Stocks to watch out for today: Adani Green, Coforge, DLF, IIFL Finance, Tata Motors and more

Sensex ended 906 pts lower at 72,761 and Nifty lost 338 points to close at 21997. Watch Adani Green, Coforge, DLF, IIFL Finance, Tata Motors and more

SUMMARY

• Global tobacco firm British American Tobacco sold a 3.5 percent stake in FMCG ITC to institutional investors.
• Tata Motors inked a Memorandum of Understanding (MoU) with Tamil Nadu government to set up a vehicle manufacturing facility in the state
• IIFL Finance has received board of directors’ nod for raising up to Rs 1,500 crore via the issue of equity shares on a right basis.

The domestic equity market closed lower on Wednesday. Sensex ended 906 pts lower at 72,761 and Nifty lost 338 points to close at 21997. Here’s a look at stocks that are likely to remain in action today.

Tata Motors

The commercial and passenger vehicle manufacturer, inked a Memorandum of Understanding (MoU) with Tamil Nadu government to set up a vehicle manufacturing facility in the state. The MoU involves an investment of around Rs 9,000 crore over 5 years and can potentially create up to 5,000 jobs.

IIFL Finance

The company has received board of directors’ nod for raising up to Rs 1,500 crore via the issue of equity shares on a right basis to its existing eligible shareholders and Rs 500 crore through the issue of non-convertible debentures on a private placement basis.

ITC

Marquee Investors, Government of Singapore, and ICICI Prudential Mutual Fund purchased 9,15,45,678 equity shares and 59,26,138 equity shares in the FMCG company, respectively, via open market transactions. They bought shares at an average price of Rs 400.25 per share, valued at Rs 3,901.3 crore.

Gopal Snacks

The shares of Rajkot-based ethnic and western snacks maker will list on the BSE and NSE on March 14. The final IPO issue price was fixed at Rs 401 per share. Its equity shares will be available for trading in the normal market segment (rolling settlement).

Adani Green Energy

The Adani Group firm’s subsidiary Adani Renewable Energy Fifty Nine Limited inked power purchase agreements (PPAs) with Solar Energy Corporation of India (SECI) for supply of 534 MW of solar power projects. With execution of these PPAs, Adani Green Energy now has a total renewable energy project portfolio of 21,778 MWac capacity.

DLF

DLF Home Developers (DHDL), a wholly owned material subsidiary of the real estate firm, has received board of directors’ nod for raising of funds through issuance of non-convertible debentures (NCDs) worth up to Rs 600 crore on a private placement basis, to the eligible investors.

APL Apollo Tubes

US-based Capital Group via its affiliate New World Fund Inc bought 27,89,398 equity shares in the company via open market transactions at an average price of Rs 1,601.1 per share, amounting to Rs 446.61 crore. On the other hand, Principal Global Investors Collective Investment Trust offloaded 15,31,367 equity shares at an average price of Rs 1,600.16 per share, against its shareholding of 28,77,356 equity shares or 1.04 percent stake as of December 2023.

Coforge

The IT firm’s board of directors will meet on March 16 to consider the raising of funds. Coforge stock opened at ₹6263.75 and closed at ₹6263.35 on the last trading day. The highest price of Coforge recorded during the day was ₹6320.35, while the lowest was ₹6124.15. Coforge ‘s market capitalization stood at ₹38078.0 crore. The Coforge ‘s 52-week high and low for the stock were ₹6840 and ₹3565.2 respectively. The BSE volume for the day was 7894 shares.

Cholamandalam Investment and Finance Company

The company has bought 4.67 acre from DLF IT Offices in Chennai for Rs 735 crore.

Power Mech Projects

The company has incorporated a new wholly owned subsidiary namely PMTS Private Limited. Subsidiary will design & develop technologies, which are required for construction companies and companies in other sectors/ industries including implementation of the ERP & monitoring systems.

L&T Finance Holdings

The NBFC has issued clarification note on news reports stating – L&T Finance has exited the market after a decision taken by the Reserve Bank of India. The company says it continues to offer a range of financial products and services under the brand name L&T Finance and the circular issued by RBI has been misrepresented by a section of the media. In December 2023, it had successfully completed the merger of its subsidiaries, L&T Finance, L&T Infra Credit, and L&T Mutual Fund Trustee with itself. Post the completion of the merger, Certificate of Registration of L&T Finance and L&T Infra Credit were surrendered to RBI and the company is now in the process to change the name to L&T Finance from L&T Finance Holdings after completing the regulatory formalities.

