 "Stocks to watch: Jio Fin, Vedanta, Info Edge, Asian Paints, Swan Energy")
Stocks to watch on March 4, 2024: Equity benchmark indices Sensex and Nifty are expected to see a flat start on Monday, while cues like increasing GST tax collections in February and positive global cues may lend some strength.
At 7:20 am, the Gift Nifty futures were nearly unchanged at 22,500 levels, hinting at a tepid open.
Positive global threads will also lead the sentiment. Monday morning was pleasantful in Asia as Japan’s Nikkei crossed the 40,000 mark, soaring 0.8 per cent. Similarly, South Korea’s Kospi rose 1.43 per cent.
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The US indices continued their upward trend on Friday as Nasdaq gained 1.14 per cent, the S&P 500 added 0.80 per cent, while the Dow Jones Industrial Average gained 0.23 per cent.
Stocks that may see action today:
Jio Financial Services: In the periodic reconstitution of S&P BSE Indices, Jio Financial Services is the sole addition to the S&P BSE Large Cap, as revealed by the Bombay Stock Exchange.
Vedanta: According to a senior company official, Vedanta Resources, the parent company of the Mumbai-based mining conglomerate Vedanta Limited, intends to reduce up to $3 billion in debt over the next three years, news agency PTI reported.
Info Edge India: The internet company announced that its mobile applications—Naukri jobseeker, Naukrigulf Job Search App, and 99acres Buy/Sell/Rent Property—are now available again on the Google Play Store.
NTPC: The National Thermal Power Corporation on Sunday informed the exchanges that its board has given its nod for Singrauli Super Thermal Power Project, Stage-III (2x800 MW) at an appraised current estimated cost of Rs. 17,195.31 crore.
SJVN: State-owned power producer SJVN on Sunday said its arm SJVN Green Energy has bagged a 200 MW solar project. This project is to be developed by SJVN Green Energy at the tentative development cost of Rs 1,100 crore.
One 97 Communications: Paytm Payments Bank has been fined Rs 5.49 crore by the Financial Intelligence Unit of India for breaching obligations under the Prevention of Money Laundering Act, 2002.
Asian Paints: A new water-based paint manufacturing facility will be established in Madhya Pradesh by Asian Paints, with an annual capacity of 4 lakhs KL. The estimated investment for this facility is Rs 2,000 crore.
Swan Energy: Swan LNG, a subsidiary, has fully repaid its Rs 2,206 crore loan, including interest, to its consortium of banks. The group's external debt, which was Rs 4,128 crore in September, has now reduced to Rs 1,675 crore.
Info Edge India: The internet company announced that its mobile applications—Naukri jobseeker, Naukrigulf Job Search App, and 99acres Buy/Sell/Rent Property—are now available again on the Google Play Store.
MOIL: The state-owned manganese ore mining company achieved its highest-ever February production, reaching 1.51 lakh tonnes of manganese ore, a 15 percent YoY increase. Sales for the same month stood at 1.56 lakh tonnes, an 18 percent rise from the previous year.
KPI Green Energy: The company has signed a power purchase agreement for a 200 MWAC (240 MWp) grid-connected solar photovoltaic power project.
Gujarat Ambuja Exports: The company has inaugurated a 120 TPD liquid glucose unit at its Malda, West Bengal facility. This expansion brings the total liquid glucose capacity to 900 TPD across five locations.
Patel Engineering: The company secured a Letter of Acceptance (LOA) for a Rs 525.36 crore contract in a joint venture for the RCC Protection Wall Project in Khammam City, Telangana. Patel Engineering's share in the contract amounts to Rs 267.93 crore.
Results Today:
Apeejay Surrendra Park Hotels: The company will release its October-December FY24 quarter earnings on March 4. This is the first earnings scorecard by the company after listing on the bourses in February.