HomeMarket InsiderStocks to watch: Lupin, GAIL, PNB Housing, Shriram Finance, Axita Cotton

Stocks to watch: Lupin, GAIL, PNB Housing, Shriram Finance, Axita Cotton

After two days of losses, domestic markets are poised to stabilize in Tuesday’s trading session. The SGX Nifty was trading at 17,208 points as of 7:45 a.m., up 28 points.

Internationally, the US markets were mixed overnight as a result of the repercussions from Silicon Valley Bank. As the Dow Jones and the S&P 500 lost up to 0.2%, the NASDAQ Composite surged 0.4%.

Asia-Pacific markets, on the other hand, bled this morning, with the Nikkei 225, Topix, Kospi, Kosdaq, and S&P 200 all falling up to 3.5%.

Meanwhile, here are a few stocks that are anticipated to move on Tuesday:

Embassy Office Parks REIT: According to the firm, it has invested more than Rs 300 crore in green efforts throughout its commercial developments. They just completed the first phase of a 20 megawatt (MW) solar rooftop project that promises to produce 30 million units of solar electricity.

PNB Home Finance: The business has acquired Sebi authorization to fund up to Rs 2,500 crore via a share rights offering. The net proceeds of the offering will be used to increase the company’s capital base.

Shriram Finance: The business plans to raise up to $2.4 billion to fuel its expansion in the next fiscal year, which begins in April. The company’s management said that it intends to increase its assets under management (AUM) by 15% in fiscal 2024, to roughly Rs 1.9 trillion–2 trillion.

Lupin: The US Food and Drug Administration (USFDA) performed an investigation of Lupin’s Bioresearch Institute in Pune, India, and concluded with no findings. The Lupin Bioresearch Centre undertakes BA/BE, PK/PD, in-vitro BE, and biosimilar research.

GAIL (India): The state-owned company has announced an interim dividend of 40% on the paid-up equity share capital, equal to Rs 4 per share, with a record date of March 21, 2023. Based on existing holdings, the government would get Rs 1,355 crore in dividends, while shareholders would receive Rs 1,275 crore.

CreditAccess Grameen: CreditAccess Grameen has reached the Rs 20,000 crore AUM milestone. The management team is optimistic about achieving 24-25% AUM growth in FY23, 4.4% ROA, and 16-18% ROE. Moreover, they want to establish 34 new locations by March 31, 2023.

Axita Cotton: The firm received a $2.72 million contract from Taraspinning Mills in Bangladesh and Khadiza Sadek Spinning Mills in Bangladesh for Indian raw cotton.

Surya Roshni: The business received an order from HPCL for the delivery of 3LPE-coated steel pipes for city gas distribution projects in Rajasthan, Bihar, Jharkhand, and West Bengal for Rs 96.3 crore.

Dhanlaxmi Fabrics: The company’s management has decided to carry out major structural renovations on its 30-year-old factory building, as well as technological advancement and upgradation of its plant and equipment installed and located at its Dombivali unit, including the installation of a BOD and COD online meter.

Stocks subject to the F&O prohibition: On Tuesday, March 14, only GNFC was subject to the F&O restriction.

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