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Business News/ Markets / Stock Markets/  Stocks to Watch: RIL, Hero Moto, Adani Group, Wipro, HFCL, L&T

Stocks to Watch: RIL, Hero Moto, Adani Group, Wipro, HFCL, L&T

Markets will open on Friday after a one-day holiday. Benchmark indices Sensex and Nifty surged on Wednesday as easing worries about the global banking crisis brought back risk-taking and led to a broad-based gain among all sectors, while a rebound in the Adani Group stocks helped sentiment.

Stocks to Watch for Friday (iStock)Premium
Stocks to Watch for Friday (iStock)

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

Reliance Industries: Mukesh Ambani-owned Reliance Industries (RIL), has completed the acquisition of nine-decade-old Sintex Industries Ltd. by infusing 1,500 crore in the Ahmedabad-based yarn and fabric manufacturer, which is more widely known in the country for manufacturing black plastic water tanks. RIL's investment is part of a resolution plan that was submitted jointly by the conglomerate and Assets Care & Reconstruction Enterprise Limited (ACRE) after Sintex was taken to the insolvency court for defaulting on loan repayments in 2020.

Hero MotoCorp: Hero MotoCorp, India’s largest manufacturer of two-wheelers, on Thursday promoted Niranjan Gupta as its chief executive officer, effective 1 May. Gupta is currently the company’s chief financial officer (CFO) and head of strategy and mergers and acquisitions. Pawan Munjal will continue as executive chairman and a whole-time director on the board. Gupta is currently the company’s chief financial officer (CFO) and head of strategy and mergers and acquisitions. Pawan Munjal will continue as executive chairman and a whole-time director on the board.

Adani Group: Adani Group executives met US investors, including from BlackRock Inc., Blackstone Inc. and Pacific Investment Management Co., as part of its plans to market privately placed bonds for some of its group companies, according to people familiar with the matter. The conglomerate led by billionaire Gautam Adani is aiming to raise up to $1 billion in two tranches this year via such a route, said the people, who declined to be named as they were not authorized to speak about it.

Wipro: IT-giant Wipro on Thursday announced that Badri Srinivasan will lead the India and Southeast Asia businesses under the company’s APMEA Strategic Market Unit. Badri joined Wipro in January last year as the Managing Director for Southeast Asia. As the lead of India and Southeast Asia businesses, Badri will be taking over the leadership of these two regions to drive deeper synergies, facilitate sharing of best practices, deliver consistent and exceptional client experiences across the client journey, and scale Wipro’s ability to capitalize on the emerging growth opportunities.

HFCL: Telecom gear maker HFCL on Wednesday said it bagged a 282.61 crore contract from Gujarat Metro Rail Corporation to deploy communication systems for Surat Metro Rail Project Phase-1. The company has to deploy the project within 90 weeks from the date of contract. "..the company has bagged an order worth 282.61 crore from Gujarat Metro Rail Corporation (GMRC) Limited, for design, manufacture, supply, installation, testing and commissioning of telecommunication systems for Surat Metro Rail Project Phase-I," the company said in a regulatory filing.

L&T: Two orders worth between 2,500 and 5,000 crore have been placed with the Vedanta Group by the Larsen & Toubro (L&T) Minerals & Metals (M&M) Business. For Bharat Aluminium Company Limited and Hindustan Zinc Limited, respectively, the order has been secured to build a 5 LTPA fertiliser plant and increase the capacity of the BALCO Korba, Chhattisgarh, Aluminum Smelter Complex by 435 KTPA, respectively. L&T Construction said in a stock exchange filing that it secured orders for “Setting up a 5 LTPA Fertiliser Plant for M/s. Hindustan Zinc Limited (a Vedanta Group Subsidiary).

JSW Energy: JSW Energy on Wednesday said it has completed the acquisition of 1,753 MW of renewable energy assets from Mytrah Energy (India) Private Limited (MEIPL) for over 10,000 crore. "The transaction values the Mytrah Energy portfolio at an enterprise valuation of approximately 10,150 crore after adjusting for net current assets and other adjustments under the share purchase agreements," JSW Energy said in a statement. JSW Neo Energy Limited (JSW Neo), a wholly-owned subsidiary of JSW Energy Limited, in a two-step process has completed the acquisition of 1,753 MW of renewable energy assets from Mytrah Energy, it added.

Tilaknagar Industries: Alcoholic beverages company Tilaknagar Industries Ltd., on Wednesday said it will invest 9.75 crore in Spaceman Spirits Lab Private Limited which markets craft gin under the Samsara brand. Post the investment, the company shall hold 10% of the issued and paid-up share capital in SSLPL on a fully diluted basis. The investment will be made in two tranches, Tilaknagar Industries said in a filing to the exchanges on Wednesday. The investment marks TIL’s entry into the premium craft gin segment.

Max Financial Services: Max Ventures Investment Holdings, promoter of Max Financial Services, on Wednesday offloaded 30 lakh shares of the company for 182 crore through an open market transaction. The shares were purchased by Plutus Wealth Management LLP. According to the block deal data available with the BSE, Max Ventures Investment Holdings sold 30 lakh shares of Max Financial Services. The shares were sold at an average price of 606.6 per scrip, taking the aggregate value of the transaction to 182 crore.

Quess Corp: Quess Corp on Wednesday said that Fairfax Capital Mauritius Limited, which is also the promoter in the company has acquired a 4.45% stake in the company. Fairfax Capital Mauritius Limited has acquired the stake in Quess Corp via the reverse book-building process. It purchased 66,00,000 i.e., 4.45 per cent of equity shares. With this, Fairfax's overall holding in Quess Corp stands at 34.06 per cent from the earlier 29.61 per cent.

Alembic Pharma: Alembic Pharmaceuticals on Thursday said it has received approval from the US health regulator to market a generic product, used to treat high fluid pressure in the eye, in the US market. The company has received final approval from the US Food & Drug Administration (USFDA) to market Brimonidine Tartrate Ophthalmic Solution, Alembic Pharmaceuticals said in a statement. The approved product is therapeutically equivalent to AbbVie Inc's Alphagan P Ophthalmic Solution.

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Published: 31 Mar 2023, 07:20 AM IST
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