Wednesday, June 12, 2024
Home News Stocks to Watch: Tata Motors, IOC, Hind Zinc, Sonata Software, Bandhan Bank

Stocks to Watch: Tata Motors, IOC, Hind Zinc, Sonata Software, Bandhan Bank

Equity benchmark indices are looking to start on a muted note. The Nifty index could open 20-30 points higher as indicated by SGX Nifty, which was at 17,170 levels. Investors around the world await the monetary policy results of the US Fed later today.

Stocks to Watch:

Overnight in the US, indices extended Monday’s rally, with the S&P 500 gaining 1.3 per cent, the Dow Jones rising 0.98 per cent and the Nasdaq 1.58 per cent.

 

Asia-Pacific markets also moved higher this morning. Major indices Nikkei 225, Topix, Hang Seng jumped 2 per cent each.

 

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

 

Tata MotorsTata Motors (TML) will increase the prices of its commercial vehicles (CV) range by 5 per cent from April 1, ahead of the transition to the new emission norms of BS VI Stage II.

 

Tata Power: Its subsidiary Tata Power Renewable Energy has received the Letter of Award for setting up a 200 MW Solar PV project for the Maharashtra State Electricity Distribution Company at Solapur, Maharashtra.

 

Sonata Software: The company bagged a $160 million (roughly Rs. 1,322.8 crore) project from a US-based consumer retail company to manage end-to-end IT modernization and transformation for the client.

Hindustan Zinc: The company will cumulatively pay Rs 10,990 crore ($1.3 billion) to its shareholders as its fourth dividend this year. Minor will pay an interim dividend of Rs 26 per share, which is 1,300 per cent on the face value of Rs 2 per share.

Indian Oil CorporationThe company has received approval to set up a petrochemical complex at Paradip in Odisha at an estimated project cost of Rs 61,077 crore. The project will improve the company’s petrochemical intensity index and de-risk its fossil fuel business.

 

bandhan bank: The bank received binding bids of Rs 369.20 crore for a write-off portfolio of Rs 2,614.03 crore. 370.62 crore for NPAs arising out of banking units amounting to Rs 2,316.32 crore on the basis of security receipt consideration for transfer of loan to Asset Reconstruction Company.

 

Power Finance Corporation: The company’s board approved raising debt of Rs 80,000 crore through long-term borrowings, short-term borrowings and commercial papers during the next financial year.

 

Power Grid Corporation: The bond committee of directors of the company will meet on March 24 to consider issuing bonds under private placement.

 

Greenlam Industries: As per reports, Asiana Fund I bought 2.63 per cent stake at Rs 306 per share, Smiti Holding & Trading Company sold 2.63 per cent equity at Rs 306 per share.

 

Devyani International: Franklin Templeton Mutual Fund bought 0.51 per cent stake at Rs 145 per share, Dunern Investments Mauritius sold 2.86 per cent equity at Rs 145.04 per share.

 

Hg Infra Engineering: The company was declared the lowest bidder for the redevelopment of Kanpur Central Railway Station by North Central Railway for Rs 677.31 crore.

lupineThe company received approval from the US FDA for its Brexpiprazole tablets, which will be manufactured at its Pithampur plant in India.

 

Mastec: Ashank Desai will step down from his role as the Vice Chairman and Managing Director of the Chairman and Managing Director with effect from April 1, 2023.

 

Promotion Motherson International: The company acquired the remaining 50 percent stake in Fritzmeier Motherson Cabin Engineering from F Holdings GmbH, Austria.

 

Emami: The board meeting will be held on March 24 to consider the proposal for the share buyback scheme.

 

Asian Energy Services: The company has received letter of acceptance for an order valued at $20 million.

Ashiana Housing: The company has crossed the annual booking value guidance of Rs 1,100 crore for the year 2022-23. The total booking value till March 20, 2023 is Rs 1,278.84 crore.

Zydus Lifesciences: Company received Final approval from US FDA for Tofacitinib Tablets, 5 mg and Tentative approval for Tofacitinib Tablets, 10 mg.

 

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