Home/ Markets / Stock Markets/  Stocks to Watch: Adani Enterprises, RIL, Tata Power, Vedanta, IDBI Bank, NTPC

Stocks to Watch: Adani Enterprises, RIL, Tata Power, Vedanta, IDBI Bank, NTPC

Indian markets recorded a broad-based selloff on Tuesday as the focus shifted toward the upcoming RBI policy. Smallcap stocks continue to see a downward slope, while auto and IT stocks extended their losses. Also, bears held the grip of the market amidst a drop in investors' risk appetite and FY23 tax harvesting

Stocks to Watch for Wednesday (Photo: HT)Premium
Stocks to Watch for Wednesday (Photo: HT)

Here is the list of the top 10 stocks that will be in focus today:

Adani Enterprises: The stock exchange has sought clarification from Adani Group's flagship entity, Adani Enterprises Ltd with reference to a report, which raised questions about whether the empire has actually repaid debts worth $2.15 billion. Shares of Adani Enterprises dived nearly 8 per cent to a near four-week low, while Adani Ports tumbled 9.2 per cent. "Despite the Adani Group's claim of “complete" repayment of $2.15 billion in share-backed debt, regulatory filings show that banks have not released a significant portion of the promoters' shares held as collateral, indicating that the debt has not been fully paid off," the Ken report said.

RIL/Tata Power: Reliance Industries Ltd, Tata Power Solar, and ReNew are among the companies chosen to receive 14,007 crore worth of government incentives to encourage the local manufacturing of solar modules under its production-linked incentive scheme. Overall, Solar Energy Corp. of India, the state-run company set up to implement the National Solar Mission, has allocated 38,600MW of capacity to 11 companies. A power ministry statement said that manufacturing capacity totalling 7,400MW is expected to become operational by October 2024, while 16,800MW capacity would be ready by April 2025.

Vedanta: Mining mogul Anil Agarwal's Vedanta Ltd on Tuesday declared its fifth interim dividend of 20.50 per equity share or 2050 per cent for the financial year 2022-23, amounting to 7,621 crore. The company has fixed 7 April, 2023, as the dividend record date. “Approved the fifth interim dividend of 20.50 per equity share i.e., 2050% on the face value of 1/‐ per share for the financial year 2022‐23 amounting to 7,621 crores," the company said in a regulatory filing. The interim dividend will be paid within stipulated timelines as prescribed under the law, the exchange filing further noted.

IDBI Bank: IDBI Bank on Tuesday announced that it has appointed Smita Harish Kuber as the bank’s chief financial officer (CFO) and key managerial personnel with effect from 01 April, 2023. The bank said Smita Harish Kuber was appointed as CFO in place of P. Sitaram, ED & CFO, who will retire on attaining superannuation on 31 March 2023, according to the regulatory filing. Meanwhile, IDBI Bank also informed that Samuel Joseph Jebaraj, Deputy Managing Director, IDBI Bank has resigned from his position. The resignation will come into effect from 05 April, 2023.

NTPC: State-owned NTPC Renewable Energy will supply 1,300 MW of round-the-clock clean power to Greenko’s upcoming green ammonia plant at Kakinada. NTPC Renewable Energy Ltd, a wholly-owned subsidiary of NTPC Green Energy Limited, has signed a term sheet with Greenko ZeroC Pvt Ltd (A Greenko Group company) on March 28, 2023, to supply 1,300 MW round-the-clock RE Power for powering Greenko’s upcoming green ammonia plant at Kakinada, a statement said. The agreement between the two companies is one of the world's single largest contracts for the supply of round-the-clock renewable supply for an industrial client, it noted.

Britannia Industries: For the financial year ended March 2022 or FY22, Britannia Industries has declared a dividend of 5650.00% at a face value of 1 amounting to 56.5 per share. The dividend yield goes to 1.35% at the current market price of 4,192.50. In the last 5 years, the company has consistently paid dividends to its shareholders and as per the data of Trendlyne, Britannia has declared 24 dividends since July 2, 2001.

Jindal Stainless: Jindal Stainless Ltd (JSL) has picked up a 49% stake in Indonesian metals company, New Yaking Pte. Ltd, for about $157 million ( 1,233 crore), it said in a statement on Tuesday. The joint venture will allow JSL to invest, develop, construct and operate a nickel pig iron (NPI) smelter facility located in an industrial park in Halmahera Islands, Indonesia. The unit is likely to be commissioned within two years, with an annual nameplate production capacity of 200,000 metric tonnes, with an average of 14% Ni Content, JSL added.

Kalyan Jewellers: Highdell Investment, owned by private equity major Warburg Pincus, on Tuesday, divested a stake in Kalyan Jewellers India Ltd. for little over 256 crore through an open market transaction. According to the bulk data on NSE, Highdell Investment sold a total of 2,33,25,686 shares of Kalyan Jewellers at a price of 110.04 apiece thus taking the transaction value to 256.67 crore, as per the data. However, the buyer of the shares could not be ascertained immediately.

JSW Energy: JSW Energy on Tuesday said its subsidiary has agreed to acquire the entire equity of 12 special purpose vehicles of Mytrah Energy (India) Pvt Ltd (MEIPL). In August 2022, JSW Neo Energy Ltd (JSWNEL) had agreed to acquire a portfolio of 1,753 MW of renewable energy generation capacity from MEIPL comprising 17 SPVs and 1 Ancillary SPV (Transaction). JSWNEL has now agreed to acquire the entire shareholding of additional 12 MEIPL special purpose vehicles (SPVs) within the already agreed consideration approved by the board, a BSE filing stated.

Varun Beverages: For the year ending December 2022 Varun Beverages has declared an equity dividend of 35.00% at a face value of 10 which is equivalent to 3.5 per share. At the current share price of 1,353, this generates a dividend yield of 0.25%. The firm has a strong dividend track report and has routinely paid dividends for the previous 5 years. According to Trendlyne statistics, Varun Beverages Ltd. has issued 6 dividends since August 16, 2017, and during the last 12 months, an equity dividend of 2.50 per share has been announced

Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 29 Mar 2023, 07:22 AM IST
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Get alerts on WhatsApp
Set Preferences My Reads Watchlist Feedback Redeem a Gift Card Logout