Stocks to watch: Shares of firms like TCS, Tata Steel, HG Infra, AB Sun Life, P&G India, L&T Finance, and others will be in focus on Tuesday’s trade.
Stocks To Watch on March 19: Benchmark indices closed higher in a highly volatile trade on Monday as investors turned cautious ahead of the US Fed’s interest rate decision. In today’s trade, shares of L&T Finance, AB Sun Life, TCS, Tata Steel, P&G India among others will be in focus due to various developments.
Read More: Top 15 Highest Dividend Paying PSU Stocks For Regular Income And High Returns- Check Full List
L&T Finance: The Board of L&T Finance Holdings approved raising of Rs 1.01 lakh crore through issuance of non-convertible debentures in one or more tranches.
TCS: Tata Sons is set to divest a 0.65 per cent stake in in TCS on Tuesday in the open market, according to a term sheet. It will offload 23.4 million shares at a floor price of Rs 4,001.
Separately, TCS is planning to increase salaries by an average of 7-8 per cent for its offsite employees and 2-4 per cent for its onsite staffers in 2024-25. High performers can expect a raise of 12-15 per cent.
Popular Vehicles and Services: The stock will make its debut on bourses today against an issue price of Rs 295.
Read More: LIC shares down 10% in 5 sessions as 17% hike will raise wage bill to Rs 29,000 crore
L&T Finance Holdings: Its board has approved raising up to Rs 1.01 lakh crore via NCDs in one or more tranches.
Tata Steel: Tata Steel UK said it will cease operations of the coke ovens at the Port Talbot plant in Wales after a deterioration of operational stability. It said it will increase coke imports to offset the impact of the coke oven closures.
Aditya Birla Sun Life AMC: Its promoters will divest 11.47 per cent stake (33 million shares) in the company through the offer-for-sale (OFS) route from March 19-20, 2024. The floor price for the OFS has been set at Rs 450 per share. This is a discount of 5 per cent to the current market price.
HG Infra Engineering: The company in a JV with Stockwell Solar Services has received a LoA for a project worth Rs 1,026 crore from Jodhpur Vidyut Vitran Nigam.
Read More: Rekha Jhunjhunwala-backed Baazar Style Retail files for IPO. Check details
P&G India: P&G India announced the appointment of Kumar Venkatasubramanian as CEO, with effect from May 1, 2024. The current CEO, L V Vaidyanathan will leave the company to pursue personal interests.
DISCLAIMER:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
