Stocks To Watch: Axis Bank, Zee Enterprises, Adani Transmission, SpiceJet, Sanofi, Rail Vikas Nigam

Asian markets were mixed at opening after the U.S. stocks closed higher in a volatile session as investors await inflation data for clues on the Federal Reserve’s rate-hike campaign.

The S&P 500 came back higher on Thursday, halting a four-day selloff, while the Nasdaq 100 outperformed. Oil rose after snapping its longest losing streak since December as commodity currencies strengthened in an indication that risk appetite may be picking up.

Meanwhile, the yield on 10-year Treasuries advanced to 3.86%. Crude prices were trading around $82-mark, while Bitcoin was trading below 24,000-level.

At 6:10 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.22% at 17,629.

On the day of monthly F&O expiry, domestic benchmark indices Sensex and Nifty closed marginally lower after struggling with volatility throughout the session on Thursday.

Rupee extended gains from the opening trade to close higher against the U.S. dollar, snapping a two-day fall.

Overseas investors in Indian equities remained sellers for the second day in a row on Thursday. Foreign portfolio investors offloaded equities worth Rs 1,417.24 crore, while, the domestic institutional investors were buyers for the second-straight day and mopped up stocks worth Rs 1,586.06 crore.

Axis Bank: The lender sees reasonable possibility of completing the acquisition of India consumer business from Citibank NA and NBFC consumer business from Citicorp Finance (India) by March 1, 2023.

Rail Vikas Nigam: The company received letter of award for a project worth Rs 196.77 crore in Bhopal region of MP Madhya Kshetra Vidyut Vitaran Company Ltd.

Zee Enterprises: Appellate tribunal NCLAT has listed the plea challenging insolvency proceedings against the company on Friday for hearing. The National Stock Exchange has excluded the company from the futures and options segment following the bankruptcy board's move to admit it for insolvency proceedings.

Isgec Heavy Engineering: The company received an order from a major steel company for seven waste heat recovery boilers for its DRI sponge iron kiln.

Adani Transmission: Fitch Ratings affirmed the 'BBB-' ratings on the $400 million senior secured notes issued by the restricted group of the company, with outlook at stable.

Mahindra Lifespace Developers: Arvind Subramanian has resigned from the position of managing director and chief executive officer of the company, with effect from close of business on May 22, 2023, to pursue personal interests. Amit Kumar Sinha assume the office from May 23 for a period of five years.

Alkem Laboratories: The company submitted a detailed corrective and preventive action plan to the US FDA against one observation issued by the regulator after inspecting the company’s Indore plant in July. The inspection has now been closed.

Bharat Forge: The Company has decided to house all its defense related investments under subsidiary KSSL for a better strategic alignment, transferring its stake in another subsidiary Aeron.

West Coast Paper Mill: The contract workers’ strike was called off and production at the paper and paper board division at the company’s Dandeli facility was restarted with marginal production loss.

• Sanofi India Q4 CY22 (YoY)

Revenue down 2.33% at Rs 671.9 crore (Bloomberg estimate: Rs 705.67 crore)

Ebitda up 31.21% at Rs 166.9 crore (Bloomberg estimate: Rs 178.47 crore)

Ebitda Margins at 24.84% vs 18.5% (Bloomberg estimate: 25.3%)

Net profit up 44.8% at Rs 130.9 crore (Bloomberg estimate: Rs 161.8 crore)

The company recommended a final dividend of Rs 194 per share and a second special dividend of Rs 183 per share.

• KSB Q4 CY22 (Consolidated, YoY)

Revenue up 18% at Rs 524.6 crore

Ebitda up 36.2% at Rs 76.8 crore

Ebitda margins at 14.64% vs 12.69%

Net profit up 42% at Rs 55.9 crore

The board recommended a dividend of Rs 15 per share.

SpiceJet

• Emami: Promoter group Suraj Finvest created a pledge of 11 lakh shares and Suraj Finvest revoked a pledge of 10 lakh shares between Feb. 21-22.

• Sterling and Wilson Renewable Energy: Promoter Khurshed Yazdi Daruvala created a pledge of 20 lakh shares on Feb. 20.

• Ultramarine & Pigments: Promoter group S Narayan bought 2,000 shares, promoter group Deepa Ajay bought 4,000 shares and promoter Daya Sirdhar bought 4,000 shares on Feb. 22.

• Gallantt Ispat: Promoter group Maanaav Dineshkumar Agarwal bought 11,459 shares on Feb. 21.

• Sobha: Promoter Puthan NC Menon bought 14,465 shares on Feb. 21.

• PSP Projects: Promoter and director Prahaladbhai S Patel bought 2,000 shares on Feb. 21.

• Ex-Date Interim Dividend: Amrutanjan Health Care, Apollo Hospitals Enterprise, Banco Products (India), BEML, CESC, Insecticides (India), NLC India, NMDC, ONGC, Power Finance Corporation, PI Industries, Polyplex Corporation, Precision Wires India, Satia Industries, Tamilnad Mercantile Bank, Uniparts India

• Record Date Interim Dividend: Amrutanjan Health Care, Apollo Hospitals Enterprise, Banco Products (India), BEML, CESC, Insecticides (India), NLC India, NMDC, ONGC, Power Finance Corporation, PI Industries, Polyplex Corporation, Precision Wires India, Satia Industries, Tamilnad Mercantile Bank, Uniparts India

• Move Into Of Short-Term ASM Framework: Universal Cables, Dishman Carbogen Amcis.

• Garware Technical Fibres: To meet investors and analysts on Feb. 24.

• Uniparts India: To meet investors and analysts on Feb. 24.

• Timex Group: To meet investors and analysts on Feb. 27.

• Sonata Software: To meet investors and analysts on Feb. 24.

• Sterling and Wilson Renewable Energy: To meet investors and analysts on Feb. 24.

• Suzlon Energy: To meet investors and analysts on Feb. 24.

• Nifty March futures ended at 17,628.90 a discount of 33.15 points.

• Nifty March futures rose 56.66% and 75,643 shares in Open Interest.

• Nifty Bank March futures ended at 40,363.10 a premium of 77.45 points.

• Nifty Bank March futures rose 49.46% and 34,592 shares in Open Interest.

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• Hotels Sector Check - Robust Q3 Driven By Improved RevPAR: Motilal Oswal

• Auto OEM Monthly Preview – Auto Volume To Be Muted In Feb Except Passenger Vehicles: Dolat Capital

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