Stocks to watch: Tata Motors, M&M, IIFL Fin, NTPC, AU SFB, Godrej Agrovet

Stocks to track on 05, March 2024: The Reserve Bank of India has approved the amalgamation of Fincare Small Finance Bank with Jaipur-based AU Small Finance Bank

Over a flattish Monday, the Equity benchmark indices Sensex and Nifty are looking at a muted head start on Tuesday as well as investors will track weakening global markets. 

At 7:00 am, the Gift Nifty futures were down 11 points at 22,487.50 over Nifty futures’ last close. 

Investors today may pick on negative global cues in the Asian as well as in the US market. In Asia this morning, Nikkei slipped below the 40,000 mark that it hit on Monday, the index fell by 0.34 per cent, while the Topix dropped by 0.3 per cent. 

South Korea's Kospi fell by 0.26 per cent, and the small-cap Kosdaq dropped by 0.52 per cent. Hong Kong's Hang Seng index futures at 16,368 also indicate a weaker opening compared to the HSI's close at 16,595.97.

In the US, the S&P 500 declined by 0.12 per cent, the Nasdaq Composite slipped by 0.41 per cent, and the Dow Jones Industrial Average lost 0.25 per cent.

The Street will also see two new stock debuts. Exicom Tele Systems and Platinum Industries will get listed against their issue prices of Rs 142 and Rs 171, respectively.

Stocks that may see action today: 

Tata Motors: Tata Motors Ltd. has given the green light to a plan to divide the company into two distinct listed entities, one focusing on passenger vehicles and the other on commercial vehicles.

M&M: Mahindra & Mahindra is set to receive another round of incentives as they take the lead in getting benefits under the government’s production-linked incentive (PLI) programme. Read more

IIFL Finance: The Reserve Bank of India (RBI) on Monday debarred IIFL Finance, a non-banking financial company (NBFC), from sanctioning and disbursing fresh gold loans following “material supervisory concerns” and to protect the interests of customers with immediate effect.

Macrotech Developers: The company has initiated a qualified institutional placement (QIP) to raise Rs 3,300 crore.

NTPC: NTPC Green Energy Limited has entered into a joint venture agreement with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited to collaboratively develop renewable power parks and projects in the state of Uttar Pradesh.

AU Small Finance Bank: The Reserve Bank of India has approved the amalgamation of Fincare Small Finance Bank with Jaipur-based AU Small Finance Bank, effective from April 1, 2024, creating an entity with a balance sheet of over Rs 1.16 trillion.

Godrej Agrovet: The promoters of Godrej Tyson Foods are in talks with potential investors, including private equity (PE) companies, to sell a minority stake in the company, according to a banking source close to the development.

Biocon Biologics: Biocon Biologics, a subsidiary of Biocon, on Monday officially announced a settlement with Bayer and Regeneron Pharmaceuticals. This agreement allows Biocon Biologics to launch Yesafili, a proposed biosimilar to EYLEA (aflibercept) Injection, in the Canadian market.

Cadila Pharma: Cadila Pharmaceuticals, on Monday announced the launch of a new influenza vaccine called Cadiflu Tetra.

Jio Financial Services: Two promoters of Jio Financial Services Ltd. are set to acquire 14 crore shares of the subsidiary. Sikka Ports and Terminals Ltd. and Jamnagar Utilities and Power Pvt. will collectively acquire a 2.2% stake in Reliance Industries Holding Pvt. 

LTIMindtree: The company’s product division, Fosfor, has introduced the Fosfor Decision Cloud.

NBCC: The company’s unit secured an order valued at Rs 92 crore from the Post Graduate Institute of Medical Education and Research in Chandigarh.