A slight upmove in SGX Nifty50 on Monday hinted at a positive start for Dalal Street. At 7:16 am, the futures contract was up 0.4 per cent at 16,720.5. Key benchmark equity markets snapped the seven-day losing streak on Friday after an intense meltdown in the equities. However, stock markets ended the weak on a strong note as investors lapped up stocks at discounted prices.
Here are the Stocks to Watch in Trade Today:
Mahindra & Mahindra
M&M is likely to invest at least Rs 3,000 crore for developing electric vehicles (EV) over the next three years, with the capital expenditure on EVs and internal combustion engine vehicles approximating each other, as per a report.
Indian Oil Corp
The PSU major is planning three new plants in the Northeast to increase its LPG bottling capacity by nearly 53 per cent to eight crore cylinders annually by 2030 to meet the growing demand in the region.
Hero MotoCorp
The country’s largest two-wheeler maker expects the two-wheeler segment to make a strong comeback next financial year with Omicron wave subsiding and a broader economic recovery in sight.
Hindalco Industries
The aluminum major has entered into a share purchase agreement with Brazilian firm Terrabel Empreedimentos, to divest entire equity shareholding in Hindalco Do Brazil Industria Comercia de Alumina, the wholly owned step down subsidiary.
Vodafone Idea
The telecom operator is re-aligning and streamlining its consumer digital resources to sharpen focus on driving operational scale and pace of delivery. VIL is proposing to bring all digital resources from different functions under a more ‘holistic and integrated’ consumer digital product curation and delivery organization.
Indus Towers
Vodafone Idea will sell its 4.7 per cent stake in the telecom infrastructure provider to Bharti Airtel and the proceeds will be used for investment in Vodafone Idea and clearing its dues towards the mobile tower company.
Vedanta
The metal miner’s aluminum business, which has not been impacted majorly by COVID-19, would focus on backward integration in the next fiscal and would bring into production two of its mines in Odisha to provide raw material security for its plants.
Pharma Stocks
The leading homegrown drug makers Aurobindo Pharma and Sun Pharmaceutical Industries are recalling different products in the US market due to deviation from standard manufacturing norms.
Fortis Healthcare
The rating agency CRISIL has upgraded long term rating to ‘AA-, from ‘A+’ for the private hospitals chain, and placed rating on watch with developing implications. Further, the short-term rating has been upgraded to A1+.
Religare Enterprises
The subsidiary of Religare Enterprises, Religare Finvest, has defaulted on interest payment to the bond holders due on February 25 due to asset liability mismatch arising out of siphoning and misappropriation of funds by erstwhile promoters of its parent company.
IIFL Securities
The NBFC player paid a settlement amount of over Rs 2 crore to markets regulator Sebi in order to settle a case. The company was alleged to have violated stock brokers regulation as well as Prohibition of Fraudulent and Unfair Trade Practices regulation.
SJVN
The state-run power player said that it has won a 15 MW grid-connected floating solar PV power project in Bilaspur district of Himachal Pradesh. SJVN has bagged the full quoted capacity of 15 MW on ‘build own and operate’ basis through e-Reverse Auction held by Solar Energy Corporation of India.
Hinduja Global Solutions
The subsidiary of BPO/KPO player, HGS International Mauritius, has completed the acquisition of Australian company Diversify. In January, its arm entered into a definitive agreement to acquire a 100 per cent equity stake in Diversify Offshore Staffing Solutions, Australia.
Read all the Latest Business News and Breaking News here
Comments
0 comment