Stocks To Watch: LIC Housing Finance, M&M, HCL, Biocon, Petronet, Hindustan Zinc, Mahindra CIE

Asian markets declines on Wednesday after the S&P 500 tumbled by the most in two months and Treasury yields rose sharply as investors price in higher interest rates.

The S&P 500 tumbled 2% on Tuesday in a decline that touched all major sectors, while the tech-heavy Nasdaq 100 dropped 2.4%. Weak forecasts from the U.S. retailing bellwethers added to the negative tone.

Meanwhile, the yield on 10-year Treasuries sharply advanced to 3.94%. Crude prices were trading around $83-mark, while Bitcoin was trading around 24,000-level.

At 7 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was down 0.33% at 17,784.50.

India's benchmark indices Sensex and Nifty ended lower for the third day in a row following a volatile session, led by declines in PSU and realty stocks.

Rupee ended lower against the U.S. dollar on account of weaker domestic equities and a stronger greenback in the overseas market.

Overseas investors in Indian equities turned net buyers on Tuesday, after a two-day selling spree. FPIs bought equities worth Rs 525.8 crore, while the DIIs turned net sellers after a day and sold equities worth Rs 235.23 crore, they snapped a four-day buying streak on Feb. 17.

• Mirza International: The Allahabad bench of NCLT has approved the composite scheme of arrangement between RTS Fashions, Mirza International and Redtape.

• Bharat Electronics: The company signed an MoU with Aeronautical Development Agency under Defence Research and Development Organisation for the Advanced Medium Combat Aircraft programme.

• Hindustan Zinc: The shareholders of the company will meet on March 29 to consider reorganisation of capital, pursuant to the NCLT order in this regard.

• HCL Technologies: HCL America, a wholly owned subsidiary of the company, increased the buyback limit of its $500 million senior notes to $247.8 million from earlier announced $125 million.

• ITI: The company has appointed Rajesh Rai as the chairman and managing director for five years, effective Feb. 21, 2023.

• Sapphire Foods India: The company will increase its shareholding in Gamma Island Food, which operates Pizza Hut and KFC restaurants in Maldives, to 75% from the current 51%.

• LIC Housing Finance: ICICI Prudential Mutual Fund has increased its shareholding in the company to 7.07% from 5.04%.

• Petronet LNG: The board extended the tenure of chief financial officer Vinod Kumar Mishra for two years, effective April 18, 2023.

• Biocon: The company raised Rs 1,070 crore via non-convertible debentures issued on private placement basis.

• Mahindra & Mahindra: The company has entered into an Asset Transfer Agreement for transfer of certain identified assets related to four-wheeler passenger electric vehicles to Mahindra Electric Automobile. The transfer of balance assets will be completed by June 30, 2026. The investment of Rs 1,925 crore in the proposed EV company by the company and British International Investment each would take place in two or more tranches.

Elantas Beck India Q4 FY23 (YoY)

• Revenue up 13.14% at Rs 164.63 crore

• Ebitda up 36.25% at Rs 29.62 crore

• Ebitda margin at 18% vs 14.94%

• Net profit up 59.52% at Rs 26.48 crore

• The company announced final dividend of Rs 5 per share.

Mahindra CIE Automotive.

Jindal Steel & Power: Promoter group Gagan Infraenergy revoked a pledge of 3,950 shares on Feb. 16.

• Ex-Date Interim Dividend: Balrampur Chini Mills, Bosch, Cochin Shipyard, Goldiam International, IRCTC, Oil India, MSTC, Torrent Power, Tide Water Oil (India)

• Record Date Interim Dividend: Balrampur Chini Mills, Bosch, Cochin Shipyard, Goldiam International, IRCTC, Oil India, MSTC, Torrent Power, Tide Water Oil (India)

• Ex-Date Stock Spilt: IRB Infrastructure Developers

• Record Date Stock Spilt: IRB Infrastructure Developers

• Ex-Date Special Dividend: Tide Water Oil (India)

• Record Date Special Dividend: Tide Water Oil (India)

• Move Into Of Short-Term ASM Framework: Pennar Industries.

• RITES: To meet investors and analysts on Feb. 22.

• Global Health: To meet investors and analysts on Feb. 22 and 23.

• Elecon Engineering Co.: To meet investors and analysts on Feb. 22.

• Can Fin Homes: To meet investors and analysts on Feb. 27.

• Five-Star Business Finance: To meet investors and analysts on Feb. 24.

• Sterling Tools: To meet investors and analysts on Feb. 23.

• Carborundum Universal: To meet investors and analysts on Feb. 22.

• UltraTech Cement: To meet investors and analysts on Feb. 22.

• Indigo Paints: To meet investors and analysts on Feb. 23.

• Pricol: To meet investors and analysts on Feb. 23.

• KPI Green Energy: To meet investors and analysts on Feb. 23.

• Cummins India: To meet investors and analysts on Feb. 23.

• Nifty February futures ended at 17,851 a discount of 11.65 points.

• Nifty February futures fell 17.27% and 29,024 shares in Open Interest.

• Nifty Bank February futures ended at 40,737.90, a discount of 58.15 points.

• Nifty Bank February futures fell 4.10% and 4,149 shares in Open Interest.

• Securities added to the ban period: Vodafone Idea

• Securities removed from the ban period: Nil.

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• Samvardhana Motherson - Scaling Up Inorganically And Profitably: ICICI Securities

• JB Chemicals Management Meet Update - Remains Poised For Strong Growth In The Domestic Market: Nirmal Bang