Stocks to Watch: Tata Consumer, NTPC, RVNL, GMR Airports, Havells, SKF
Equity benchmark indices are looking to start the new week with a downtrend amid the ongoing banking crisis in the US and Europe. As indicated by the SGX Nifty, which was quoting at 17,084 levels, the Nifty index may open around 80 points lower.
Globally, the US equity futures edged higher this morning after the UBS Group took over troubled lender Credit Suisse for $3 billion to calm financial markets. Dow Jones Futures, the S&P 500 Futures, and NASDAQ Futures climbed up to 0.6 per cent.
Asia-Pacific markets, however, fell today, with Nikkei 225, the S&P 200, Kospi, Topix, Hang Seng indices lowering up to 0.8 per cent.
Meanwhile, here are some stocks to watch out in trade today:
Tata Consumer Products: The company ceased negotiations with Bisleri for a potential acquisition. It said no definitive agreement or binding commitment has been signed on this matter.
NTPC: The Cabinet Committee on Economic Affairs has allowed NTPC to invest beyond the prescribed (up to 30 per cent of its net worth) limit in NTPC Green Energy.
HDFC: The RBI imposed a monetary penalty of Rs 5 lakh on the company on account of certain regulatory violations. The company said it will take necessary steps to comply with the order.
Rail Vikas Nigam: The company was selected as the lowest bidder for a composite package of four contracts related to the new broad gauge railway line of Haryana Orbital Rail Corporation project, jointly worth Rs 1,088.49 crore.
GMR Airports: Aéroports de Paris and GMR Airports Infrastructure Ltd agreed to fold their joint-venture company into GMR, giving ADP a liquid stake in a business that owns airfields in India. READ
The company will also raise Rs 2,900 crore via foreign currency convertible bonds.
Navin Fluorine International: Navin Fluorine Advanced Sciences, a wholly owned subsidiary of the company, will set up a new 40,000 tonnes per annum hydrofluoric acid capacity at Dahej at a cost of Rs 450 crore.
Havells India: The company started commercial production of air conditioners at its facility in Sri City, located in Chittor district of Andhra Pradesh.
Garware Technical Fibres: The company entered an agreement with TP Bhaskar Renewables to acquire and/or subscribe to 26 per cent of the latter for Rs 4.5 crore.
Adani Transmission: The company incorporated a wholly owned subsidiary, Adani Electricity Nashik, to apply for parallel distribution licence in Nashik area.
SKF India: The company acquired 26 per cent stake in Cleanmax Taiyo by acquiring 2,600 shares of face value Rs 10 each. The acquisition is meant to reduce energy costs and greenhouse gas emissions, and source renewable energy.
Torrent Pharmaceuticals: The US FDA issued one observation with Form 483 after the pre-approval inspection of the company’s oral-oncology manufacturing facility at Bileshwarpura, Gujarat from March 13 to March 17.
Deep Industries: The board has approved stock split of every 1 shares into 2 equity shares.
SJVN: The company has won an order for a 200 MW solar project from Maharashtra State Electricity Distribution Company. The project cost is Rs 1,000 crore.
Sumitomo Chemicals: The Gujarat Pollution Control Board has revoked closure order for production at the company’s Bhavnagar site. Hence, the plant is now allowed to resume operations.
Godavari Power and Ispat: The board approved Rs 250 crore share buyback via tender offer route. This will be a buy back of 50 lakh shares (3.66 per cent equity) at Rs 500/share.
Cochin Shipyard: The Company won a Rs 550 crore order for zero emission feeder container vessels from Samskip Group.
Morepen Lab: The company has incorporated a wholly owned subsidiary in the name of “Morepen Rx Ltd”.
Kenvi Jewels: The board has approved for stock split of company’s 1 equity share of face value of Rs. 10 each into 10 equity shares of face value of Rs 1 each, along with the issuance of bonus issue of equity shares in proportion of 1 equity share for every 4 equity shares.
Jindal Poly Films: The company has successfully commissioned the capacity expansion project at its global non-woven division at Nashik Plant from existing 36,000 MT to 58,000 MT.