Stocks to Watch: Hero Moto, Vedanta, Lupin, Future Retail, ONGC, Tech M

The markets are likely to start on a negative note on Friday amid globally weak sentiment as US, European markets closed with significant losses overnight. The SGX Nifty futures were quoting at 17,431 levels at 7:30 am, hinting at a gap-down start of 100 points on the Nifty50. 

Meanwhile, these are the stocks to watch out for in trade today: 

Bharti Airtel, Tech M: The two on Thursday announced a strategic partnership to jointly develop and market enterprise-grade digital solutions across 5G, private networks and cloud. Airtel and Tech Mahindra will co-develop and market 5G use cases in India, according to a statement. Read here.

SpiceJet: SpiceJet has entered into an in-principle settlement with Credit Suisse, saving itself from possible liquidation. Last December, the high court had ordered the winding up of SpiceJet for failing to make payment of $24 million to Swiss maintenance company SR Technics. Read more 

Hero MotoCorp: An expenditure of more than Rs 800 crore on the books of Hero MotoCorp was not for purposes of business but made for a service from an event management company, which allegedly siphoned off the amount, according to an income-tax department probe. The siphoning off was done through shell firms. Read here

Future Retail: Some of the entities of Kishore Biyani-controlled Future group, for whom payments were due on March 31, have defaulted. In a related devel­opment, Future Retail’s Chief Executive Officer (CEO) Sadashiv Nayak on Thursday resigned from the post seven months after his appointment, according to a filing. Read more 

Paytm: Fintech company Paytm said on Thursday will be able to use its buy-now-pay-later service to buy train tickets from the IRCTC website. Read more 

Vodafone Idea: Vodafone Idea on Thursday said its board has approved the allotment of 3.38 billion equity shares at Rs 13.30 per scrip to three promoters group entities - Euro Pacific Securities, Prime Metals and Oriana Investments - for about Rs 4,500 crore. The telecom operator had earlier this month announced Rs 14,500 crore fundraising plans, where promoters would inject Rs 4,500 crore. Read here

ONGC: ONGC that opened seven out of India's eight oil and gas producing basins, is on the way to open another basin, Vindhyan as it details out commercialisation of a gas discovery in Madhya Pradesh. An exploratory well in Son valley sector in Madhya Pradesh's Damoh district discovered gas, and on tests confirmed commercially available volumes, the company said. Read more 

Lupin: Mumbai-based drug major Lupin said that it's New Jersey facility has received thirteen observations from the US drug regulator. The facility accounts for less than 5 per cent Lupin's global turnover. The observations do not, however, imply any restriction on supplies. Read here

IndiGo: The company has partially reinstated salaries of its pilots with the stabilisation and growth in its operations. India's largest domestic airline had introduced a 28 per cent pay cut for pilots in 2020. Read here

GAIL: Gail (India) on Thursday approved a buyback of 57 million shares at Rs 190 apiece aggregating to Rs 1,083 crore. The buyback is at a 22 per cent premium to the company’s last closing price. Read more

Vedanta: Mining giant Vedanta Limited on Thursday said its board has approved a proposal to source 580 MW of green energy for its operations across India. The company said a power delivery agreement has been signed with the Sterlite Power Technologies Private Ltd, a special purpose vehicle for supply of solar and wind-based energy. Read here

Sterlite Technologies: The company has signed the definitive agreement to sell its 64.98 per cent stake in Maharashtra Transmission Communication Infrastructure (MTCIL). Total consideration of Rs 43 crore agreed to be received in multiple tranches.

Ruchi Soya Industries: The board has approved issue price at Rs 650 per equity share for its follow-on public offer.

HDFC Asset Management Company: As per reports, Life Insurance Corporation of India has acquired 2.02 percent stake in the company via open market transactions. With this, its shareholding in the company stands at 7.02 percent, up from 5 percent earlier.

Adani Enterprises: Won order worth Rs 2008.47 crores National Highways Authority of India (NHAI). With this order, adani has assets worth of more than Rs 41,000 crores in road portfolio