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Business News/ Markets / Stock Markets/  Stocks to Watch: Religare, Paytm, Adani Green Energy, Crompton Greaves, NMDC, Nabard
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Stocks to Watch: Religare, Paytm, Adani Green Energy, Crompton Greaves, NMDC, Nabard

Here are a few stocks likely to be in focus on Thursday, February 15:

The NSE F&O ban list for Wednesday, February 15 includes Hindustan Copper, Aditya Birla Fashion & Retail, Ashok Leyland, Aurobindo Pharma, Balrampur Chini Mills, Bandhan Bank, Biocon, Delta Corp, India Cements, Indus Towers, National Aluminium Company, Punjab National Bank, SAIL and Zee Entertainment Enterprises. Photo: AFPPremium
The NSE F&O ban list for Wednesday, February 15 includes Hindustan Copper, Aditya Birla Fashion & Retail, Ashok Leyland, Aurobindo Pharma, Balrampur Chini Mills, Bandhan Bank, Biocon, Delta Corp, India Cements, Indus Towers, National Aluminium Company, Punjab National Bank, SAIL and Zee Entertainment Enterprises. Photo: AFP

Religare Enterprises: The battle for Religare Enterprises has taken a new turn, with the markets regulator seeking the views of its insurance counterpart on REL’s insurance unit issuing hefty stock options to Rashmi Saluja, who chairs both companies. On January 4, the Securities and Exchange Board of India (Sebi) wrote to the Insurance Regulatory and Development Authority of India (Irdai) for its detailed views and comments on the grant of Care Health Insurance Ltd stock options to Saluja. Depending on the outcome of its probe into the issue of the stock options, Sebi will set out the oBSErvations or conditions for approving the Burmans’ open offer, the letter said.

One97 Communication: Paytm's parent company confirmed on Wednesday that it has received notices from the Enforcement Directorate (ED) requesting information on customers who have conducted business with its group companies. The Vijay Shekhar Sharma-led company informed the stock exchanges in a filing that the company has furnished the necessary information and documents to the investigating agency. “The company and its associate have continued to provide such information, documents and explanations to the authorities as is being required by them," said the company. The clarification came a day after Mint reported that the ED has initiated a probe into suspected breaches at Paytm Payments Bank following a referral from the Reserve Bank of India (RBI).

Adani Green Energy: The company is planning to develop a 30 GW renewable energy plant with a colossal plan in Khavda, India. The project is, poised to be the world's largest upon completion, and is expected to generate a staggering ~81 billion units of electricity annually, enough to power 16.1 million homes and prevent a whopping 58 million tonnes of CO2 emissions each year. AGEL plans on expanding its operational portfolio to 9,029 MW and total portfolio to a commanding 20,844 MW, the Company announced on February 14. The company has also operationalised 551 MW of solar capacity in the Khavda RE park, making it the world's second-largest solar photovoltaic (PV) plant currently in operation.

Crompton Greaves Consumer Electricals: The company reported a 3.1% decline in its consolidated net profit to 85.45 crore for the third quarter ended December 2023. It had posted a net profit of 88.19 crore in the December quarter a year ago, Crompton Greaves Consumer Electricals said in a regulatory filing. However, its revenue from operations rose 11.63% to 1,692.69 crore in the quarter under review, compared to 1,516.21 crore in the year-ago period. CGCEL's total expenses increased 12.22% to 1,596.90 crore in the December 2023 quarter. The total consolidated income surged 11.17% to 1,709.36 crore.

Nabard: The national developmental bank reported a 34% YoY rise in net profit at 4,495 crore for the December 2023 quarter, compared to a PAT of 3,345 crore in the year-ago period. The bottom line expansion was led by a margin increase of 18 basis points to 1.53%, a marginal improvement in gross bad loans at 0.27% and zero net Non Performing Assets (NPAs). Total income of the bank rose 25% to 35,503 crore in the quarter from 28,463 crore in the corresponding quarter last year.

NMDC: The state-owned company posted a 62% rise in consolidated net profit at 1,469.73 crore in the December quarter, compared to a net profit of 903.89 crore in the year-ago period, the mining company said in an exchange filing. Its total income surged to 5,746.47 crore over 3,924.75 crore a year ago. NMDC's expenses stood at 3,516.78 crore in the third quarter of the current fiscal as against 2,693.01 crore a year ago. The board of the company also approved an interim dividend of 5.75 per equity share for FY24 and fixed February 27 as the record date for the purpose.

SpiceJet: The troubled low-cost airline has informed the Delhi High Court that it is prepared to return a leased engine to its lessor, Engine Lease Finance BV, in Brussels, Belgium, at its own expense, following failed settlement talks between the two parties. The court has asked both SpiceJet and the lessor to nominate a third-party agency to inspect the engine’s condition before it is flown back to Brussels. It has also ordered that the engine be kept in its current condition for inspection, in accordance with the aircraft engine general agreement. Both sides are yet to nominated a third-party agency for the inspection. This case will next be heard on Monday.

Glenmark Pharmaceuticals: The pharma company reported a standalone loss of 20.40 crore in Q3FY24, compared to 430.53 in the corresponding quarter previous year Q3FY23, the company said in a stock exchange filing. Glenmark's revenues declined 38.4 per cent YoY to 1,304.16 crore, compared to 2,118.99 crore in the corresponding quarter last year. Ebitda stood at 144.4 crore this quarter against 474 crore in the previous corresponding quarter.

BGR Energy Systems: The company's loss widened to 691.38 crore in the December quarter compared to the year-ago period, driven by higher expenses. The consolidated net loss of the company was 59.22 crore in the quarter ended on December 31, 2022, a BSE filing showed. Total expenses rose to 1,031.38 crore in the quarter from 334.29 crore in the same period last fiscal. Total income rose to 472.68 crore in the quarter from 258.02 crore in the same period a year ago.

Gland Pharma: The pharmaceutical company posted consolidated Profit After Tax of 192 crore for the December quarter on Wednesday, compared to a PAT of 232 crore in the year-ago period. Its revenue from operations stood at 1,545 crore for the October-December period, up from 938 in the year ago period.

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ABOUT THE AUTHOR
Pranay Prakash
My experience as a Finance Journalist has involved working as a Web Producer and Sub Editor at a wire agency and business magazine, respectively, where I have curated various domain specific news pages, and later edited long-form, in-depth pieces on everything from India's corporates to the state of the economy, and various sectors. At Mint, I am involved in the editing of market copies and the curation of the live markets blog. Apart from the financial markets, my interest encompass topics related to the economy, the political economy of a growing economy, the space of policy design, and how it affects the wider economy and the decisions of corporates and consumers alike.
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Published: 15 Feb 2024, 07:31 AM IST
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