Stocks to watch: Shares of firms like BPCL, HUL, Paytm, Vedanta, Coal India, Glenmark Pharma, and others will be in focus on Thursday’s trade.
Stocks To Watch On February 15: Equity markets staged a recovery from the day’s low to close higher on Wednesday, buoyed by favourable inflation figures from the UK, contributing to a widespread recovery. In today’s trade, shares of BPCL, ABFRL, Paytm, Muthoot Finance, HUL among others will be in focus.
Read More: NSE to conduct special live trading session on March 2 with intraday switch to DR site
BPCL: BPCL ESPS Trust on Wednesday sold 0.3% stake in Bharat Petroleum Corporation through the open market for around Rs 400 crore.
HUL: The Andhra Pradesh Government and Hindustan Unilever Limited are looking to collaborate on palm oil production in the state.
Reliance (RIL): The Mukesh Ambani-led firm is in talks the Walt Disney Company, to buy 29.8 per cent stake in Tata Play. This move is seen as part of RIL’s broader strategy to deepen its footprint in India’s television distribution sector.
Read More: Muthoot Finance Q3 Results: Profit, net interest income rise, beat estimates
Paytm: The Directorate of Enforcement (ED) has launched a preliminary investigation or a pre-open inquiry into alleged violations related to the Foreign Exchange Management Act (Fema) in the Paytm Payments Bank case, sources said. ED is learnt to have sought further clarification on the matter from the central bank.
NMDC: Posted a 62.6 per cent growth in Q3 consolidated net at Rs 1,470 crore on a year-on-year basis, backed by 45.4 per cent jump in revenue from operations to Rs 5,410 crore.
Glenmark Pharma: Reported a consolidated net loss of Rs 449.60 crore for Q3FY24 as against a net profit of Rs 185.80 crore in Q3Fy23. Revenue from operations declined 19.1 per cent YoY to Rs 2,506.70 crore.
Read More: Esconet Tech IPO to open on Feb 16; price band fixed at Rs 80-84 per share
Utkarsh Small Finance Bank: Post passing a resolution for a reverse merger between the holding company Utkarsh Core Invest (UCL) and the bank, the UCL board has suggested initiating steps towards the same.
Vedanta: The parent company of the Indian miner may sell about $1 billion worth shares in the company to GQG Partners via block deals, reports suggested.
Coal India: The firm has maintained the top position among all Central Public Sector Enterprises (CPSEs) in Government e-Marketplace (GeM) procurement. As on Feb 14, 2024, the procurement through GeM soared to Rs 63,890 crore, which is 300 per cent of the annual target of Rs 21,325 crore.
Auto: Analysts at rating agency ICRA expect sales of Commercial vehicle (CV) in India to see a dip in FY25. The CV industry is expected to end FY24 with a 2-5 per cent growth in volume but in FY25 it may decline by 4-7 per cent.
