GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Friday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lower as the index was down 20 points or 0.09% at 22,172.00 indicating a negative start for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 gained nearly 31.65 points or 0.14% to settle at 21,982.80, while the BSE Sensex closed 195.42 points or 0.27% higher at 72,500.30.
Stocks to Watch on March 01, 2024
Vedanta
Stocks To Watch: Zomato, Paytm, RVNL, Zen Technologies, Alkem Laboratories Stocks To Watch: Hindustan Zinc, Suzlon Energy, Glenmark Pharma, Hindustan Aeronautics, Vedanta Stocks To Watch: Realty Stocks, Lupin, Tata Power, PB Fintech, SBI, Suzlon Energy, Godrej Consumer, ABFRL Stocks To Watch: Tata Consumer Products, Varun Beverages, JSW Infra, IOC, Vodafone Idea
The Supreme Court on Thursday dismissed a Vedanta group’s plea against the closure of its copper smelting plant in Tamil Nadu’s Thoothukudi. The plant has been closed since May 2018 after 13 people were killed as police opened fire to quell a protest over alleged pollution caused by it.
Adani
Adani Group on Thursday said pre-tax profit or EBITDA of its portfolio companies that span from apples to airports soared 34% to Rs 79,000 crore in the 12 months ended December 2023 – 2.5x of EBITDA in the financial year 2021. EBITDA of Rs 78,823 crore in 2023 is compared with Rs 58,653 crore pre-tax profit in the previous year, it said in a statement.
Tata
The Union Cabinet on Thursday approved semiconductor projects worth Rs 1.26 trillion, including the country’s first Rs 91,000 crore semiconductor fabrication proposal by Tata Electronics in partnership with Taiwan-based Power Semiconductor Manufacturing Corp (PSMC). Including the Micron project which was approved last year, the total value of projects as on date stands at Rs 1.49 trillion.
Paytm
On February 29, SoftBank arm SVF India Holdings cut its stake in One 97 Communications by 2.17% via the sale of 13.7 million shares in the open market over the past almost one month, according to a statutory filing. With this, SoftBank affiliate SVF India Holdings (Cayman) has now a 2.83% stake in the fintech company.
Yes Bank
Yes Bank sees a huge opportunity in acquiring merchants at Paytm Payments Bank but the National Payments Corporation of India (NPCI) must give formal approval to the lender to onboard the crisis-ridden payment bank’s merchants, said the MD & CEO of the private sector bank, Prashant Kumar.
Adani Enterprises
On February 29, Adani Enterprises divested its entire stake in Vizag Tech Park summing to Rs 151 crore to Adani Infrastructure and Developers. Vizag Tech Park is no longer a wholly owned subsidiary of the company, according to an exchange filing.
Oil Companies
The Indian government has hiked windfall tax on petroleum crude to Rs 4,600 per tonne from Rs 3,300 per tonne. The government cut the windfall tax on Diesel to nil versus Rs 1.5 per liter.
Dilip Buildcon
The company’s unit has received an order for Rs 1,955 crore from the NHAI for the construction of the Four-Lane Urga-Patalgaon section in the State of Chhattisgarh, according to an exchange filing by the company.
Avantel
The company secured a purchase order of Rs. 5.48 crores from Garden Reach Shipbuilders for the manufacturing and supply of a 1 KW HF System.
Aurobindo Pharma
US FDA has given seven observations to Aurobindo Pharma’s injectable facility in Telangana state, the company said on February 29. US FDA inspected the injectable facility of Eugia SEZ from February 19-29, the company said in an exchange filing.
