Stocks to watch: Shares of firms like Paytm, SBI, Wipro, Paytm, Canara Bank, CMS Infosystems, and others will be in focus on Tuesday’s trade.
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Stocks To Watch On February 27: Indian equity indices closed in the red for the second straight session due to profit booking and weak global cues. In today’s trade, some shares will be in focus due to various news and related developments.
Paytm: Vijay Shekhar Sharma has resigned from the board of Paytm Payments Bank as part-time non-executive chairman as the payment bank has decided to reconstitute the board by inducting former bureaucrats and public sector bankers.
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Canara Bank: Its board has approved a stock split of every 1 share into 5 shares.
CMS Info Systems: As per CNBC Awaaz, the company’s promoter Sion Investment will likely sell its entire 26.7 per cent stake in the firm via block deals today. The floor price is set at Rs 360.
Vodafone Idea: The company’s board will meet today to consider fundraising. It is likely to raise equity from new investors, diluting the stakes of existing shareholders, including Vodafone Group Plc, Aditya Birla Group, and the Government of India, according to reports.
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TVS Motor: Its Singapore subsidiary will raise stake in Germany-based electric mobility products and components start-up Killwatt GmbH to 49 per cent from 39.28 per cent by buying an additional 8,000 equity shares for 4 million euros (over Rs 35 crore).
Wipro: The company has partnered with Finnish telecom giant Nokia to deliver private 5G wireless solutions to enterprises to help them create an integrated private environment that they can control to better manage performance and mitigate security risks.
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SBI, Union Bank: The Reserve Bank of India (RBI) on Monday imposed a monetary penalty on State Bank of India (SBI), Canara Bank, and City Union Bank for violation of various norms.
The largest lender, SBI, was penalised with Rs 2 crore for holding shares as pledgee of an amount over 30 per cent of the paid-up share capital of certain companies.
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Power Mech Projects: It has received an order worth Rs 396 crore from South East Central Railway on an EPC Basis.
MCX: MCX has entered into a MoU with Indonesia’s largest commodity exchange Jakarta Futures Exchange to enhance collaboration in knowledge sharing and other market development initiatives.
Lemon Tree: It has signed a license agreement for Lemon Tree Resort in Sankhwas Garh, Rajasthan and Keys Lite by Lemon Tree Hotels, Vijayawada.
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Indian Oil: State-run Indian Oil has cancelled the tender for setting up the first green hydrogen plant at the company’s Panipat Refinery and Petrochemical Complex in Haryana.
