 "BSE, stock market, Stocks")
Stocks to watch on March 1, 2024: Equity benchmark indices Sensex and Nifty are looking to start with small gains on Friday as investors will react to the Q3 GDP data.
At 7:30 am, the Gift Nifty futures were up 38 points at 22,198 over Nifty futures’ last close.
Positive global cues will also guide sentiment. In Asia this morning, Nikkei led gains, up 1.3 per cent. Hang Seng and Kospi dropped up to 0.7 per cent.
US indices gained after PCE inflation rose 0.3 per cent on a monthly basis, in line with expectations. Nasdaq rose 1 per cent. The Dow and S&P 500 rose 0.52 per cent and 0.12 per cent, respectively.
Stocks that may see action today:
Paytm, Yes Bank: Paytm has likely signed a deal to move its merchant accounts to Yes Bank, reported NDTV Profit. Paytm has also likely applied for a third-party application provider licence from NPCI with Yes Bank and Axis Bank, the report said.
L&T: It has commissioned its first hydrogen electrolyser at the green hydrogen plant at Hazira, Gujarat.
Tata Group stocks: The Union Cabinet has approved Rs 1.26 trillion worth of investments in three semiconductor plants, including a Tata group proposal to build the country’s first major chip fabrication facility at Dholera in Gujarat.
It also cleared a separate Tata proposal for a chip assembly plant in Morigaon, Assam, and another by CG Power in Sanand, Gujarat. The work on all three projects is expected to begin in the next 100 days. Read
CG Power And Industrial Solutions: The company will invest Rs 7,600 crore to set up a semiconductor unit in Gujarat in partnership with Renesas Electronics Corp.
Tips Industries: Warner Music has announced it has expanded its agreement with Tips Industries. The new deal will now see Warner Music take on the commercial and distribution responsibilities for all Tips Music’s frontline and catalogue music on all audio streaming apps.
Auto stocks: Auto shares will be in focus ahead of February sales.
Bharti Airtel: Sunil Mittal has set a target of achieving a Rs 300 average revenue per user (ARPU) by the end of the fiscal year 2024-25 (FY25), he told CNBC-TV18. He also said users will not pay anything extra for 5G.
Vedanta: The Supreme Court on Thursday dismissed a plea by the Vedanta Group to reopen its copper smelter plant in Tamil Nadu’s Thoothukudi, citing “serious violations and repeated breaches.”
Suven Pharma: Its board has approved the amalgamation scheme of Cohance Lifesciences with Suven, creating one of India's largest integrated contract development and manufacturing organisation (CDMO) players. Read
Biocon: Biocon arm Biocon Biologics has signed a settlement and license agreement with Janssen Biotech Inc, and Johnson & Johnson (collectively Janssen) that clears the path to commercialise Bmab 1200, a proposed biosimilar to Stelara in the US.
RIL, ONGC, Oil India: The government hiked its windfall tax on petroleum crude to Rs 4,600 per ton from Rs 3,300 with effect from March 1. Windfall tax on diesel has been cut to zero from 1.50 per litre.
Dilip Buildcon: The company’s unit has won an order worth Rs 1,955 crore from the NHAI.
Avantel: It has bagged an order worth Rs 5.48 crore from Garden Reach Shipbuilders.
