Stocks to watch: Shares of firms like Paytm, Tata Group, Airtel, Vedanta, Suven Pharma, ONGC, and others will be in focus on Friday’s trade.
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Stocks To Watch On March 1: Equity indices opened on a weak note on Thursday, but recovered and closed the day in the green in a highly volatile session.
Paytm: Paytm and Paytm Payments Bank (PPBL) have mutually agreed to discontinue various inter-company agreements.
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L&T: It has commissioned its first hydrogen electrolyser at the green hydrogen plant at Hazira, Gujarat.
Tata Group stocks: The Union Cabinet has approved Rs 1.26 trillion worth of investments in three semiconductor plants, including a Tata group proposal to build the country’s first major chip fabrication facility at Dholera in Gujarat. It also cleared a separate Tata proposal for a chip assembly plant in Morigaon, Assam, and another by CG Power in Sanand, Gujarat. The work on all three projects is expected to begin in the next 100 days.
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CG Power And Industrial Solutions: The company will invest Rs 7,600 crore to set up a semiconductor unit in Gujarat in partnership with Renesas Electronics Corp.
Auto stocks: Auto shares will be in focus ahead of February sales.
Bharti Airtel: Sunil Mittal has set a target of achieving a Rs 300 average revenue per user (ARPU) by the end of the fiscal year 2024-25 (FY25), he told CNBC-TV18. He also said users will not pay anything extra for 5G.
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Vedanta: The Supreme Court on Thursday dismissed a plea by the Vedanta Group to reopen its copper smelter plant in Tamil Nadu’s Thoothukudi, citing “serious violations and repeated breaches.”
Suven Pharma: Its board has approved the amalgamation scheme of Cohance Lifesciences with Suven, creating one of India’s largest integrated contract development and manufacturing organisation (CDMO) players.
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Biocon: Biocon arm Biocon Biologics has signed a settlement and license agreement with Janssen Biotech Inc, and Johnson & Johnson (collectively Janssen) that clears the path to commercialise Bmab 1200, a proposed biosimilar to Stelara in the US.
RIL, ONGC, Oil India: The government hiked its windfall tax on petroleum crude to Rs 4,600 per ton from Rs 3,300 with effect from March 1. Windfall tax on diesel has been cut to zero from 1.50 per litre.
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Dilip Buildcon: The company’s unit has won an order worth Rs 1,955 crore from the NHAI.
