 "Stocks to watch: Vodafone Idea, Patanjali, Juniper Hotel, SJVN, Indus Tower")
Stocks to watch on February 28, 2024: The Sensex and Nifty benchmark indices are looking at a tepid start on Wednesday amid similar trends from global markets. At 7:20 AM, Gift Nifty futures were up 34 points at 22,237.
Asian equities mostly edged lower this morning. While Shanghai Composite, and ASX200 were down 0.07 per cent each, Nikkei, and Hang Seng slipped up to 0.3 per cent.
Overnight in the US, the S&P 500 rose 0.17 per cent, the Nasdaq added 0.37 per cent. The Dow Jones, however, fell 0.25 per cent.
Meanwhile, here are some stocks to watch in today's trade:
New listing: Juniper Hotels will make its debut today. The issue price is fixed at Rs 360. Grey market premium was zero, hinting at a flat listing.
Patanjali Foods: The Supreme Court on Tuesday issued a contempt notice to Patanjali Ayurved and its managing director Acharya Balakrishna for flouting earlier orders and continuing to propagate false and misleading claims about curing diseases with the company’s products. The court has banned Patanjali advertisements with misleading claims. Read
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Vodafone Idea, Indus Tower: Vodafone Idea’s board on Tuesday greenlit plans to raise up to Rs 45,000 crore in equity and debt, and use the funds to expand its 4G coverage, roll out a 5G network, and increase capacity. Read
ICICI Bank: The private sector lender on Tuesday hiked its stake in ICICI Lombard General Insurance by 1.42 per cent. It bought nearly 7 million shares for Rs 1,164 crore.
Titan: The company has executed a pact to buy the balance 0.4 per cent stake in its arm CaratLane. With this, it has fully completed the latter's acquisition.
Axis Bank: The Reserve Bank of India has approved the appointment of Munish Sharda as Executive Director of Axis Bank for three years with effect from February 27.
SJVN: Its wholly-owned subsidiary SJVN Green Energy has commissioned a 100 MW solar power project worth Rs 642 crore in Gujarat. It bagged this project at a tariff of Rs 2.64 per unit through competitive tariff bidding by Gujarat Urja Vikas Nigam and a power purchase agreement for the same has been signed with the latter for 25 years.
Panorama Studios International: The company has executed a pan India distribution agreement with Reliance Industries through its media and entertainment division JIO Studios for the film Shaitan.
Texmaco Rail: The board approved raising up to Rs 150 crore by way of issuance of convertible warrants or by preferential issue to promoters.
GE T&D India: It has won orders worth nearly Rs 370 crore from Power Grid Corporation for supply of 765 kV shunt reactors for the latter's various transmission system projects.
Exide Industries: The company invested Rs 25 crore in its wholly owned subsidiary, Exide Energy Solutions, on a rights basis. The total investment stands at Rs 1,925 crore.
Ritco Logistics: The board will meet on March 4, 2024 to consider and approve a proposal of fundraising.
Uttam Sugar Mills: Its board has approved the acquisition of a majority stake in Uttam Distilleries Limited, making it a subsidiary of the company.
Balkrishna Paper Mills: The board has approved sale of non core assets for Rs 6.16 crore to J. S. Enterprises in UP.
Abhijit Trading: The board will meet on March 2 to consider and approve fund raising via loan of up to Rs 720 crore.
Fiem Industries: The company will trade ex-date for its 1:1 bonus issue today.
Tips Industries: The board will consider a share buyback today.
Punjab and Sind Bank: Its board will consider fund-raise of Rs 2000 crore today.