Stocks to Watch today: Airtel, Paytm, LIC, Bajaj Auto, Adani Group, HDFC Bk

Stocks to watch on Monday, February 19, 2024: Shares of Adani group are likely to be in focus as the group is said to be in advanced talks to raise up to $2.6 billion from sovereign funds.

Stocks to Watch on Monday, February 19, 2024: After registering a weekly record close last week, equity benchmark indices are likely to start this week on a rather quiet note tracking mixed cues from global peers.

At 07:30 AM, Gift Nifty futures quoted around 22,114 as against the spot Nifty close of 22,041 on Friday.

In Asia this morning markets displayed mixed trend after China’s central bank left rates untouched on Sunday. Shanghai index was up 1 per cent, and Kospi up 0.9 per cent. Whereas, Hang Seng slipped over 1 per cent, and Nikkei dipped 0.4 per cent. Straits Times and Taiwan hovered around their respective previous day’s close.

Meanwhile, on Friday, the US market ended in red as yields rose on the back of steeper-than-expected rise of 0.3 per cent in US Producer Price Index for January as against 0.1 per cent expectation.

The US 10-year bond yield settled at 4.293 per cent, after touching a high of 4.33 per cent. Brent Crude Oil futures quoted around $83 mark.

Meanwhile, these are the stocks that are likely to be in focus on Monday.

HDFC Bank: Likely to receive inflows of $300 million (Rs 2,500 crore) from passive funds tracking Financial Times Stock Exchange (FTSE) indices. 

Adani group: The Gautaum Adani-led group is said to be in advanced talks with top sovereign funds based in West Asia to raise up to $2.6 billion for its airport expansion and green hydrogen projects.

Bajaj Auto: Fixed February 29 as the record date for proposed Rs 4,000 crore share buyback.

Bharti Airtel: US-based private equity major Carlyle is in talks with Blackstone to sell its 25 per cent stake in Nxtra Data, the data centre subsidiary of Bharti Airtel, at a valuation of Rs 2,500 crore.

Paytm: Founder Vijay Shekhar Sharma’s in a late evening posts on X on Friday citing point 21 of the RBI FAQs stated that the point referred to continuity of business beyond March 15 through QR, soundbox and card machines for Paytm’s merchants whose accounts are linked to banks other than Paytm Payments Bank.

Meanwhile, the parent company One97 Communications has shifted its nodal account to Axis Bank from Paytm Payments Bank to ensure continuity and seamless merchant settlements.

LIC: The state owned insurance giant has received a tax refund of Rs 21, 740.77 crore from the Income Tax Department on February 15, 2024. 

Meanwhile, the employee unions of LIC on Friday rejected the company’s 14 per cent salary hike offer.

Tata Power: Received Letter of Intent from REC Power Development to acquire Jalpura Khurja Power Transmission for consideration of Rs 838 crore.

PB Fintech: The company’s wholly-owned subsidiary, Policybazaar, received the nod from the Insurance Regulatory and Development Authority of India (Irdai) to upgrade its license from a direct insurance broker to a composite insurance broker.

Sula Vineyards: Verlinvest to sell 8.34 per stake via block deal at Rs 570 per share today.

Omaxe: Won an order worth Rs 385 crore for development of bus terminals in Lucknow and Ayodhya.

JSW Steel: The group entities plan to invest about Rs 65,000 crore over time to set up an integrated manufacturing complex in Jagatsinghpur district of Odisha.

Stocks in F&O ban today: Aditya Birla Fashion Retail, Ashok Leyland, Balrampur Chini, Bandhan Bank, Canara Bank, Delta Corp, Hindustan Copper, India Cement, Indus Towers, National Aluminium, SAIL and Zee Entertainment are the 12 stocks in futures & options ban period on Monday.