Stocks to Watch: Voda Idea, Wockhardt, KEC Intl, Tata Motors, Pharma, PSBs

Pharma shares are likely to be in limelight as NPPA may allow up to 10 per cent hike on scheduled drugs in the month of April.

The key benchmark indices are likely to nose-dive at the opening bell on Friday amid the raging war in Ukraine. As of 08:00 AM, the SGX Nifty futures quoted at 16,255 – indicating a sharp gap-down of 250 points on the NSE benchmark. Meanwhile, here are the stocks to focus in trade today.

Pharma: In what could be the highest-ever price hike allowed for scheduled drugs (or drugs under price control) in a long time, the National Pharmaceutical (pharma) Pricing Authority (NPPA) is likely to allow a price hike of 10 per cent in April due to steep rise in wholesale price index (WPI)-based inflation. Scheduled drugs roughly constitute 17-18 per cent of the Rs 1.6-trillion domestic pharma market. READ MORE

Vodafone Idea: Promoters of financially stressed telco - Vodafone Idea (Vi) - Aditya Birla Group and Vodafone Group UK will pump in Rs 4,500 crore and Rs 10,000 crore, respectively in the company through preferential issue of equity shares at Rs 13.30 each. READ MORE

Wockhardt: The company’s has approved a proposal to raise up to Rs 748 crore by way of a rights issue of 3.32 lakh equity shares at Rs 225 each. The rights issue will be in the ratio of 3:10. The board has fixed March 09 as the record date to determine shareholders eligibility for the proposed rights issue. The stock last traded at Rs 341.

Tata Motors: The boards of Tata Motors Finance and Tata Motors Finance Solutions (TMFSL), the in-house financiers of Tata Motors vehicles, have approved plans to sell part of their loan assets and receivables of up to Rs 12,000 crore and Rs 2,500 crore, respectively, through securitisation or direct assignment of cash flows. The move will free up capital for both Tata Motors vehicle finance companies. READ MORE

Meanwhile, Tata Motors said it is deploying over 100 mobile showrooms across the country as part of an initiative to offer doorstep car buying experience in the rural areas.

Indian Bank: Chennai-based Indian Bank is likely to have an impact of around Rs 800 crore during the current quarter due to NPAs on account of Future Retail. Earlier, a consortium of 27 banks had indicated they would have to make combined provisions of around Rs 9,000 crore due to non-payment by the retailer. READ MORE

KEC International: The company informed BSE, that it won various orders worth Rs 1,131 crore in transmission & distribution, railways, civil and cables work.

Bajaj Hindusthan Sugar: India's largest sugar manufacturer on Thursday said it received the Board's in-principle nod for exploring options for capital restructuring, resolution plan for debt and other corporate restructuring.

Indiabulls Housing Finance: Market regulator SEBI in its investigation against the company has found the mortgage financier non-compliant with regards to unavailability of certain information on its website as well as its internal policy. Thereby, it has directed the company to take corrective measures and inform the stock exchanges in a months’ time.

Eveready Industries: Brij Mohan Khaitan family members stepped down from the board of the country’s largest dry cell battery maker on Thursday. This was following an open offer and expression of interest from the Burman family to take control of the company.

This would be the first time that the Khaitans would not have representation on the board of the company since its acquisition. Eveready came under the Khaitan fold in 1993 when it acquired Union Carbide India (renamed Eveready Industries India). The Khaitans, however, continue to hold 4.84 per cent in the company. 

SBI, UCO Bank: The RBI is likely to meet some of the state-run lenders, including State Bank of India and UCO Bank, on Friday to discuss payment mechanisms to Russian companies. Indian banks have stopped processing payments to Russian firms after the US imposed sanctions on Russian banks following the invasion of Ukraine last week. READ MORE

Canara Bank: The bank has raised Rs 1,000 crore in capital through additional tier I bonds (AT 1 bonds) at a coupon of 8.07 per cent to support business growth. The issue size was Rs 250 crore with a green shoe option of Rs 750 crore. 

SJVN: The company informed BSE, that it achieved financial closure for two of its projects namely – 210 MW Luhri-1 Hydro Electric Project in Himachal Pradesh and 75 MW Parasaran Solar Power Project in Uttar Pradesh. SBI and Punjab National Bank are the lenders.