Stocks to Watch: DRL, Mankind, Sun Pharma, Wipro, Kalpataru, TTML, Airlines

The key benchmark indices are likely to start trade with modest gains amid mixed global cues. The ongoing developments on the Russia-Ukraine crisis, high crude oilr prices and persistent net sales by FIIs continue to weigh on the investor sentiment. As of 07:50 AM, the SGX Nifty futures quoted at 17,378, indicating a likely positive start of 40-odd points for the Nifty 50 index. Meanwhile, here are the top stocks in focus for trade on Thursday.

Earnings Watch: Ambuja Cement, Nestle India and Veritas to announce December quarter results today.

Dr.Reddy’s (DRL), Sun Pharma: When it comes to trade, Ukraine is India’s 47th largest trade partner in 2021-22, with a share of only 0.32 per cent at $2.35 billion with respect to the country’s total trade. Pharmaceutical, agricultural products, food products, iron and steel, ceramics are the top exported items to the east European country. Indian pharmaceutical majors such as Sun Pharmaceuticals Industries Ltd, Dr Reddy’s Laboratories, Kusum Healthcare have their presence in Ukraine. READ MORE

Airlines: Shares of Aviation companies may come under pressure as jet fuel prices were hiked by Rs 4,481.63 per kilolitre or 5.2 per cent to Rs 90,519.79 per kl in the national capital.  Jet fuel prices on Wednesday soared to record high levels across the country after rates were increased by 5.2 per cent in line with a rise in international oil prices. This is the fourth hike in jet fuel or Aviation Turbine Fuel (ATF) prices in less than two months following a spike in global oil prices. READ MORE

Vedanta: Global rating agency Moody's has changed the outlook from “stable” to “negative” on Vedanta Resources Ltd (VRL) reflecting large near-term refinancing requirements amid tightening liquidity in the capital markets. It, however, affirmed VRL’s “B2” corporate family rating (CFR) and the B3 rating on the senior unsecured notes issued by VRL and those by Vedanta Resources Finance II Plc. READ MORE

Mankind Pharma: After acquiring the domestic formulations business of Panacea Biotec, India's fourth largest pharma company Mankind Pharma on Wednesday said that it has entered into an agreement with Dr Reddy's Laboratories (DRL) to acquire two of its brands - one asthma and one infant care brand. The deal size was not disclosed. READ MORE

TTML: Tata Sons, the holding company of the Tata group, will infuse an additional Rs 2,420 crore in its loss-making unlisted subsidiary, Tata Teleservices, which will, in turn, use the cash to pay off its lenders before March. READ MORE

Wipro: The IT company has signed a five-year deal with ABB as its strategic transformation partner to help deliver enhanced, consumer-grade digital experiences for its 105,000 employees in over 100 countries. The deal is worth $100 million.

Kalpataru Power: The company has scheduled its board meeting on February 19 to consider a proposal for reorganization.

Future Consumer: The company part of the embattled Future group defaulted on the payment of interest and principal due on unlisted non-convertible bonds issued to CDC Emerging Markets. The deferred coupon (interest) component amount was Rs 5.49 crore and the principal amount was Rs 21.18 crore. READ MORE

Cement: Post Q3 numbers the sector presents an intriguing picture. Overall the most of the companies reported disappointing results. This was due to a combination of several factors. Base effects are wearing off since Oct-Dec 2020 saw some recovery. Operating costs escalated sharply especially because power / energy costs shot up. However, Q4 (Jan-Mar 2022) may see some demand bounce and that would allow companies to raise prices and pass on costs to some extent. READ COMPLETE ANALYSIS HERE

Southern Petrochemicals: The company’s consolidated Q3 net jumped 9.3-fold to Rs 59.60 crore in the quarter ended December 2021 when compared with Rs 6.40 crore in the quarter ended December 2020. Total income rose 15.2 per cent YoY to Rs 492 crore.

Gail: The state-owned company plans to lay a pipeline to Srinagar to take the environmentally friendly natural gas to the Kashmir Valley as it doubles down on efforts to expand infrastructure to helm the government vision of a gas-based economy, its chairman and managing director Manoj Jain said. READ MORE

IDBI Bank: The government will start road-shows with investors for the strategic disinvestment of IDBI Bank from February 25 as the Centre and Life Insurance Corporation of India (LIC) look to sell their stake in the lender to a private buyer. The government is looking to sell its 45.48 per cent shareholding in the lender. LIC, which owns 49.24 per cent, will also offload its stake to transfer management control to the new buyer. READ MORE

Infosys: India’s second-largest IT exporter plans to hire more than 55,000 fresh graduates from campuses in FY23 as it sees a very good runway for growth going forward, the company's chief executive Salil Parekh said. He said Infosys is targeting a 20 per cent jump in annual revenues in FY22 and this presents a great opportunity for a fresher to join the company and grow. READ MORE

Compuage Infocom: The company’s board in its meeting on February 16 approved a proposal to raise up to Rs 50 crore by way of rights issue of equity shares.

Stocks in F&O ban: Escorts, Indiabulls Housing Finance and SAIL are the only three stocks in the F&O ban period on Thursday.