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Business News/ Markets / Stock Markets/  Stocks to Watch: TCS, NTPC, IDBI Bank, Adani Enterprises, ZEE Entertainment

Stocks to Watch: TCS, NTPC, IDBI Bank, Adani Enterprises, ZEE Entertainment

  • Indiabulls Housing Finance and GNFC are in the F&O ban list for 16 March. Securities banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit

Indian equities snapped a 5-day losing streak on Thursday, with Sensex up 78.94 points at 57,634.84, and Nifty climbing 13.40 points to end the day at 16,985.6.

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

Tata Consultancy Services: The IT services major has named K. Krithivasan as chief executive after Rajesh Gopinathan unexpectedly resigned. On Thursday, TCS told exchanges that Gopinathan had resigned. The move will be effective 15 September, making Gopinathan’s six-year tenure the shortest in the company’s history.

NTPC: Malaysia's Petronas has offered 38 billion rupees to buy a 20% stake in the green energy arm of India's largest power producer, NTPC, in the first deal of its kind by a state-run firm, according to agency report. The offer price was higher than 30 billion NTPC had been expecting when it asked for expressions of interest in NTPC Green Energy (NGEL) last year. It values NGEL at $2.3 billion.

IDBI Bank: The Union government may defer the $4 billion IDBI Bank privatization plan over concerns that unprecedented market volatility may deter prospective buyers. At current prices, the government and state-run Life Insurance Corp. of India (LIC) will have to sell at least 68% to fetch $4 billion.

Adani Enterprises: The National Stock Exchange (NSE) and the BSE have said that three Adani group companies--Adani Enterprises, Adani Power and Adani Wilmar--will move out of the short-term additional surveillance measure (ASM), effective 17 March. The exchanges had put the three Adani group firms, under the ASM framework on 8 March.

Zee Entertainment: The National Company Law Tribunal (NCLT) has allowed the Indian Performing Right Society Ltd, an operational creditor of Zee Entertainment Enterprises, to withdraw its insolvency petition. The move will bring the company a step closer to its merger with a Sony Group entity for creating a $10-billion media platform.

Samvardhana Motherson: Japan's Sumitomo Wiring Systems on Thursday offloaded a 3.4% in Samvardhana Motherson International for 1,612 crore through an open market transaction. Sumitomo Wiring Systems (SWS) is a promoter entity in Samvardhana Motherson International (SAMIL). According to the bulk deal data available with the National Stock Exchange, Sumitomo sold 23 crore shares of the firm at an average price of 70.1 apiece.

Hindustan Aeronautics: Defence minister Rajnath Singh, in a meeting of the defence acquisition council, approved proposals to procure 70,000 crore worth of different weapon systems for the Indian defence forces. The deal includes the purchase of 60 UH Marine choppers from Hindustan Aeronautics (HAL), worth 32,000 crore.

Glenmark Pharmaceuticals: The company's subsidiary has received acceptance from the US health regulator to proceed with a phase 1/2, first-in-human trial for its investigational new drug aimed for treatment of patients with advanced cancers.

Rail Vikas Nigam: The state-owned railway company has emerged as the lowest bidder (L1) for projects worth 111.85 crore. The scope of work includes supply, installation, testing and commissioning of 11 KV line associated works in various circles of MPPKVVCL, Jabalpur company area.

Voltas: The subsidiary of the company, Universal MEP Projects & Engineering Services (UMPESL), has bagged multiple SITC project orders worth 1,770 crore in electrical power distribution business for FY23, including a solar power project.

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