Stocks to Watch: Power Grid, HDFC, Mahanagar Gas, Naukri, IEX, Zydus Life

Stocks to Watch: Mahanagar Gas has entered into a pact to acquire Unison Enviro, a subsidiary of Ashoka Buildcon, for Rs 531 crore

Equity benchmark indices may open with nominal gains on Monday as global peers march forward. As indicated by the SGX Nifty, which was quoting at 17,700 levels, the Nifty index may open around 50 points higher. 

Wall Street closed with firm gains on Friday. The Dow Jones, Nasdaq Composite and S&P 500 indices ended 1-2 per cent higher. 

Asia-Pacific markets were mixed this morning. Nikkei index rose over 1 per cent, Kospi 0.5 per cent while Hang Seng, Straits Times, Shenzhen indices were fractionally lower. 

Meanwhile, here are some stocks to watch out in trade today: 

Reliance Industries: RIL, US-based First Solar and Shirdi Sai have bid for end-to-end polysilicon wafer cells modules (PWCM) manufacturing for a total of 15.4 gigawatt (Gw) under the second tranche of the production linked incentive (PLI) scheme for solar equipment manufacturing. READ

Power Grid: The power transmission utility has been declared as a successful bidder to establish inter-state transmission system for two projects on build, own operate and transfer (BOOT) basis, in Chhattisgarh. The company has received letters of intent for two projects on March 2.

Zydus Lifesciences: The company has received the final approval from the US FDA to market Vigabatrin for Oral Solution USP, 500 mg. 

HFDC: The National Company Law Tribunal (NCLT) has given approval for the amalgamation of HDFC Property Ventures and HDFC Venture Capital with HDFC Capital Advisors, a subsidiary of HDFC.
 

Indian Energy Exchange: Total volumes for February came in at 8,200 MU. Real-time market volumes rose 10 per cent YoY to 1,714 MU.

Mahanagar Gas: The company has entered into a pact to acquire Unison Enviro, a subsidiary of Ashoka Buildcon, for Rs 531 crore.

Kansai Nerolac: The company has approved acquisition of shares (40 per cent of the total shareholding) of Nerofix from Polygel. Consequent to the said acquisition of shares, Nerofix Private Limited will become a wholly owned subsidiary of Kansai Nerolac Paints.

Info Edge: The company's arm Redstart Labs will invest about Rs.5.2 crore in Sploot. Sploot is engaged in the business of providing products and services to pet parents with respect to the pet’s health, behaviour and nutrition through content and app-based help.

Force Motors: The company has announced the production of 2,259 vehicles for February 2023, down 6.4 per cent compared to 2,413 vehicles in January. Domestic sales grew 9 per cent MoM to 2,236 vehicles, but exports fell 45 per cent to 221 vehicles in the same period. 

Easy Trip Planners: The company and State Government of Andhra Pradesh have signed a MoU for promotion of tourism in the state.

Linde India: The company has invested a sum of Rs 7.69 crore in FPEL Surya Private Limited towards subscription of 26 per cent stake. The objective of stake acquisition is to purchase renewable power under captive mechanism, which will result in a lower tariff and consequent cost savings.

Hindustan Aeronautics: The company has received Income Tax refund order from Office of Joint Commissioner of IT for Assessment Year 2012-13, pursuant to the direction of ITAT, Bangalore. ITAT allows R&D expenditure of Rs 725.98 crore as capital expenditure, resulting in refund of Rs 570.05 crore. This refund includes interest of Rs 163.68 crore.

Elgi Equipments: The company has formed a wholly owned subsidiary company in the name “Elgi Compressors Vietnam LLC”, in Vietnam and has received the Enterprise Registration Certificate dated March 1, 2023 on March 3, 2023.

Satin Creditcare Network: Company Completes the Merger of the Wholly Owned Subsidiaries in MSME and Business Correspondent Services The Business Correspondent subsidiary, Taraashna Financial Services Limited merges with MSME arm Satin Finserv.

Gyscoal Alloys: The board meeting will be held on March 9 to approve Preferential Issue of shares and warrants. 

Orchid Pharma: The company and its subsidiary Orchid Bio Pharma has entered into a Memorandum of Understanding (MoU) with an overseas technology provider for in-licensing 7ACA technology. In July 2022, Orchid-Bio Pharma got approval under the production linked incentive (PLI) Scheme for manufacturing of product '7 ACA'.

PNC Infratech: The company has received a ‘provisional certificate' for national highway project of National Highways Authority of India, implemented by its subsidiary PNC Triveni Sangam Highways, from Independent Engineer (SA Infrastructure Consultants). The appointed date for the project was January 12, 2019 with 910 days scheduled construction period and 15 years operation period, post completion. 

ITC: The company has incorporated a new wholly owned subsidiary in the name of ‘ITC Fibre Innovations Limited’ on 3rd March, 2023. The initial subscribed share capital of the said company would be 1 lakh

Bajaj Electricals: The company has bagged orders worth Rs 564.87 crore for supply of goods & services to South Bihar Power Distribution Company.