Friday, February 23, 2024
Home News Stocks to Watch: Reliance, HAL, Hero MotoCorp, Nazara Tech, L&T, Power Grid

Stocks to Watch: Reliance, HAL, Hero MotoCorp, Nazara Tech, L&T, Power Grid

Equity benchmark indices are likely to open marginally lower on Thursday tracking losses in global markets after the US Fed hiked by 25 bps overnight. As indicated by SGX Nifty which was at 17,110 level, the Nifty index could open down around 50 points.

Stocks to Watch

US markets erased gains shortly after the Fed hike announcement as Treasury Secretary Janet Yellen said regulators are not looking to provide any “full” deposit insurance or guarantees to stabilize the US banking system.

 

The Dow Jones, S&P 500 and Nasdaq Composite lost 1.6 percent each.

 

Asia-Pacific markets also moved higher this morning. Major indices Nikkei 225, Hang Seng, S&P 200, Kospi and Straits Times fell 0.2-0.8 per cent.

 

Meanwhile, here are some stocks to watch in today’s trading:

 

Hindustan Aeronautics: The government plans to sell up to 3.5 per cent of its stake in aerospace and defense major Hindustan Aeronautics (HAL) through offer for sale (OFS) to raise over Rs 2,867 crore in the current fiscal, according to an exchange filing on Wednesday. It holds 75 per cent stake in HAL.

Reliance Industries: After creating a splash with the relaunch of iconic beverage brand Campa, Reliance Consumer Products (RCPL) – the fast-moving consumer goods (FMCG) arm and a wholly owned subsidiary of Reliance Retail Ventures – expanding its packaged consumer goods portfolio ready to do. In neighborhood mom-and-pop stores (kiranas) with the launch of home and personal care products.

 

Hero MotoCorpHero MotoCorp on Wednesday said it will increase prices of its model range by about 2 per cent from next month to offset the impact of increase in production cost in line with stricter emission norms.

 

Nazara TechnologiesSportskeeda’s parent company Absolute Sports on Wednesday said it has acquired 73.27 per cent stake in Pro Football Network LLC (PFN) for $1.82 million (around Rs 16 crore). Sportskeeda is a subsidiary of Indian gaming firm Nazara Technologies. Reading

larsen and toubro: The company signed an agreement with France-based McAfee Energy for a long-term partnership, where the latter will provide an exclusive manufacturing license of its Pressurized Alkaline Electrolyzer technology, including future product upgrades.

 

PNC Infratech: Company’s subsidiary Sonauli Gorakhpur Highway has got the due date of March 6, 2023, for four-laning of Sonauli-Gorakhpur section of NH-29 National Highway in Uttar Pradesh.

Power Grid Corporation: The company acquired six special purpose vehicles from REC Power Development & Consultancy for a cumulative consideration of Rs 80.23 crore. The SPV has been formed mostly for construction of transmission projects in Khavda region of Gujarat.

 

Coromandel International: The Board approved the company’s entry into the contract development and manufacturing organization business and specialty and industrial chemicals. The board also approved expansion of the crop protection chemicals business of the company.

 

Hg Infra EngineeringThe company has been selected as the lowest bidder by the National Highways Authority of India for the construction of the six-lane greenfield Varanasi-Ranchi-Kolkata highway from Lepo village in Jharkhand to Kamlapur village on the Jharkhand-West Bengal border. The estimated project cost is Rs 764.01 crore.

IGL: The company and Bharat Heavy Electricals (BHEL) have signed an MoU for development, manufacturing and deployment of Type-IV cylinders, hydrogen blending in city gas distribution (CGD) and fuel cell based power backup systems.

GR Infraprojects: The company emerged as the lowest bidder for six laning of the Surat-Nashik-Ahmednagar-Solapur greenfield stretch from Hasapur to Badadal at a cost of Rs 872.17 crore. It has also been selected for the construction of civil works in the Rs 3,637.12 crore Dibang Multipurpose Project in Arunachal Pradesh.

 

Chalet Hotel: The company will acquire 100% stake in Sonmil Industries and 82.28% stake in The Dukes Retreat for 74.65 crores. Sonmil owns land in Khandala where The Dukes Retreat runs a property.

Indiabulls Housing Finance: The company will delist 5.68 lakh Global Depository Receipts, representing 0.12% of its paid-up capital, from the Luxembourg Stock Exchange due to low trading volumes.

 

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