery in 50 years at the port of Brownsville, Texas, as part of a $300 billion investment.

Trump added that Reliance Industries of India will partner in the project, which he said will boost US energy production, create thousands of jobs, and support global exports.

“The U.S. Navy has not escorted a tanker or a vessel at this time,” White House Press Secretary Karoline Leavitt told reporters Tuesday.

U.S. crude oil fell 11.94% to close at $83.45 per barrel. Brent crude, the global benchmark, lost 11.28% to settle at $87.80. Prices fell more than 17% immediately after Wright’s post.

So, upstream companies, OMCs, paints, tyres, and aviation stocks will be in focus.

Hit hard by the shortage of commercial LPG cylinders, the hoteliers' body, FHRAI, on Tuesday said a large number of hotels and eateries in Mumbai will have to shut operations in the next two days if the situation is not resolved.

'Similar disruptions are also reported from Pune, Aurangabad, Nagpur, Delhi, Karnataka, Telangana, and Andhra Pradesh,' Pradeep Shetty, vice president of the Federation of Hotel and Restaurant Associations of India (FHRAI), said.

On Tuesday, the stock of food delivery player Swiggy fell by 2.26%, while Eternal lost 1.50% on the BSE.

Jubilant FoodWorks, which operates fast-food chains Domino's Pizza and Dunkin' Donuts, declined 1.45%.

Also, United Foodbrands slipped 1.42%, Sapphire Foods India edged lower by 0.94%, and Restaurant Brands Asia dipped 0.73%.

The project was launched by Prime Minister Narendra Modi in 2019 to provide safe and adequate drinking water through tap connections to all households in rural India.

The facility, spread across 40,000 sq ft, is located in the Free Trade and Warehousing Zone (FTWZ) in Mannur village, about 30 km from the city on the Chennai-Bengaluru Industrial Corridor.

With approximately 4,000 pallet positions, the modern facility will enable Caterpillar to optimise lead times, reduce landed costs, and respond swiftly to global demand and supply needs.

Following his departure, Girish Taurani, Executive Director, and Sushant Dalmia, Chief Financial Officer, will jointly take Nair’s responsibilities.

The company has initiated the process of identifying and appointing a suitable candidate as the new CEO.

Subscription Agreement (“SSA”) with United Solar Holdings Inc. (“USH”), for the subscription of approximately 53,68,551 series B preferred shares of USH for an aggregate consideration of approximately. USD $30,000,000 subject to conditions precedent to closing.