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Stocks to Watch: Coal India, Cadila, Union Bank, Hero MotoCorp

On Wednesday, the blue-chip NSE Nifty 50 index ended 88.30 points up at 17,415.05 and the benchmark S&P BSE Sensex rose 0.55% to 58,340.99, after rising significantly earlier in the session. (Mint)Premium
On Wednesday, the blue-chip NSE Nifty 50 index ended 88.30 points up at 17,415.05 and the benchmark S&P BSE Sensex rose 0.55% to 58,340.99, after rising significantly earlier in the session. (Mint)

  • Shares of Paytm, SJS Enterprises, Fino Payments Bank and PolicyBazaar were in focus on Wednesday. Sensex and Nifty snapped initial gains, as Auto and IT stocks marked a sharp decline. The market gauges started on a positive note but benchmark indices erased gains and slipped into the negative zone

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Coal India: Coal India Ltd on Wednesday said the company is aiming at investing 40,000-50,000 crore as capital expenditure in the next 4-5 years. The 17,000-crore capex (capital expenditure) for the current fiscal is "on track", CIL chairman Pramod Agrawal told investors. The company said rising costs mean it’s “inevitable" that it will be forced to hike prices of supplies in long-term deals to protect profitability.

IOB: Indian Overseas Bank (IOB) and Central Bank of India today informed the exchanges that there has been no information regarding the reported privatisation of the Banks. The central government will introduce the Banking Laws (Amendment) Bill 2021 in the Winter Session of Parliament. The proposed legislation is among the list of 26 bills that are scheduled to be introduced during the session.

Tata Steel: It has executed a blockchain-enabled paperless export order with a metal major in Bangladesh, making this the first such deal executed between an India-based company and counter party in Bangladesh. Notably, in a global first for the steel industry, Tata Steel had in April 2021 used a blockchain platform pioneered by HSBC to complete a trade finance transaction with a UAE-based company.

JM Financial: JM Financial Products Limited, the flagship NBFC arm of JM Financial Group, on Wednesday announced the launch of, a digital investment platform that offers investors access to an extensive array of debt securities, paving the way for hassle-free investments. will further enhance the bouquet of financial services that JM Financial currently offers.

Union Bank/Capri Global: Capri Global Capital Ltd (CGCL), a non-bank lender focused on small businesses and affordable housing, on Wednesday entered into a co-lending agreement with Union Bank of India. Through this collaboration, CGCL and Union Bank aim to disburse micro, small and medium enterprise (MSME) loans across over 100 touch points in India. The loan disbursement under this arrangement would commence from December 2021.

L&T: Indian multinational conglomerate Larsen & Toubro Ltd (L&T) has signed a memorandum of understanding (MoU) with the government of Tamil Nadu to establish a data centre at Kanchipuram. L&T said it will establish 90 MW capacity data centres and associated units in a phased manner in Kanchipuram over the next five years. The company aims to employ around 1,100 people--600 direct and 500 indirect--in the project.

Cadila Healthcare: Indian pharmaceutical major Cadila Healthcare has entered into an agreement with South Korea's Enzychem Lifesciences for its plasmid DNA vaccine to prevent Covid-19. The deal encompasses manufacturing license and technology for such vaccines. The partnership, which was signed on Wednesday, will result in manufacturing of 80 million doses or more of Covid-19 plasmid DNA vaccine in 2022.

PVR: Multiplex chain PVR Cinemas has partnered with digital service provider UFO Moviez to announce the installation of a cinema-specific air sterilization device called UFO-Wolf AirMask to make theatres a safe experience for audiences who may still be wary of sitting with strangers in closed auditoriums in the wake of the covid-19 pandemic.

Nalco: Shares of State-run National Aluminium Company (Nalco) plunged in Wednesday's trading session, a day ahead of its record date fixed on November 25, 2021 for payment of interim dividend for the financial year 2021-22. The board of directors approved payment of interim dividend at 2 per share (40% on the Face value of Rs. 5/- each) on the paid-up equity share capital of 918.3 crore.

Hero Motocorp: Hero Electric has registered 24,000 retail sales during the 45 days festive period starting from October 1 to November 15 compared to last year sales that stood at 11,339 units. This is more than 100 per cent increase as compared to the sales occurred last year during the same period. The company already has over 4 lakh electric vehicles on the Indian roads. Hero Electric has attributed rising fuel prices and government backed FAME II policy that subsidise the purchase of electric vehicles.

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