Stocks To Watch: Tata Motors, Bandhan Bank, Hindustan Zinc, Indian Oil, Greenlam Industries, Emami

Asian markets are set to follow U.S. equities higher as concerns over financial stability ease as investors prepare for the Federal Reserve’s interest-rate decision later on Wednesday.

Contracts for the S&P 500 were flat after the index advanced 1.3% on Tuesday, while the tech-heavy Nasdaq 100 lifted 1.4% as the two U.S. benchmarks posted a second day of gains.

Banks enjoyed relief after days of turmoil that triggered last week’s 15% rout in an index of U.S. lenders. UBS Group AG rose as investors focused on the upside of its Credit Suisse Group AG takeover.

Meanwhile, the yield on 10-year treasuries were trading at 3.59%. Crude prices were trading around $75-mark, while Bitcoin was hovering around 28,000-level.

At 6:12 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.11% at 17,163.

Indian benchmark indices, Sensex and Nifty, held on to gains through the day and advanced after midday to end higher.

The Indian rupee pared gains against the U.S. dollar to close lower amid speculation of a possible dovish U.S. Fed at the upcoming policy meeting this week.

Foreign investors in Indian equities remained net sellers for ninth day in a row. Foreign portfolio investors sold equities worth Rs 1,454.63 crore on Tuesday. Meanwhile, domestic institutional investors remained net buyers for the ninth consecutive day as they bought equities worth Rs 1,946.06 crore. Foreign institutions invested in Indian equities have remained net sellers so far in 2023, selling equities Rs 50,147.64 crore.

• Tata Motors: The company raised prices of its commercial vehicles by 5% from April 1, 2023, to comply with the BS6 phase II emission norms.

• Tata Power: Subsidiary Tata Power Renewable Energy received letter of award to set up 200 MW solar PV project Maharashtra State Electricity Distribution Company at Solapur, Maharashtra.

• Bandhan Bank: The bank received binding bids of Rs.369.20 crore for written-off portfolio worth Rs 2,614.03 crore and Rs. 370.62 crore for NPA originating from banking units worth Rs 2,316.32 crore on security receipt consideration basis for transferring loans to asset reconstruction company.

• Indian Oil Corporation: The company will prepare a detailed feasibility report for setting up a petrochemical complex at Paradip, Odisha at an estimated project cost of Rs 61,077 crore. The project will improve the Petrochemical Intensity Index of the company and de-risk its fossil fuel business.

• Power Finance Corporation: The company’s board approved raising Rs 80,000 crore debt via long-term borrowings, short-term borrowings and commercial papers during the next financial year.

• Hindustan Zinc: The board approved fourth interim dividend for the current fiscal of Rs 26 per share, with an overall outgo of Rs 10,985.83 crore.

• Power Grid Corporation Of India: The company’s Committee of Directors for Bonds will meet on March 24 to consider issue of bonds under private placement.

• Lupin: The company received approval from the U.S. FDA for its Brexpiprazole tablets, which will be manufactured at its Pithampur facility in India.

• Zydus Lifesciences: The company received final approval from the U.S. FDA for Tofacitinib Tablets, 5 mg and tentative approval for Tofacitinib Tablets, 10 mg.

• Mastek: Ashank Desai will relinquish his role as Vice Chairman and Managing Director to Chairman and Managing Director from April 1, 2023.

• Samvardhana Motherson International: The company acquired remaining 50% stake of Fritzmeier Motherson Cabin Engineering from F Holdings GmbH, Austria.

• HG Infra Engineering: The company was declared the lowest bidder by North Central Railway for Redevelopment of Kanpur Central Railway Station at Rs 677.31 crore.

• Ashiana Housing: The company crossed the annual booking value guidance of Rs 1,100 crore for the year 2022-23. The total booking value up to March 20, 2023 stands at Rs 1,278.84 crore.

• Emami: The board of the company will meet on March 24 to consider a proposal for a share buyback scheme.

• Lloyds Metals And Energy: Pune IT Space Solutions bought 3.4 lakh shares (0.07%), Om Hari Mahabir Prasad Halan sold at 3.4 lakh shares (0.07%) at Rs 296.5 apiece.

• Greenlam Industries: Asiana Fund I bought 33.43 lakh shares (2.63%) at Rs 306 apiece, Smiti Holding And Trading Company sold 33.42 lakh shares (2.63%) at 306 apiece.

• Devyani International: Franklin Templeton Mutual Fund bought 62 lakh shares (0.51%) at Rs 145 apiece, Dunearn Investments Mauritius sold 3.44 crore shares (2.86%) at Rs 145.04 apiece.

• Shivalik Bimetal Controls: To meet investors and analysts between March 23 and 28.

• CreditAccess Grameen: To meet investors and analysts on March 22.

• Nuvoco Vistas Corporation: To meet investors and analysts on March 24.

• Uniparts India: To meet investors and analysts on March 22.

• Globus Spirits: To meet investors and analyst on March 22.

• UltraTech Cement: To meet investors and analyst on March 22.

• Record Date Interim Dividend: Housing & Urban Development Corporation

• Record Date Bonus Issue: Magellanic Cloud

• Move Out Of Short-Term ASM Framework: Seamec

• Kirloskar Oil Engines: Promoter Rahul Kirloskar bought 4,000 shares, promoter Atul Kirloskar bought 4,000 shares, promoter group Geetanjali Vikram Kirloskar sold 6,484 shares on March 20.

• Kirloskar Pneumatic Company: Promoter Rahul Kirloskar bought 2,500 shares, promoter Atul Kirloskar bought 2,500 shares, promoter group Geetanjali Vikram Kirloskar sold 1,155 shares on March 20.

• Zydus Wellness: Promoter Zydus Family Trust bought 1,785 shares on March 20.

• Mukand: Promoter group Baroda Industries bought 31,551 shares between March 17 and 20.

• Greaves Cotton: Promoter Karun Carpets bought 79,005 shares on March 20.

• Sunteck Realty: Promoter Matrabhav Trust, through its trustees Kamal Khetan and Manisha Khetan, bought 22,000 shares between March 17 and 20.

• Choice international: Promoter group Patodia Properties bought 21.3 lakh shares on March 20.

• KDDL: Promoter group RKS JS Family Trust bought 12,125 shares

• KCP: Promoter Dr. VL Indira Dutt bought 11,445 shares on March 20.

• Emami: Promoter group Suraj Finvest created a pledge of 4.4 lakh shares, promoter group Diwakar Finvest created a pledge of 19.5 lakh shares between March 16 and 17.

• Star Cement: Promoter group Vinay and Company revoked a pledge of 25,000 shares on March 16.

• Chambal Fertilisers & Chemicals: Promoter group Simon India created a pledge of 1.5 lakh shares on March 17.

• Gensol Engineering: Promoter group Gensol Ventures created a pledge of 8.55 lakh shares on March 17.

• Nifty March futures ended at 17,169.10, a discount of 140.2 points.

• Nifty March futures rose 0.28% and 694 shares in Open Interest.

• Nifty Bank March futures ended at 40,048.15, a discount of 565.8 points.

• Nifty Bank March futures fell 0.99% and 1,037 shares in Open Interest.

• Securities added to the ban period: Biocon, Indiabulls Housing Finance

• Securities removed from the ban period: Nil

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• NTPC - Capacity Addition Provides Long-Term Earnings Visibility: HDFC Securities