HomeMarket InsiderStocks to Watch: Power Grid, HDFC, Mahanagar Gas, Naukri, IEX, Zydus Life

Stocks to Watch: Power Grid, HDFC, Mahanagar Gas, Naukri, IEX, Zydus Life

On Monday, equity benchmark indexes may begin with nominal gains as global counterparts advance. According to the SGX Nifty, which was trading at 17,700, the Nifty index may open roughly 50 points higher.

Friday’s closing on Wall Street was positive. The Dow Jones, Nasdaq Composite, and S&P 500 indexes all finished 1-2 percent higher.

This morning, Asia-Pacific markets were mixed. The Nikkei index gained more than 1%, the Kospi 0.5%, while the Hang Seng, Straits Times, and Shenzhen indexes fell somewhat.

Here are some stocks to keep an eye on in today’s trading:

Reliance Industries: Reliance Industries (RIL, US-based First Solar, and Shirdi Sai have bid for end-to-end polysilicon wafer cell modules (PWCM) manufacture for a total of 15.4 gigatonnes (GW) under the second tranche of the production linked incentive (PLI) programme for solar equipment manufacturing. READ

Power Grid: The power transmission utility has been declared the preferred bidder to develop an inter-state transmission system for two projects in Chhattisgarh on a build, own, operate, and transfer (BOOT) basis. On March 2, the firm obtained letters of intent for two projects.

Zydus Lifesciences: The business has acquired final FDA clearance to sell Vigabatrin as an oral solution USP, 500 mg.

HFDC: The National Company Law Tribunal (NCLT) has approved the merger of HDFC Property Ventures and HDFC Venture Capital with HDFC Capital Advisors, a subsidiary of HDFC.

Indian Energy Exchange: Overall volumes for February on the Indian Energy Exchange were 8,200 MU. Real-time market volume increased 10% year over year to 1,714 MU.

Mahanagar Gas: Mahanagar Gas has agreed to buy Unison Enviro, a subsidiary of Ashoka.

Kansai Nerolac: The business has accepted the purchase of Nerofix shares (40 percent of the total ownership) from Polygel. As a result of the aforementioned share transaction, Nerofix Private Limited will become a completely owned subsidiary of Kansai Nerolac Paints.

Info Edge: The company’s subsidiary, Redstart Labs, would invest around Rs. 5.2 crore in Sploot. Sploot is in the business of offering pet owners goods and services related to their pet’s health, behaviour, and nutrition via content and app-based assistance.

Force Motors: The firm has declared that it will produce 2,259 automobiles in February 2023, a 6.4% decrease from the previous month’s total of 2,413 vehicles. Domestic sales increased by 9% year on year to 2,236 automobiles, while exports plummeted by 45% to 221 vehicles during the same time.

Easy Trip Planners: The firm and the state government of Andhra Pradesh have inked an agreement to promote tourism in the state.

Linde India: The business has invested Rs 7.69 crore in FPEL Surya Private Limited for a 26% stake. The goal of stake acquisition is to acquire renewable energy via a captive method, resulting in a cheaper tariff and cost savings.

Hindustan Aeronautics: The business has obtained an income tax refund order from the Office of the Joint Commissioner of IT for the assessment year 2012–13, as directed by ITAT, Bangalore. ITAT approves R&D expenditure of Rs 725.98 crore as capital expenditure, leading to a return of Rs 570.05 crore. This return includes interest of Rs 163.68 crore.

Elgi Equipments: On March 3, 2023, the firm founded a wholly owned subsidiary company in Vietnam called “Elgi Compressors Vietnam LLC” and got the Enterprise Registration Certificate dated March 1, 2023.

Satin Creditcare Network: The Firm Completes the Merger of Wholly Owned Subsidiaries in MSME and Business Correspondent Services Taraashna Financial Services Ltd., a subsidiary of Business Correspondent, joins Satin Finserv, an MSME arm.

Gyscoal Alloys: A board meeting will be conducted on March 9 to authorise the preferential issue of shares and warrants.

Orchid Pharma: Orchid Pharma and its subsidiary, Orchid Bio Pharma, have signed a Memorandum of Understanding (MoU) with an international technology supplier to in-license 7ACA technology. Orchid-Bio Pharma received clearance under the production-linked incentive (PLI) plan in July 2022 to manufacture product ‘7 ACA’.

PNC Infratech: The business has gotten a ‘provisional certificate’ from an independent engineer for a national highway project of the National Highways Authority of India that is being executed by its subsidiary, PNC Triveni Sangam Highways (SA Infrastructure Consultants). The project’s start date was set for January 12, 2019, with a construction term of 910 days and a post-completion period of 15 years.

ITC: On March 3, 2023, the business established a new, totally owned subsidiary called ‘ITC Fibre Innovations Ltd.” The claimed company’s first subscribed share capital would be Rs. 1 lakh.

Bajaj Electricals: The business has received orders worth Rs 564.87 crore for the delivery of equipment and services to the South Bihar Electricity Distribution Corporation.

News Desk
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