Stocks To Watch: HDFC, Ashoka Buildcon, Mahanagar Gas, Vakrangee, Nerolac, Easy Trip Planners
Stocks to watch before going into trade today.
Asian markets opened higher on Monday after the U.S. stocks ended last week on a positive note, driven by speculation that the Federal Reserve won’t raise interest rates beyond peak levels, as it is already priced in.
Australian shares rose at the open while the U.S. futures declined. A rally in the S&P 500 on Friday helped snap a three-week losing streak while the Nasdaq 100 scored its best day since early February.
Meanwhile, the yield on 10-year Treasuries advanced to 3.96%. Crude prices were trading around $85-mark, while Bitcoin was trading below 23,000-level.
At 5:45 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.56% at 17,730.
Indian benchmark indices—Sensex and Nifty—closed with 1.5% gains, which was the biggest single-day advance in four weeks.
Rupee strengthened against the U.S. dollar amid high foreign fund inflow and rise in domestic equities.
Overseas investors in Indian equities remained net buyers for second straight day on Friday. FPIs bought equities worth Rs 246.24 crore, while DIIs were also net buyers for the eighth straight day and mopped up stocks worth Rs 2,089.92 crore. Foreign institutions have remained net sellers of Rs 39,963.16 crore worth of Indian stocks so far in 2023.
Stocks To Watch
HDFC: The NCLT approves merger of wholly owned subsidiaries HDFC Property Ventures and HDFC Venture Capital with subsidiary HDFC Capital Advisors.
Ashoka Buildcon/Mahanagar Gas: The company with Morgan Stanley-managed North Haven India Infrastructure Fund will sell 100% stake in subsidiary Unison Enviro, comprising 13.54 shares, to Mahanagar Gas for Rs 531 crore.
Exide Industries: The NCLT approved merger of Chloride Power Systems & Solutions with parent entity Exide Industries.
Info Edge (India): The company’s wholly owned subsidiary Redstart Labs (India) will invest Rs 5.2 crore in pet care company Sploot, making it an associate entity.
Vakrangee: Equity shareholders and unsecured creditors, in separate meetings, have approved the demerger of e-governance and IT/ITeS business of the company into VL E-Governance & IT Solutions.
Power Grid Corporation of India: The company has been declared as the successful bidder for two expansion projects in Chhattisgarh.
Easy Trip Planners: The company signed an MoU with Andhra Pradesh government for promotion of tourism in the state.
Kansai Nerolac Paints: The joint venture between Kansai Nerolac Paints and Polygel Industries will acquire 40% in Nerofix for a cash consideration of Rs 37 crore.
Zydus Lifesciences: The company received final approval from the U.S. FDA for Vigabatrin for Oral Solution USP, 500 mg. The formulation had annual sales of $233.7 million in the U.S.
Indian Energy Exchange: February 2023 Business Update
The company achieved total volume of 8,200 million units in February.
The total volume includes green power trade of 341 million units.
Real-time market volumes increased 10% on-year at 1,714 million units.
Divgi Torqtransfer Systems: The IPO was subscribed 5.44 times on the final day with institutional buyers leading demand. The QIB portion was subscribed 7.83 times, whereas HNIs placed bids for 1.4 times of their respective portion. The retail portion received bids 4.31 times its size on the closing day.
Embassy Office Parks REIT: APAC Company XXIII bought 3.71 crore shares (3.9%), The Regents of The University of California bought 55.7 lakh shares (0.59%), Embassy Property Developments sold 4.26 crore shares (4.5%) at Rs 299.34 apiece.
Manappuram Finance: SBI Mutual Fund bought 48 lakh shares (0.57%) at Rs 106.59 apiece.
Reliance Power: EARC Trust SC 384 sold 2.5 crore shares (0.67%) at Rs 10.44 apiece.
Who’s Meeting Whom
Five-Star Business Finance: To meet investors and analysts on March 6 and 7.
Crisil: To meet investors and analysts on March 6.
Kabra Extrusiontechnik: To meet investors and analysts on March 6.
Arvind: To meet investors and analysts on March 9.
Ex-Date Buyback: Hinduja Global Solutions
Record Date Buyback: Hinduja Global Solutions
Ex-Date Interim Dividend: Hinduja Global Solutions
Record Date Interim Dividend: Hinduja Global Solutions
LG Balakrishnan & Bros: Promoter group LG Sports bought 12,000 shares between March 1-2.
HCL Technologies: Promoter Vama Sundari Investments (Delhi) bought 6.29 lakh shares between Feb. 27-28.
Kewal Kiran Clothing: Promoter Kewal Kiran Finance bought 2,948 shares on Feb. 24.
Gateway Distriparks: Promoter Perfect Communications bought 3.25 shares between March 1-2.
Pledged Share Details
Emami: Promoter group Diwakar Finvest revoked a pledge of 3.14 lakh shares on March 2.
Nifty March futures ended at 17,661.45 a premium of 262.05 points.
Nifty March futures declined 8.33% and 19,692 shares in Open Interest.
Nifty Bank March futures ended at 41,423.65 a premium of 795.85 points.
Nifty Bank March futures rose 2.15% and 2,028 shares in Open Interest.
Securities added to the ban period: Nil
Securities removed from the ban period: Nil