Stocks to watch: Infosys, LIC, NLC India, Mukka Proteins, Zomato

Stocks to track on March 07, 2024: Mukka Proteins is set to make its stock market debut on Thursday at an issue price of Rs 28 per share

After a surprise second half turn around at the markets on Wednesday, investors will have some optimism to carry forward for this week’s last trading session. 

At 7:10 am, the Gift Nifty futures were 72 points higher at 22,659.50 over Nifty futures’ last close.   

Markets across Asia-Pacific hoisted the green flag on Thursday morning. In Asian markets, Japan’s Nikkei index soared 0.8 per cent to reach its new record high at 40,314.64, while the broad based Topix too hit its fresh high rising by 0.6 per cent. 

South Korea's Kospi was up by 0.42 per cent, and the small-cap Kosdaq dropped by 0.1 per cent. Hong Kong Hang Seng index futures stood at 16,565, surpassing the HSI's previous close of 16,438.09, indicating a potential extension of gains on Wednesday. 

In the US, the Nasdaq Composite added 0.58 per cent as the market recovered on Wednesday after the decline seen on previous two days. The Dow Jones Industrial Average gained 0.2 per cent, and the S&P 500 shot up by 0.51 per cent.  

Stocks that may see action today:

Infosys: The IT major has announced the extension of its digital innovation partnership with the ATP Tour until 2026, focusing on driving AI-first innovations in professional tennis.

LIC: Life Insurance Corporation of India has raised its shareholding in LIC Mutual Fund Asset Management (LIC MF) from 40.93 per cent to 44.61 per cent of the company's paid-up capital through private placement. 

NLC India: The government plans to divest up to 7 per cent of its stake in NLC India through an offer for sale (OFS), aiming to raise approximately Rs 2,000-2,100 crore.
 

Hindustan Aeronautics: The company has entered into an amendment to the LCA IOC contract, with the contract value revised from Rs 2,700.87 crore to Rs 5,077.95 crore.

IIFL Finance: IIFL Finance said on Wednesday stakeholder Fairfax India Holdings Corporation has agreed to give it liquidity support of $200 million after the Reserve Bank of India (RBI) barred the non-banking financial company from giving gold loans.

IOC: Indian Oil Corporation Ltd (IOC) the nation's top oil firm - will in three months start manufacturing fuel used in adrenaline-pumping Formula One or F1 motor racing as it looks to expand its basket of niche fuels.
 

Zomato: Morgan Stanley Asia Pte. infused Rs 909.5 crore into Zomato Ltd. following a reduction in the stake by an affiliate of China's Ant Group through open market transactions on Wednesday.

IGL: On Wednesday, March 6, Indraprastha Gas Ltd (IGL) announced a reduction in compressed natural gas (CNG) prices in Delhi by Rs 2.5 per kilogram.

Tata Motors: Moody's Investors Service has upheld Tata Motors' corporate family rating at "Ba3" and sustained a "positive" outlook. This decision follows Tata Motors' initiative to demerge its commercial and passenger vehicles businesses and independently list them on the exchanges.

Vedanta: The company is exploring various legal avenues, including the potential filing of a review petition, following the top court's decision that rejected its plea to resume operations at the Thoothukudi copper smelter in Tamil Nadu.

Samvardhana Motherson: Sumitomo Wiring Systems, a major stakeholder in Samvardhana Motherson International, divested a portion of its holdings in the company through bulk deals on Wednesday. The transaction's total value amounts to Rs 3,630 crore.
 

Subex: Subex secured a deal with a major telecom operator in Southeast Asia, deploying advanced business assurance and fraud management solutions on Hyper Sense.

Kaynes Technology India: The firm signed a technology provision agreement with ISO, facilitating the establishment of a supply chain for OSAT business in India

Jupiter Wagons: The company secured an order valued at Rs 956 crore from the Ministry of Railways for the production and supply of 2,237 BOSM Wagons.

New Listing: 

Mukka Proteins: The company is set to make its stock market debut on Thursday at an issue price of Rs 28 per share. The IPO, valued at Rs 224 crore, witnessed robust demand, being oversubscribed 136.99 times during its three-day offering.