Stocks to Watch: Indian Oil, NTPC, HDFC AMC, Uno Minda, Sterling and Wilson

Stocks to Watch: RIL/ONGC/Oil India may be in focus as the windfall tax on crude petroleum has been reduced to Rs 3,500/tonne from Rs 4,400/tonne

Equity benchmark indices are looking to start Tuesday's trade with a uptick amid positive global cues. As indicated by the SGX Nifty, which was quoting at 17,085 levels, the Nifty index may open around 60 points higher. 

Overnight, the US markets rose after the rescue deal for crisis-hit Credit Suisse. Dow Jones, NASDAQ Composite, and the S&P 500 indices climbed up to 1 per cent.

In Asia-Pacific too, the S&P 200, Kospi, Kosdaq, and Hang Seng indices rose up to 1 per cent.

Meanwhile, here are some stocks to watch out in trade today: 

RIL, ONGC/Oil India: Windfall tax on crude petroleum has been reduced to Rs 3,500/tonne from Rs 4,400/tonne, while the special additional excise duty on diesel has been hiked to Rs 1 per litre from Rs 0.5 a litre. 

Indian Oil Corporation/NTPC: Indian Oil Corporation and NTPC Green Energy, a wholly owned subsidiary of NTPC, will form a joint venture for setting up of renewable energy power plants to meet round the clock power requirement of new projects of the former’s refineries.

Sterling and Wilson Renewable Energy: The company emerged as the successful bidder for a package comprising of four blocks of 300 MW each in the proposed 1200MW Solar PV Project of NTPC Renewable Energy at Khavda RE Power Park, Rann of Kutch. The total bid value, including operation and maintenance for three years, will be Rs 2,100 crore.

  

Kotak Mahindra Bank: The bank allotted 30,000 non-convertible debentures of face value Rs 1 lakh each on private placement basis to raise Rs 300 crore.

Adani Enterprises: The company clarified that the green PVC project in Mundra has been held up on account of financial closure pending with the lenders. The same is expected to be cleared within six months, it said in a statement. 

Uno Minda: The company will acquire 81.69 per cent stake in Kosei Minda Aluminum Company and 49.9 per cent stake in Kosei Minda Mould from joint venture partner Kosei, Japan in share swap deals to consolidated four-wheeler alloy business.

  

HDFC Asset Management Company: As per reports, SBI Mutual Fund has bought 47.33 lakh shares in the AMC via open market transactions amounting to Rs 757.4 crore. However, GQG Partners Emerging Markets Equity Fund sold 24.78 lakh shares in HDFC AMC worth Rs 396.83 crore.

Lupin: The company’s alliance partner Caplin Steriles received final approval from the U.S. FDA to market its Thiamine Hydrochloride injection USP and Rocuronium Bromide injection.

RBL Bank: The Reserve Bank of India imposed a penalty of Rs 2.27 crore over the bank’s failure to ensure that debt recovery agents engaged by it did not resort to intimidation or harassment of any kind.

Dr. Reddy’s Laboratories: Coya Therapeutics in a statement, announced a worldwide agreement with Dr. Reddy’s Laboratories to license the latter’s proposed Abatacept biosimilar for the development of Coya’s combination product for neurodegenerative diseases, COYA 302.

PCBL: The company started pre-commissioning trial run of first phase (63,000 MT) of 147,000 MT greenfield carbon black manufacturing facility in the state of Tamil Nadu by wholly owned subsidiary PCBL (TN) Ltd.

Dwarikesh Sugar Industries: The company’s board approved an interim dividend of Rs 2 per share of face value Rs 1 for FY23 with an outgo of Rs 37.66 crore. The record date for the dividend will be March 31, 2023.

  

Tata Motors: The company has appointed Usha Sangwan as an additional director and independent director for five years from May 15, 2023, to May 14, 2028.

  

J Kumar Infraprojects: The company’s joint venture J Kumar-AICPL received the letter of acceptance from Bangalore Metro Rail Corporation for the construction of airport depot for Bangalore Metro Rail Project for a contract cost of Rs 182.34 crore.

  

PNC Infratech: The company received the notification of intention to award from Haryana Rail Infrastructure Development Corporation for design and construction of civil works from New Patli to Patli and New Patli to Sultanpur for a quoted price of Rs 771.46 crore.

Rail Vikas Nigam: The company formed a JV with Jakson Green for clean energy EPC projects globally.

Dynamatic Technologies: The company’s board allotted 4.5 lakh shares at Rs 2,509 apiece to raise Rs 112.91 crore from three entities

CEAT: The company appointed Arnab Banerjee as MD and CEO for two years from April 1, 2023, after the resignation of Anant Goenka from the post. Goenka has been appointed as a non-executive non-independent director, designated as vice chairman of the company.

Satin Creditcare Network: The board will meet on March 23 to consider the fund raising via non-convertible debentures on private placement basis.