 "Stocks to watch on March 26: UltraTech, Mankind Pharma, RIL, RVNL, Lupin")
Stocks to Watch on March 26, 2024: Equity benchmark indices Sensex and Nifty are looking at a flat start on Tuesday as indicated by mixed global cues. At 7:10 am, the Gift Nifty futures were down 41 points at 22,124 over Nifty futures’ last close.
Markets in the Asia-Pacific region remained a mixed bag on Tuesday morning, while the US saw all of its three major indices decline, Nikkei in Japan was trading 0.23 per cent higher at 40,506 levels. Similarly, Hong Kong's Hang Seng rose 1.02 per cent. Kospi was up 1.41 per cent while ASX 200 remained rangebound.
Overnight in the US, the Dow Jones and the S&P 500 declined 0.41 per cent and 0.31 per cent, respectively. Meanwhile, the Nasdaq Composite shed 0.27 per cent.
Stocks that may see action today:
UltraTech Cement: The company has added 1 million metric tonnes per annum (MTPA) of brownfield cement capacity at its Uttarakhand unit, bringing the total unit capacity to 2.1 MTPA.
Mankind Pharma: Beige is planning to sell up to a 2.90 percent stake in Mankind Pharma through block deals, reported CNBC TV 18. The offer price is expected to be in the range of Rs 2,103-2,214 per share, representing a discount of 0-5 percent to Friday's closing price. Presently, Beige holds a 2.99 percent stake in Mankind.
RIL: Reliance Industries acquired a 100 per cent stake in MSKVY Nineteenth Solar SPV and MSKVY Twenty-second Solar SPV from MSEB Solar Agro Power.
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ICICI Securities: The company has received a warning from SEBI following an inspection of its books and records related to merchant banking activities.
JSW Energy: The company’s step-down unit has entered into an agreement with Reliance Power to acquire a 45 MW wind power project in Maharashtra for Rs 132 crore.
RVNL: Rail Vikas Nigam has signed an MoU with the Airports Authority of India to construct a subway connecting the operational area to the residential colony in Kolkata, with an estimated cost of Rs 229.43 crore.
Financial Services stocks: IIFL Finance Ltd and JM Financial Products Ltd (JMFPL) are set to undergo a special audit to delve deeper into their regulatory breaches, as the RBI has initiated the process to appoint auditors for this purpose.
Lupin: The pharmaceutical major is set to sell its trade generics businesses in India for Rs 100-120 crore on a slump sale basis.
HAL: Hindustan Aeronautics secured an order worth Rs 194 crore from the Guyana Defence Force.
Sanghi Industries: The company saw promoter Ambuja Cements divest a 2 per cent stake in the company for Rs 258 crore, reducing the promoter's stake to 60.44 per cent.
Medplus Health: The company’s services received a temporary suspension order for two of its stores.
Maruti Suzuki India: The company recalled 11,185 units of the Baleno and 4,190 units of the Wagon R due to a possible fuel pump motor defect. Additionally, it agreed to acquire a 6.44 per cent stake in Amlgo Labs for Rs 1.99 crore.
Eicher Motors: The company established a wholly owned subsidiary in the Netherlands named Royal Enfield Europe BV.