Stocks to Watch: MTNL, Sun Pharma, Airlines, Adani Ports, Bharat Forge

MTNL is in focus as the Centre is considering relaxing some norms that led to the failure in attracting bids for assets of BSNL and MTNL as they look to restart the auction for their non-core assets.

The key benchmark indices are likely to start Thursday's session on a flat note as per trends indicated by the SGX Nifty futures which were quoting levels of 15,972 at 7:45 am, around 40 points lower from previous close. 

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

MTNL: Shares of MTNL are in focus as the Centre is considering relaxing some norms that led to the failure in attracting bids for assets of Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL) as they look to restart the auction for their non-core assets. DIPAM had listed six properties of BSNL and MTNL for sale through its new e-bidding portal, developed by state-run MSTC, but the auction failed to garner an adequate interest. Read here

Airlines: Scheduled international passenger flights will resume on March 27, two years after a ban was imposed to prevent Covid-19 cases from spreading. The government had banned all international scheduled flights for a week starting March 23, but it stretched to nearly two years in the midst of a raging pandemic. Read here

Dish TV: The shareholders of Dish TV India have rejected the adoption of the company’s annual accounts and the reappointment of Director Ashok Kurien to the company’s board. The company had held its annual shareholders’ meeting on December 30, but did not disclose the results citing pending litigation. According to the voting results announced on Tuesday – the company said 77.6 per cent of votes were polled against Kurien’s reappointment. Click here to read

Zydus Lifesciences: The company on Tuesday said its subsidiary has inked a pact to acquire a brand from the US-based BridgeBio Pharma. Sentynl Therapeutics, Inc -- a US-based wholly owned subsidiary of Zydus Lifesciences -- and BridgeBio Pharma, Inc have executed an asset purchase agreement for the sale of Nulibry (Fosdenopterin) for injection.Read more

HDFC Bank: HDFC Bank expects to see benefits of the new cards it has issued post the Reserve Bank of India (RBI) embargo from this month itself. This is because there is a 6-8 months lag for spends to pick up on new cards, said Parag Rao, country head, payments business. Read here

HDFC: Housing Development Fina­nce Corporation has raised Rs 10,000 crore through 10-year bonds carrying a coupon of 7.18 per cent. The money will be deployed for bus­iness operations. The iss­ue size was Rs 500 crore with a green-shoe option of Rs 9,500 crore.

Sun Pharmaceuticals: Subsidiary Taro Pharmaceuticals USA Inc has completed the acquisition of subsidiary companies of Galderma. The company paid $99.279 million for the entire transaction. Click here to see details
 

Shipping Corp: Shipping Corp. of India’s proposed privatisation may need to wait until the market turbulence triggered by Russia’s invasion of Ukraine blows over and investors regain confidence, said management. Read here

Eveready Industries India: In an exchange filing, Eveready has informed that the board at its meeting held on Wednesday approved the appointment of Suvamoy Saha as the managing director of the company for three years effective from Wednesday.

TVS Motor: A meeting of the board of directors of the Company is being convened on Friday, the 18th March 2022 inter-alia to consider and declare interim dividend to the shareholders of the company for the year ending 31st March 2022. The record date for the purpose of interim dividend will be 28th March 2022

Shriram City Union Finance: The Board of Directors have inter alia declared 2nd interim dividend of Rs 27/- (i.e. 270%) per equity share of Rs 10/- each for the financial year 2021-2022 to those members whose name appears in the Register of Members of the Company as on March 17, 2022, being the record date.

Adani Ports: Adani Ports and Special Economic Zone Ltd (APSEZ) has signed an agreement with Indian Oil Corp Ltd (IOCL) towards augmentation of IOC’s crude oil volumes at Mundra. IOCL shall expand its existing Crude Oil Tank Farm at APSEZ’s Mundra Port, thus enabling it to handle and blend additional 10 mmtpa crude oil at Mundra. 

Moreover, the company has incorporated a wholly owned subsidiary HDC Bulk Terminal with an investment of Rs 5 lac. Click here to see more
 

ISGEC Heavy Engineering: The company has bagged a large order for cement waste heat recovery boilers from Shree Cement in Nawalgarh, Rajasthan.

Trident: India Ratings and Research has upgraded the company's long-term credit rating for Non-Convertible Debentures to IND AA with a positive outlook. 

Bharat Forge: Kalyani Strategic Systems Limited, a wholly owned subsidiary of Bharat Forge has incorporated a company Sagar-Manas Technologies as a wholly owned subsidiary for Rs 7,500. Read here

Atul Ltd: The company has recently completed the expansion of its Sulphur Black manufacturing facility – the production capacity will increase from 9,800 tonnes per annum to 26,000 tonnes per annum.

Petronet LNG: The company has incorporated a wholly-owned subsidiary company at Singapore under the name 'Petronet LNG Singapore Pte. Ltd'. The newly incorporated wholly-owned subsidiary Petronet LNG Singapore has been incorporated to carry out business/activities, including but not limited to purchase of LNG on long, spot and short-term basis and sale of LNG, trading of LNG to Indian and foreign companies, among others. Click here 

Shyam Metalics and Energy: Additonal capacities of 6,00,000 TPA have been commissioned at its Pellet plant and others at its subsidary's plant. Read here

Jindal Stainless: Company's MD Abhyuday Jindal issued a statement on impact of Russia-Ukraine war on business saying as of now, the Company has a healthy order book amid rising nickel prices. "We are also maintaining our focus on exports as we’ve done in the last few quarters," he said. Read here