Stocks to watch: Shares of firms like Zomato, Wipro, NHPC, IRCTC, Bharti Airtel, JSW Energy, and others will be in focus on Wednesday’s trade.
Stocks To Watch On March 6: Equity Markets traded volatile on Tuesday amid mixed cues and ended with modest cuts. Analysts reiterate a bullish view and suggest continuing with a buy-on-dips approach. In today’s trade, shares of IRCTC, JM Financial, Zomato, and Samvardhana Motherson among others will be in focus due to various news developments
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JM Financials: The Reserve Bank of India (RBI) on Tuesday prohibited JM Financial Products from financing against shares and debentures, including sanctioning and disbursing loans against initial public offerings (IPOs) of shares and subscriptions to debentures.
Wipro: The IT services company, is set to acquire a 27 per cent stake in SDVerse LLC, aiming to enhance its leadership in software-defined vehicle and cloud car engineering services. The transaction is anticipated to conclude by the end of March 2024.
JSW Energy: The company has entered into a Battery Energy Storage Purchase Agreement (BESPA) with Solar Energy Corporation of India Limited (SECI) for its initial 250 MW/500 MWh standalone battery energy storage project.
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NHPC: The state-run power company, has initiated the development of the 1,200-MW Jalaun Ultra Renewable Energy Power Park in Jalaun, Uttar Pradesh. The solar park will be undertaken by Bundelkhand Saur Urja, an NHPC subsidiary, with an investment totaling Rs 796.96 crore.
Aavas Financiers: SBI Mutual Fund and Amansa Capital from Singapore infused Rs 1,186 crore into Aavas Financiers following a reduction in stakes by promoter entities in the housing finance company.
Zomato: Antfin Singapore, an affiliate of Alibaba, is set to divest 17.64 crore shares, representing a 2 per cent stake in Zomato. The block deal’s floor price has been established at Rs 159.4 per share, reflecting a 3.9 per cent discount from the closing price, CNBCTV18 reported.
IRCTC: On Tuesday, Swiggy partnered with the Indian Railway Catering and Tourism Corp (IRCTC) to provide pre-ordered meals to travellers at four major railway stations in India.
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Roche Holding: Roche Pharma India has entered the field of ophthalmology with the introduction of Vabysmo (faricimab) designed for addressing neovascular or ‘wet’ age-related macular degeneration (nAMD) and diabetic macular edema (DME).
Bharti Airtel: The telecom company sanctioned the issuance of 56.8 lakh shares to FCCB holders at a conversion rate of Rs 518 per share.
Mahanagar Gas: In response to a decrease in gas input costs, the company has reduced the price of compressed natural gas (CNG) by Rs 2.50 per kilogram in and around Mumbai.
CESC: Crescent Power, a subsidiary of the company, completed the acquisition of a 100 per cent stake in Purvah Green Power.
Space Stocks: The government on Tuesday notified the amended FDI norms in the space sector, clearing the deck for 100 per cent overseas investment in making components for satellites, 74 per cent in satellite manufacturing and operations, and 49 per cent in launch vehicles.
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