Stocks to Watch: UPL, ITC, Restaurants, Multiplexes, FMCG, OMCs, Suzlon

Shares of multiplex restaurant owners are likely to be in focus on easing of Covid-19 related curbs in Maharashtra.

The key benchmark indices are likely to start trade with mild gains on Thursday taking cues from the global counterparts. As of 08:00 AM, the SGX Nifty March futures quoted at 16,666 – indicating a gap up of 50-odd points on the NSE benchmark. Meanwhile, here are the stocks to focus in trade today.

Restaurants, Entertainment: Shares related to restaurants and entertainment parks owners, including multiplexes are likely to see some action as the Maharashtra government lifted Covid-19 related restrictions, thus allowing them to operate at 100 per cent capacity in 14 out of 36 districts in the state, including Mumbai. READ MORE

FMCG: The fast-moving consumer companies are in a spot with commodity prices soaring as a result of the Russian invasion of Ukraine. Crude palm oil is also at an all-time high of $1,854 per tonne. These companies are now forced to rethink their price hike strategie due to high raw material costs. READ MORE

ITC: The diversified conglomerate plans to hike milk prices over the next few days, to pass on increased cost of procurement from farmers, partially. Commenting on the extent of hike, the company’s senior official said, farmers’ faced cost push in the past nine months, which in turn led to an increase in procurement prices by Rs 3-4 a litre for the company. READ MORE

Suzlon Energy: Indian lenders have approved a plan by wind energy firm Suzlon Energy to convert part of its debt of around Rs 4,100 crore into equity that would see the creditors’ stake rise to 35 per cent, while promoter Tulsi Tanti’s stake fall to 12.7 per cent post dilution. READ MORE

Oil Marketing Companies (OMCs): The war in Ukraine has led to spikes in oil and gas prices. Further price rises are likely if physical supply disruption occurs. Even otherwise, supply will be tight and prices will remain elevated for an undefinable period. Fall in refining margins and likely sharing of subsidy burden are key overhangs. READ MORE

Two-wheeler stocks: Cumulative sales of top five manufacturers dropped by a fourth during February 2022 over the year ago period as companies curtailed dispatches to dealers amid a poor demand. Likely spike in fuel costs could delay recovery, said analysts. READ MORE

Religare Enterprises: The diversified financial services provider informed BSE, that is in the process of setting up a war chest for new ventures. The company plans to enter new strategic sectors, including asset reconstruction, alternate investment funds, insurance broking and digital wealth management, embarking on a new era of growth. 

UPL: The company’s board has proposed share buyback plan at Rs 875 per share. The stock last traded at Rs 689 on Wednesday.

Everest Organics: The company informed BSE, that there has been changing in rating agency from Brickwork Ratings to ICRA. The latter has reaffirmed the existing ratings on the bank facilities worth Rs 47 crore.

Entertainment Network: The company informed BSE that ratings agency CRISIL Ratings, reaffirmed its existing ratings on the bank loan facilities worth Rs 100 crore, and also on its NCDs and commercial papers worth Rs 350 crore.