Zydus Lifesciences

Zydus has launched Olaparib, a PARP inhibitor, under the brand name IBYRA in India. The drug will target specific genetic mutations prevalent in certain types of cancers, paving the way for more tailored and effective treatment approach.

Federal Bank

The private sector lender has stopped issuance of new co-branded credit cards. The bank is in the process of rectifying the areas that are deficient and will seek regulatory clearance prior to the resumption of new issuance. The bank will continue to offer credit cards to new and existing customers in the non-co-branded segment and will also continue to service existing customers who currently hold co-branded credit cards issued by the bank.

Cyient

The engineering and technology solutions company has signed a multi-year services agreement with Airbus for cabin and cargo engineering.

Coromandel International

The company has received direction from the Tamil Nadu Pollution Control Board to remit an amount of Rs 5,92,50,888 as environmental compensation due to ammonia gas leakage in the subsea pipeline near shoreside, outside the company’s plant premises at Ennore. The company said there is no material impact on its financials, and the production at the Ennore unit is about 10 percent of the monthly production volume.

Indian Hume Pipe

The joint venture formed between the companies AMR India (AMRIL) and Shoda Constructions (SCPL) has received the work order related to water supply projects and sewerage projects under AMRUT 2.0 from the Government of Telangana. The value of the work order is Rs 1,137.77 crore, and the share of the company in the work order is 20 percent, i.e., Rs 227.55 crore.

PC Jeweller

The State Bank of India (SBI) has accepted the ‘one-time settlement’ proposal submitted by the jewelry company. The company had opted for a one-time settlement to settle the outstanding dues. The terms of the approved one-time settlement include cash and equity components, the release of securities and mortgaged properties, etc.

South Indian Bank

The lender said it would not onboard any fresh customers in its co-branded credit card segment until it fully complies with the regulatory guidelines issued by the Reserve Bank of India. However, the lender will continue to service the existing customers who hold co-branded credit cards.

KEC International

The infrastructure EPC major has secured new orders of Rs 2,257 crore across its various businesses, including transmission and distribution projects in India and the Americas and its first international order for a pipeline laying project. With these orders, its year-to-date order intake has surpassed Rs 16,000 crore.

Sanofi India

The company signed an exclusive distribution and promotion agreement with Emcure Pharmaceuticals for its Cardiovascular products including Cardace, Clexane, Targocid, Lasix, and Lasilactone in India.

DB Realty

The Mumbai-based real estate developer has raised Rs 920.2 crore as the board of directors approved allocation of 3,56,66,675 equity shares to institutional investors at an issue price of Rs 258 per share, which is at a discount of Rs 12.87 per share to the floor price of Rs 270.87 per share.

Shree Karni Fabcom

The company will make its debut on the NSE Emerge on March 14. The issue price is Rs 227 per share. Its equity shares will be available for trading in trade-for-trade surveillance segment (TFTS).

Ruchi Infrastructure

Shantiram Kutumbkam Food Services has bought 15,52,622 equity shares (equivalent to 0.7 percent of paid-up equity) in the company at an average price of Rs 10.5 per share. However, Patanjali Foods, the part of promoter group, sold 15 lakh shares in Ruchi at same price, against its shareholding of 2.72 crore equity shares or 12.37 percent stake as of December 2023.

Koura Fine Diamond Jewelry

The gold and diamond jewelry wholesaler is set to list its equity shares on the BSE SME on March 14. The issue price is Rs 55 per share. The stock will be in trade-for-trade segment for 10 trading days.

Indus Towers

The Board of Directors of the company has approved the appointment of Sarabhjit Singh as the Chief Internal Audit & Assurance Officer and Internal Auditor of the company with effect from March 14.

Indian Terrain Fashions

Venture capital firm Polaris Banyan Holding has bought 2,96,650 equity shares (equivalent to 0.67 percent of paid up equity) in the company at an average price of Rs 78.94 per share. With this, Polaris picked 8,92,880 equity shares or 2 percent stake in the company from last week.

Azad Engineering

The company has signed a 7-year strategic contract valued at $35 Million with the steam power business of GE Vernova for supply of high-complex, rotating airfoils for nuclear, industrial and thermal power industry.

With Thanks Reference to: https://www.businesstoday.in/markets/trending-stocks/story/stocks-to-watch-out-for-today-adani-green-coforge-dlf-iifl-finance-tata-motors-and-more-421389-2024-03-14 and https://www.moneycontrol.com/news/photos/business/stocks/buzzing-stocks-tata-motors-iifl-finance-federal-bank-itc-zydus-lt-finance-holdings-and-others-12455961-9.html and https://mintgenie.livemint.com/news/markets/coforge-share-price-live-blog-for-14-mar-2024-151710383673590