Stocks to Watch: HCL Tech, Lupin, Fusion Micro Fin, Five-Star, NBCC, PNB

Stocks to Watch Today: Newly listed Fusion Micro Finance and Five-Star Business are likely to be in focus on the back of strong Q2 performance reported by the companies.

Stocks to Watch Today: The key benchmark indices are likely to start trade on a tepid note amid mixed global cues from the overseas markets. While the US markets ended with sharp losses on Monday, this morning Asia held strong gains.

At 07:50 AM, the SGX Nifty futures quoted at 18,669 as against the spot Nifty close of 18,563 on Monday.

Meanwhile, the following stocks are likely to be in focus on Tuesday.

HCL Technologies: The global technology company has signed a multi-year contract with Swiss firm SR Technics for the digital transformation of its business. SR Technics is maintenance, repair, and overhaul (MRO) service provider to civil aviation industry. 

Airlines: Shares of airlines are likely to be in focus on the back of rise in air traffic to near pre-Covid level. The recent weekend saw air traffic cross 400,000 on the two consecutive days on domestic routes, which was a first in the past two-and-a-half years. Domestic airlines carried 409,831 passengers on Sunday – the highest since flights were resumed in May 2020. READ MORE

NBCC: The state-owned construction company has received work orders worth Rs 271.62 crore from the erstwhile realty firm Amrapali Group.

Lupin: The company’s Brazil-based subsidiary MedQuimica has inked a definite agreement to acquire all rights to nine medicines from BL Industria Otica, a subsidiary of Bausch Health Companies.

Mankind Pharma: The drug-maker has acquired a majority stake in Upakarma Ayurveda, engaged in developing, manufacturing and selling ayurvedic and herbal products for an undisclosed amount. 

Five-Star Business Finance: The recently listed company reported 22 per cent jump in Q2FY23 net at Rs 144 crore on quarter-on-quarter basis. The net interest margin came in at 17.6 per cent, and its AUM surged by 24 per cent YoY to Rs 5,732 crore.

Fusion Micro Finance: India’s second largest NBFC-MFI, reported a record quarterly net profit at Rs 95.06 crore for Q2FY23 as against Rs 3.21 crore in the year ago period. Total income soared 69.3 per cent to Rs 452.33 crore. The company’s AUM surged 54.5 per cent YoY to Rs 8,047.28 crore.

PNB: The state-run bank plans to raise up to Rs 4,000 crore through issuance of tier-2 bonds. The latest round of fundraising by banks comes at a time when credit growth has shown sustained momentum even as growth in deposits continues to lag. READ MORE 

Vedanta: Shares of the mining major to trade ex-dividend today. The company had declared a dividend of Rs 17.5 per share.

NDTV: The company’s promoter firm RRPR Holding has transferred shares constituting 99.5 per cent of its equity capital to Adani group-owned Vishvapradhan Commercial (VCPL).

Meanwhile the Adani group’s open offer that began on November 22 has seen shareholders so far tender 5.3 million shares, or 31.78 per cent of the issue size of 16.7 million shares. READ MORE

Coal India: As a result of unprecedented demand for coal, Coal India proposes to reopen 30 discontinued mines having estimated mineable reserves of around 600 million tonnes. Further, the company said it has been given freedom to pass mine closure costs on to consumers, but has not taken any such step yet.

Filatex Fashions: The company is planning a Rs 300 crore capital expenditure over the next 18 months towards installation of another 500 machines to meet the growing demand for its products. The company expects additional revenue generation of up to Rs 400 crore and employment to 1,000 workers through this capex.