Stocks to Watch on Mar 12: ITC, M&M, RK Swamy, RVNL, Triveni Engg, Wipro

Stocks to Watch on March 12, 2024: British American Tobacco Plc is preparing to kick off a sale of part of its stake in ITC as soon as this week, as per The Economic Times

Stocks to Watch on March 12, 2024: Equity benchmark indices Sensex and Nifty are looking to start with small gains on Tuesday as investors await the key CPI data due after market hours. At 7:30 am, the Gift Nifty futures were up 28 points at 22,449 over Nifty futures’ last close. 

Globally, Nikkei fell over 1 per cent cut. Benchmarks across Australia, South Korea, and Hong Kong, however, were up in the range of 0.2 per cent to 0.4 per cent.

In the US overnight, the S&P 500 and Nasdaq Composite fell 0.11 per cent and 0.41 per cent, respectively.

Stocks that may see action today: 

Bharat Highways InvIT: The REIT will list today over an issue price of Rs 100. 

RK Swamy: The stock will debut today against an issue price of Rs 288.

ITC: British American Tobacco Plc is preparing to kick off a sale of part of its stake in ITC as soon as this week, as per The Economic Times. The company has been speaking with Bank of America Corp. and Citigroup Inc. about a potential divestment of around $2 billion to $3 billion in ITC through block deals.

M&M: Its February production rose 26 per cent to 73,380 units from last year(YoY). Sales too grew 26.2 per cent to 71,384 units compared to 56,551 units last year. However, its exports dropped 31.6 per cent to 1,539 units. 

Triveni Engineering: It said it has acquired a 25.43 per cent stake in Sir Shadi Lal Enterprises for an aggregate consideration of Rs 35 crore. 

Aditya Birla Capital: Its board of directors have approved the merger of Aditya Birla Finance, its wholly owned subsidiary, with the company. 

Hindustan Zinc: The Centre has reportedly opposed the company’s plan to demerge into three separate entities dealing with zinc & lead, silver, and recycling businesses. 

Wipro: Wipro has expanded its partnership with Nutanix Inc to launch a new Nutanix-focused business unit. 

PSP Projects: It has received various new work orders worth Rs 410 crore (excluding taxes) for a fintech building at GIFT City, Gandhinagar.

HIL: It will acquire 100 per cent equity of Crestia Polytech & 4 other entities– Topline Industries, Aditya Polytechnic, Sainath Polymers & Aditya Industries for Rs 265 crore on cash free & debt free basis. 

Jupiter Wagons: It has won a Rs 957 crore contract from the Ministry of Railways for manufacturing and supply of BOSM wagons

HG Infra: It has received a Letter of Award for projects worth Rs 862.11 crore from National Highways Authority of India. 

RVNL: It has emerged as the lowest bidder for Maharashtra Metro Project worth Rs 339.23 crore and for a separate project worth Rs 47 crore from Central Railways. 

Pitti Engineering: It has signed a definitive agreement to acquire Bagadia Chaitra Industries for Rs 124.92 crore.