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Business News/ Markets / Stock Markets/  Stocks to Watch: Tata Motors, IIFL Finance, Jindal Stainless, Macrotech Developers, AU Small Finance Bank

Stocks to Watch: Tata Motors, IIFL Finance, Jindal Stainless, Macrotech Developers, AU Small Finance Bank

Here are a few stocks likely to be in focus on Tuesday, March 5:

The NSE F&O ban list for Tuesday, March 5, includes Zee Entertainment Enterprises. (Photo: Mint)Premium
The NSE F&O ban list for Tuesday, March 5, includes Zee Entertainment Enterprises. (Photo: Mint)

Tata Motors: The leading Indian automaker has announced its decision to separate its commercial and passenger vehicles businesses into distinct listed entities. This strategic move is designed to unlock potential value and reflects the company's confidence in the future of both sectors. The commercial vehicles (CV) division of Tata Motors, which manufactures trucks, vans, and buses, will operate separately from the passenger vehicles (PV) division that produces cars, SUVs, and electric vehicles (EV). The PV division also encompasses Jaguar Land-Rover (JLR), a British luxury car manufacturer that contributes over 80% of its revenue.

IIFL Finance: On Monday, the Reserve Bank of India (RBI) instructed IIFL Finance to cease the distribution of gold loans due to "significant supervisory concerns" identified in the non-banking financial company's gold loan portfolio. The central bank highlighted that these lapses, which include regulatory breaches, negatively affect customer interests. The RBI had conducted an examination of the company's financial status as of 31 March 2023. The RBI discovered "grave discrepancies" in the evaluation and certification of gold used as security for loans and during auctions in case of default during this inspection.

Jindal Stainless Steel: The steelmaker's green hydrogen initiative is in line with the government's commitment to a greener and more sustainable future, and it will serve as a model for other industry participants to adopt clean technologies, said Jyotiraditya Scindia, the Union Minister for Aviation and Steel, on Monday. His remarks came at the launch of India's inaugural green hydrogen facility in the stainless-steel industry, established by Jindal Stainless Steel. The green hydrogen facility in Hisar, set to revolutionize steel production sustainability, was set up by JSL under a 25-year agreement with Hygenco Green Energies Private Ltd.

Macrotech Developers: Prominent real estate firm Macrotech Developers has launched a Qualified Institutional Placement (QIP) to raise approximately $400 million, according to multiple informed industry sources, reported Moneycontrol. The funds raised will be allocated towards land acquisition and debt repayment, said one of the sources. The launch of the deal was also confirmed by a second source.

Maruti Suzuki India: The carmaker is preparing for a significant SUV drive, with at least six out of every ten new models slated for launch over the next three years starting FY25 being SUVs. This move underscores the Japanese automaker's intent to intensify its focus on SUVs in response to a swift shift in consumer preference. The upcoming launches will bolster the model portfolio of the manufacturer of Grand Vitara and Brezza SUVs to approximately 30, according to insiders familiar with the company's plans. 

AU Small Finance Bank: On March 4, the Reserve Bank of India (RBI) announced its approval for the Amalgamation Scheme between Fincare Small Finance Bank and AU Small Finance Bank Ltd. The merger will officially take effect from April 01, 2024, RBI said. Post the merger date, all existing branches of Fincare Small Finance Bank Ltd will operate as branches of AU Small Finance Bank Ltd. The merger had already been approved by the Competition Commission of India (CCI) on January 23.

Jai Balaji Industries: A rare success story in the iron and steel sector, Jai Balaji Industries, has been added to several indices of the National Stock Exchange. The company has now entered the Nifty 500, Nifty 500 Multicap 50:25:25, Nifty SmallCap 250, and NSE Mid and Small Cap index. These inclusions will take effect from March 28. The company was also added to the MSCI Smallcap Index in November of the previous year. Following its inclusion in the MSCI index, the institutional holding in the company increased from 0.67 per cent as of September 30, 2023, to 2.57 per cent by the end of December.

Apeejay Surrendra Park Hotels: On March 4, the company announced a 46% increase in its consolidated net profit, reaching 27.42 crore for the third quarter ending December 31, 2023. In the corresponding quarter of the previous fiscal year, the company had reported a consolidated net profit of 18.77 crore. The company's total income for the reviewed quarter was 163.61 crore, compared to 142.64 crore in the same period the previous year. However, total expenses for the quarter also rose to 102.99 crore from 89.74 crore a year ago.

Angel One: The brokerage firm announced a 4.9% month-on-month and 60.8% year-on-year increase in its client base in February. The client base was 2.14 crore at the end of February, compared to 2.04 crore at the end of January and 1.33 crore at the end of February 2023. The firm's gross client acquisition for the month was 10.1 lakh, a decrease of 1.7% from 10.3 lakh in January, but a significant increase of 126.80% year-on-year from 4.5 lakh in the same month last year.

Brigade Enterprises: The real estate developer based in Bengaluru has initiated the Dioro project at Brigade El Dorado spanning approximately 6.1 million square feet and is projected to generate revenue of 380 crore.

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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: 05 Mar 2024, 07:23 AM IST
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