Stocks To Watch: Adani Enterprises, Aditya Birla Capital, NDTV, Nestle India, Allcargo, PNC Infratech
Stocks to watch before going into trade today.
U.S. stocks rose on the back of gains in financial shares even as tech stocks retreated from last week’s rally. The S&P 500 rose 0.2%, while the tech-heavy Nasdaq 100 fell 0.8% by 12.47 p.m. in New York. The yield on 10-year Treasuries advanced 13 basis points to 3.51%.
Crude rose 3.5%, while gold prices fell 1.3%. Bitcoin declined 2.3% to trade below $27,200 level.
Indian benchmark indices—Sensex and Nifty—snapped their two-day losing streak to end higher after a volatile session, led by gains in healthcare and pharma stocks.
Indian rupee closed higher against the U.S. dollar supported by rise in the domestic equities.
Foreign institutional investors offloaded stocks worth Rs 890.64 crore during the day. Domestic institutional investors remained net buyers for 13 days in a row, picking up stocks worth Rs 1,808.9 crore, the NSE data showed.
Meanwhile, Asian equities opened higher on Tuesday following rising US financial shares, while treasuries fell as fears of broader contagion from the banking turmoil eased.
At 06:05 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 0.35% at 17,072.5.
Stocks To Watch
Dilip Buildcon: The company has been chosen as the lowest bidder by the National Highways Authority of India for development of six-lane access controlled greenfield highway along a section of Bengaluru-Vijayawada economic corridor from Audireddipalle to Mallapalle in Andhra Pradesh. The bid project cost is Rs 780.12 crore.
PNC Infratech: The company has been declared the lowest bidder for the construction of a four-lane highway from Singraur Uphar to Baranpur Kadipur Ichauli in Uttar Pradesh. The project bid stands at Rs 819 crore.
SJVN: The company has received a loan of 15 billion Japanese yen (around Rs 915 crore) from Japan Bank for International Cooperation under the latter’s Global action for Reconciling Economic growth and Environmental preservation programme. The funds will be used to finance solar power projects in Madhya Pradesh and Gujarat.
Nestle India: The board will consider and approve an interim dividend for the year 2023 on April 12.
Aditya Birla Capital: The company will sell 25.65 lakh shares of Aditya Birla Insurance Brokers, and Infocyber India, the other shareholder of the insurance brokerage, will sell 25.64 lakh shares to Edme Services at an enterprise value of Rs 455 crore.
Allcargo Logistics: The company will buy 1.50 lakh shares of Gati-Kintetsu Express, representing 30% of the entire shareholding of the latter for Rs 406.71 crore. The deal includes purchasing 1.3 lakh shares (26%) from KWE-Kintetsu World Express (S) and 20,000 shares (4%) from KWE Kintetsu Express.
India Pesticides: The company received technical equivalence certification in the European Union for its newly commissioned herbicide technical product, which will bolster its export revenue.
Lemon Tree Hotels: The company opened its fifth hotel in Kerala under the brand ‘Keys Prima by Lemon Tree Hotels’. The 42-room property will be managed by the company’s subsidiary Carnation Hotels.
One97 Communications: Paytm Payments Bank is allowing its users to make payments on every UPI QR codes and online merchant where UPI payments are accepted on the back of wallet interoperability guidelines by NPCI. The payments bank will earn 1.1% interchange revenue on payments by Paytm Wallet customers.
The Phoenix Mills: Canada Pension Plan Investment Board invested Rs 160 crore in the company as the second tranche of the Rs 1,350 crore funding agreed to in November 2021.
Adani Enterprises: AMG Media Networks, a wholly owned subsidiary of the company, completed acquisition of 49% stake in Quintillion Business Media for a cash consideration of Rs 47.84 crore.
CreditAccess Grameen: The company allotted 26.75 lakh shares to eligible shareholders under the merger deal with Madura Micro Finance.
NDTV: The company appointed former SEBI Chairman Upendra Kumar Sinha and Welspun CEO Dipali Goenka as additional directors till March 26, 2025.
Axis Bank: The administrator of the Specified Undertaking of the Unit Trust of India, one of the promoters of the bank, has requested to be reclassified as a public shareholder. SUUTI has withdrawn the nomination of its nominee director on the bank’s board and surrendered its right to appoint one.
Maharashtra Seamless: Promoter group Sudha Apparels bought 25,000 shares on March 24.
Pidilite Industries: Promoter group AB Parekh Trustee sold 36,000 shares on March 24.
Mukand: Promoter group Baroda Industries bought 26,581 shares on March 23.
Kirloskar Pneumatic Company: Promoter group Achyut and Neets Holdings sold 57,155 shares on March 24.
UPL: Promoter group Suresight Ventures bought 23.22 lakh shares between March 21-23.
Sunteck Realty: Promoter Matrabhav Trust bought 20,000 shares on March 23.
Jai Corp: Promoter Mega Trust bought 2 lakh shares on March 23.
NRB Bearings: Promoter and director Harshbeena Zaveri bought 22,713 shares on March 24.
Motilal Oswal Financial Services: Promoter and director Raamdeo Ramgopal Agarawal bought 20,000 shares, promoter and director Motilal Gopilal Oswal bought 16,600 shares on March 24.
Dollar Industries: Promoter group VK Mercantile bought 58,406 shares on March 24.
KCP: Promoter Dr VL Indira Dutt bought 10,421 shares, Dr. Subbarao Vallabhaneni bought 9,900 shares between March 22-24.
Pledge Share Details
Emami: Promoter group Suraj Finvest created a pledge of 85,000 shares, promoter group Diwaker Finvest created a pledge of 13.90 shares and released a pledge of 2.50 lakh shares between March 22-24.
Chambal Fertilisers & Chemicals: Promoter Zuari Industries created a pledge of 25,000 shares on March 22.
Apollo Hospitals Enterprise: Promoter K Visweshwar Reddy created a pledge of 2.20 lakh shares on March 23.
Patel Engineering: Promoter Raahitya Construction created a pledge of 7 crore shares on March 23.
Trident: Madhuraj Foundation bought 1.24 crore shares (0.24%), Trident Limited Employees Welfare Trust sold 1.24 crore shares (0.24%) at Rs 25.75 apiece.
India Glycols: Abhishek Khaitan sold 2.04 lakh shares (0.66%) at Rs 584.82 apiece.
Supriya Lifescience: Dovetail India Fund Class 6 Shares sold 5.47 lakh shares (0.68%) at Rs 177.08 apiece.
Who's Meeting Whom
Sundram Fasteners: To meet investors and analysts on March 29.
Arvind: To meet investors and analysts on March 31.
Nifty March futures ended at 17,024.55 a premium of 69.50 points.
Nifty March futures fell 15.01% and 33,528 shares in Open Interest.
Nifty Bank March futures ended at 39,432 a premium of 8.20 points.
Nifty Bank March futures fell 5.86% and 4,853 shares in Open Interest.
Securities added to the ban period: Nil
Securities removed from the ban period: Indiabulls Housing Finance and Hindustan Aeronautics.
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Disclaimer: AMG Media Networks Ltd., a subsidiary of Adani Enterprises Ltd., holds 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime