Stocks to Watch: Axis Bank, Info Edge, Matrimony, Hero Moto, Coal India,NLC

Stocks to Watch on March 2, 2024: Axis Bank will raise up to Rs 4,000 crore via NCDs. The base issue is worth Rs 1,000 crore and the green shoe option will be Rs 3,000 crore

Stocks to Watch on March 2, 2024: Benchmark indices Sensex and Nifty may open higher in Saturday's special trading session, tracking positive cues from US markets overnight. 

The Gift Nifty futures closed at 22,511 on IFSC, against Nifty futures' close of 22,443 on NSE. 
 

The NSE and BSE are conducting a special trading session in two parts today.

First slot will take place on the normal site from 09:15 to 10:00 AM; while for the second slot, trading will be switched to its Disaster Recovery Site (DRS) to test its preparedness for any unforeseen events, from 11:30 to 12:30 pm. 

Overnight in the US, the S&P 500 and Nasdaq scaled fresh record highs. Dow Jones gained 0.2 per cent, while the S&P 500 and Nasdaq jumped 0.8 per cent and 1.1 per cent, respectively.

Here are some stocks to watch: 

Mineral blocks auction: Vedanta, Coal India, and NLC India, alongside Ola Electric, Jindal Power, and the Dalmia Group, Shree Cement are participating as bidders for 20 blocks in the initial phase of the auction for critical mineral blocks in India. Read

Green hydrogen: For the maiden tender for electrolyser manufacturing under the National Green Hydrogen Mission (NGHM), the Centre has finalised successful bidders which include Reliance Industries Ltd (RIL), Adani Enterprises, and L&T. Read

Axis Bank: It will raise up to Rs 4,000 crore via NCDs. The base issue is worth Rs 1,000 crore and the green shoe option will be Rs 3,000 crore.

Info-Edge, Matrimony: Apps of Info Edge's job-search business Naukri, real estate business 99acres and Matrimony.com's flagship BharatMatrimony have been delisted from Google Play Store, among several others for failing to pay service fees for the use of the app store.

Torrent Power: IT has bagged a project worth Rs 440 crore from NTPC Vidyut Vyapar Nigam for the supply of power from gas based power projects.

Aurobindo Pharma: It has received US FDA approval for marketing Fingolimod Capsules, 0.5 mg, which are used to treat relapsing forms of multiple sclerosis.

JSW Steel: The company's step-down subsidiary, JSW Steel Italy SRL, has signed a MoU with the Ministry of Industry and Made in Italy, the Tuscany Region and the Municipality of Piombino to commence and relaunch the steelworks site of Piombino.

Paytm: The Financial Intelligence Unit-India has imposed a penalty of Rs 5.49 crore on Paytm Payments Bank for violating money laundering norms.

Hero MotoCorp: The company reported 19 per cent YoY sales growth in February at 468,410 units. Domestic sales grew 16.5 per cent YoY to 445,257 units, and exports rose 91 per cent to 23,153 units in February.

Welspun Corp: The company’s step-down subsidiary, Sintex Advance Plastics (SAPL), plans to set up a manufacturing facility for plastic pipes and water storage tanks in Madhya Pradesh with an investment of Rs 400 crore. 

Cipla: The pre-approval inspection was conducted by the US FDA at the manufacturing facility of subsidiary Cipla (Jiangsu) Pharmaceutical in Qidong, Jiangsu Province, China, from February 26 to March 1. The inspection concluded with zero Form 483 observations.