Stocks to Watch: Infosys, TCS, Zomato, SBI, GMR Power, Zee, Karnataka Bank

Post demerger, GMR Power and Urban Infra, the non-airport business company of the GMR Group, will start trading on BSE and NSE from Wednesday onwards.

The key benchmark indices seem poised for a positive start to trade on Wednesday tracking cues from the global markets. As of 07:05 AM, the SGX Nifty March futures quoted at 17,425, indicating a gap-up of nearly 100 points on the NSE Nifty 50 benchmark. Meanwhile, here are the stocks to focus in trade today.

Zomato: The Food aggregator’s proposed 10-minute delivery service has drawn ire from several quarters – gig workers, market experts, social media users and restaurants. The main reason for the restaurants to be unhappy is that they are against giving up quality control, and are focusing on serving fresh food to customers. READ MORE

Suzlon Energy: The debt-ridden company awaits shareholder approval for a third bailout package. The new lenders are bailing out the company by infusing additional funds and converting their loans worth Rs 4,100 crore into equity. READ MORE

Jet Airways: NCLT has been extended the deadline by a week to allow lenders to formulate their view on the consortium's application to revive the ailing airline. The matter will now be heard on March 29. READ MORE

GMR Power and Urban Infra: Equity shares of GMR Power and Urban Infra Ltd, the non-airport business company of the GMR Group, will start trading on BSE and NSE from Wednesday onwards. Post the demerger, GMR Infrastructure has emerged as the India's first pure-play airports' company and has been trading ex-demerger since January 12, 2022. READ MORE

Infosys: The IT major announced the acquisition of oddity, a Germany-based digital marketing, experience, and commerce agency for a consideration of Euro 50 million, including earn-outs, management incentives and bonuses. The acquisition is expected to close during the first quarter of FY23. READ MORE

TCS: The IT behemoth’s  Rs 18,000 crore share buyback plan was subscribed 5.5 times a day before its close. On Tuesday, 220 million shares were tendered, 5.5 times the company intends to repurchase. The Tata group flagship firm will buy back 40 million shares, or 1.08 per cent of its equity. The buyback is being done at Rs 4,500 per share. READ MORE

Zee: In a setback to the Subhash Chandra family, the Bombay High Court on Tuesday allowed an appeal filed by Invesco Developing Markets Fund, a shareholder of Zee, against a single judge order of October last year that had stayed a shareholders’ meeting to remove Zee’s Chief Executive Officer and Managing Director, and family scion, Punit Goenka. READ MORE

HCL Technologies: The IT firm has signed an agreement with NEORIS for integrated IT services. The two companies jointly will offer unique capabilities to clients in global markets and countries, like Mexico.

Jindal Hotels: The company has scheduled its board meeting on March 25 to consider a proposal for allotting 3.50 lakh equity shares on a preferential basis to the promoters.

PCBL: The company’s board as fixed April 12 as the record date for the proposed stock split from Rs 2 per share to Re 1.

Karnataka Bank: The bank approved a proposal for issuance of Basel III compliant unsecured Tier-2 subordinated bonds in the nature of debentures with a base issue size of Rs 150 crore and a green shoe option to retain oversubscription up to Rs 150 crore.

SBI: The state-run bank has acquired 7.84 per cent stake in ONDC  (Open Network for Digital Commerce) for a consideration of Rs 10 crore.

SBI Cards and Payment Services: The company’s board has approved an interim dividend of Rs 2.50 per share.

SBI Life Insurance: The company’s board has approved an interim dividend of Rs 2 per share.

HUDCO: The company’s board has approved a proposal for raising up to Rs 7,000 crore by way of issue of bonds/ debentures. The board also approved an interim dividend of Rs 0.75 per share.

BEML: The company has declared an interim dividend of Rs 5 per share.

Stocks in F&O ban: Balrampur Chini, Delta Corp, GNFC, Indiabulls Housing Finance and Sun TV are the stocks in the F&O ban period on Wednesday.