Stocks to watch: TCS, Patanjali Foods, Glenmark Pharma, Vi, DLF, Eris Life
Stocks to watch today: Improved global sentiments are likely to instill strength in domestic markets on Friday. As of 7:05 am, the SGX Nifty suggested a gap-up start as it quoted around 17,144 levels, up over 100 points.
Globally, a relief rally cheered US markets overnight, after a consortium of banks said it would aid First of Republic with $30 billion deposits. Key indices Dow Jones, NASDAQ Composite, and the S&P 500 advanced up to 2 per cent.
Asia-Pacific markets, too, inched higher this morning, with Nikkei 225, Topix, Kospi, Kosdaq, the S&P 200 indices rising up to 0.9 per cent.
Meanwhile, back home, here are few stocks likely to see action in Friday’s trade:
TCS: Managing Director and Chief Executive Officer Rajesh Gopinathan resigned from his post to pursue other interests. With over 22 years of company experience, the board approved his request to be relieved of his positions. K Krithivasan CEO-designate will replace him with immediate effect. READ MORE
Glenmark Pharma: The pharma major received US health regiulator’s approval to proceed with phase 1/2, first-in-human trial for investigational new drug aimed for treatment of patients with advanced cancers. READ MORE
Patanjali Foods: After stock exchanges froze shares of its promoters, the company said that the move would not impact the company’s operation, and they plan to start the process of launching follow-on-public offering in April to increase public shareholding to 25 per cent. READ MORE
Vodafone Idea: CARE Ratings revised outlook on Vodafone Idea (Vi) bank facilities to “positive” from “stable”. It also reaffirmed “B+” rating for debentures and long-term loans. The outlook upgrade was done on hopes of equity infusion and raising of long-term debt from the banks. READ MORE
Eris Lifesciences: Dr Reddy’s signed deal with the company to divest certain non-core brands of the company in the dermatology segment for Rs 275 crore. The divested portfolio saw sales of Rs 60 crore, as of IQVIA moving annual turnover (MAT) data December 2022.
DLF: The realty major witnessed record-breaking pre-formal launch sales of more than Rs 8,000 crore for its luxury high-rise, The Arbour’ project, in just 3 days. The company will focus on luxury, and ultra-luxury housing, on the back of high demand for high-end homes.
Voltas: The company’s subsidiary Universal MEP Projects & Engineering Services bagged multiple SITC project orders worth Rs 1,770 crore in the Electrical Power Distribution business for FY22-23, including a solar power project.
Adani Transmission: The company incorporated wholly-owned subsidiary in the name of ‘Adani Electricity Aurangabad.’ It was incorporated to apply parallel distribution license in Aurangabad. The company is yet to commence business operations.
Zensar Technologies: The company launched Zensar Learning Academy in Pune, India. The academy aims to provide upskilling, and specially curated modules to bring combination of product engineering, coding, design thinking, and client-centric problem-solving tools.
Tiger Logistics: The company bagged government tender of Bank Note Paper Mill, which will help enhance business of the company. Going ahead, the company aims to strengthen its position to handle logistics for government to handle sizeable business.
Stocks in F&O ban: GNFC, Indiabulls Housing Finance were banned in the F&O ban period on Friday, March 17.