Stocks to Watch: Zomato, Eicher Motors, IndiGo, HDFC Bank, Dhani Services

Auto stocks too could be in limelight as the government shortlisted 75 firms under its PLI scheme for the sector.

The key benchmark indices are likely to start trade on a optimistic note tracking cues from the US markets. As of 07:10 AM, the SGX Nifty March futures quoted at 16,890 – indicating a gap-up of more than 200 points to the NSE Nifty 50 benchmark back home. Meanwhile, here are the stocks to focus in trade on Wednesday. 

Zomato: The food-delivery giant and online grocery firm Blinkit (formerly Grofers) are in talks for a merger deal. According to sources, a share-swap deal in which Blinkit would be valued at around $750-800 million is under discussion. READ MORE

Dish Tv, Yes Bank: In an exclusive interview with Business Standard, Essel Group patriarch Subhash Chandra said Yes Bank should decide its role as a shareholder of Dish TV India or a lender so that the group can accordingly take steps to settle the pending issues with it. READ FULL INTERVIEW

HDFC Bank: With the banking regulator lifting restrictions on HDFC Bank’s digital initiatives, the largest private sector lender is now girding up to launch a clutch of customer-facing applications (apps), which will act as stepping stones in its journey to morph into a technology (tech)-led bank from a conventional one. READ MORE

Future Retail: With Future Retail and Amazon failing to resolve disputes, lenders will begin legal action to secure their interest with an option to approach the National Company Law Tribunal (NCLT). READ MORE

Dhani Services: Gagan Banga, MD & CEO of Indiabulls Housing Finance has stepped down from the board of Dhani Services, formerly known as Indiabulls Consumer Finance, to focus full time in the affairs of the mortgage lender, Indiabulls Housing Finance. Apart from Dhani Services, Banga also stepped down from Dhani Loans and Services and Indiabulls Distribution Services with effect from March 14. 

IndiGo: The low-cost airline said it started flights between India and Thailand from Tuesday onwards after a span of two years. Thailand opened its borders nearly two years after it restricted entry for tourists in March 2020, the airline's statement noted. READ MORE

Oberoi Realty: The real-estate company topped Mumbai’s ranking of the top-20 developers in terms of sales in 2021. The Runwal group which took the top slot in 2020 was down to third place in 2021. The more well-known Godrej Properties fell far behind and failed to make it into the top 10; it was ranked in 12th place. READ MORE

Paytm: Japanese investment bank Softbank representative on Indian fintech firms Paytm and Policybazaar, Munish Verma is stepping down from the companies’ boards, accordingly to sources. The decision to step down from the boards of listed company is part of Softbank’s global strategy to not be on boards of listed companies. 

Auto stocks: Major automotive (auto) component manufacturers and automakers on Tuesday were shortlisted by the government for incentives under the production-linked incentive (PLI) scheme for the sector. The list had 75 firms including the likes of Maruti Suzuki, Bharat Forge, Hero MotoCorp,, Bosch India, Ola Electric and BHEL among others. The government expects these 75 companies to invest close to Rs 29,834 crore under the Component Champion Incentive scheme. READ MORE

Eicher Motors: The company’s premium brand Royal Enfield on Tuesday launched its new bike model Scram 411 with introductory prices starting at Rs 2.03 lakh (ex-showroom Chennai).  While it will be available immediately in India, the Scram 411 will make its debut in Europe and Asia-Pacific markets by the middle of this year, Royal Enfield said.

REC: The company has scheduled its board meeting on March 21 to consider a proposal for approval of market borrowing programme of the company for FY22-23. 

Stocks in F&O ban: Balrampur Chini is the only stock in the F&O ban period on Wednesday.