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Stocks to watch on February 26, 2024: Equity markets will shift focus to GDP data due this week in both India and the US, along with personal consumption expenditure inflation in the latter. On Monday, Sensex and Nifty indices may begin on a tepid note.
At 7:40 am, the Gift Nifty futures were flat at 22,227 on the IFSC exchange.
In Asia, Japanese Nikkei extended its record-breaking spree. It again scaled a new peak by rising 0.6 per cent. Hang Seng and Kospi dropped 0.3-0.7 per cent. ASX 200 was nearly flat.
US stocks hit fresh highs on Friday closing off those levels. The The S&P 500 inched 0.03 per cent higher, the Dow Jones added 0.16 per cent and the Nasdaq fell 0.28 per cent.
At 7:40 am, the Gift Nifty futures were flat at 22,227 on the IFSC exchange.
In Asia, Japanese Nikkei extended its record-breaking spree. It again scaled a new peak by rising 0.6 per cent. Hang Seng and Kospi dropped 0.3-0.7 per cent. ASX 200 was nearly flat.
US stocks hit fresh highs on Friday closing off those levels. The The S&P 500 inched 0.03 per cent higher, the Dow Jones added 0.16 per cent and the Nasdaq fell 0.28 per cent.
Here are some stocks to watch in today's trade:
Reliance Industries: Walt Disney Co. and Reliance Industries have signed a binding pact to merge their media operations in India, reported Bloomberg. The media unit of Reliance, controlled by billionaire Mukesh Ambani, and its affiliates are expected to own at least 61 per cent in the merged entity, with Disney holding the rest, the report said. Read
HDFC Bank: It has received RBI approval to sell its 90 per cent stake in education loan subsidiary HDFC Credila Financial Services. The stake will be sold to a consortium of private equity firms including BPEA EQT and ChrysCapital Group.
Infibeam Avenues: The company has acquired a 20 per cent strategic stake in XDuce, a US-based AI development company, for $10 million. The latter will support Infibeam's payment gateway brand CCAvenue in the US.
Kotak Mahindra Bank: Zurich Insurance will acquire a 70 per cent stake in the bank’s general insurance arm, Kotak Mahindra General Insurance, for Rs 5,560 crore, in a single tranche. The bank had received CCI nod for the said stake sale this month.
Zee Entertainment: Its board has constituted an independent advisory committee headed by Satish Chandra, a retired judge of Allahabad High Court, to curb erosion of its investor wealth caused in the wake of recent speculations related to new talks on merger with Sony and Sebi finding an accounting fraud.
Paytm: The RBI has asked the National Payments Corporation of India (NPCI) to look into the possibility of migrating Paytm Payments Bank customers using the UPI handle '@paytm' to 4-5 other banks, in order to prevent any disruptions in the payment ecosystem.
JSW Infrastructure: The company has received a letter of award from the VO Chidambaranar Port Authority for mechanisation of the North Cargo Berth-III (NCB-III) to handle dry bulk cargo at the port on a design, build, finance, operate and transfer basis through through the PPP route.
Biocon: The company has issued a corporate guarantee worth $20 million in favour of Mizuho Bank Ltd to secure a term loan facility, on behalf of Biocon Generics, its wholly-owned step-down subsidiary. The corporate guarantee is valid for five years and it will be treated as a contingent liability for the company.
Transformers and Rectifiers: It has been awarded orders worth Rs 232 crores from Power Grid Corporation.
Skipper: The power transmission and distribution company has won an order worth Rs 737 crore from Power Grid Corporation for the supply and construction of a 765 kV transmission line.
GE Power India: The company has received an order from Tata Power worth Rs 6.75 crore for services towards overhaul and other works for turbine generators.
Ashok Leyland: It has acquired a 49.9 per cent stake in TVS Trucks for Rs 25 crore.
Shakti Pumps: The company has received a third work order under the KUSUM-3 scheme, worth Rs 84 crore, from the Haryana Renewable Energy Department for 2,443 pumps.
Indian Oil, ONGC, GAIL, MRPL, HPCL, Oil India: The state-run oil companies have been slapped fines for the third straight quarter, cumulatively for Rs 32.5 lakh, for failing to meet listing norm requirements of having the requisite number of directors on their board.
Punjab & Sind Bank: The Board of the bank will meet on February 28 to consider raising funds up to Rs 2,000 crore.
LIC Housing Finance: Its board will meet on March 7 to consider fundraising.
