Stocks to Watch on Mar 22: Bharat Dynamics, IT stocks, Prestige, L&T, PCBL

Stocks to Watch on March 22, 2024: Bharat Dynamics' board has approved an Interim Dividend of Rs 8.85 and a stock split of one share into two shares

Stocks to Watch on March 22, 2024: Equity benchmark indices Sensex and Nifty are looking at a muted start on Friday after a day of sharp gains. At 7:30 am, the Gift Nifty futures were down 10 points at 22,092 over Nifty futures’ last close. 

Asian markets declined this morning, barring Nikkei in Japan, which crossed 41,000 by rising 0.5 per cent. Hang Seng, on the other hand, dropped 1.7 per cent. Kospi and ASX 200 were also down up to 0.5 per cent. 

Overnight in the US, all three major indices hit fresh highs with the Dow Jones and the S&P 500 rising 0.68 per cent and 0.32 per cent, respectively. Meanwhile, the Nasdaq Composite added 0.2 per cent.

Back home, here are some stocks to keep on your radar Friday:

Bharat Dynamics: The company's board has approved an Interim Dividend of Rs 8.85 per share. It has also given a nod to a sub-division/ stock split of existing 1 share into 2 shares of face value of Rs 5 each. 

IT stocks: Accenture has lowered its revenue forecast for fiscal year 2024 citing global uncertainty and weak client spending on consulting services. It sees full-year revenue growth to be between 1-3 per cent, down from the earlier projection of 2-5 per cent. 

Mazagon Dock: The company said it will lease a land parcel measuring from the Mumbai Port Authority (MbPA) for its Mumbai yard at a cost of Rs 354 crore and for a period of 29 years. 

Tata Communications: The board has approved to hive-off the company's new edged digital services business to unit for Rs 458 crore.

Sarda Energy and Minerals: Its JV subsidiary Natural Resources Energy Pvt Ltd has been awarded the Letter of Intent for composite licence for Surjagad 1 iron ore block in the state of Maharashtra. 

PCBL: Its board will meet on March 27, 2024 to consider and approve the proposal for raising of funds by way of issue of one or more instruments/ securities.

L&T: Its board too will meet on MArch 27 to consider fund raising by way of debt. 

Mahindra Lifespaces: It has launched a new residential project, ‘Mahindra Zen’ at Bengaluru South. 

TVS Holdings: Its board has declared an interim dividend of Rs 94 per share. 

Muthoot Finance: The company has acquired an additional 4.48 per cent stake in unit Belstar Microfinance for Rs 300 crore. With this, its stake in the latter has risen to 63.5 per cent.

Life Insurance Corp: The company has reportedly increased its stake in LTIMindtree from 4.99 per cent to 5.03 per cent.

Prestige Estates: It has announced its latest acquisition of 62.5 acres of prime land in Indirapuram Extension, NCR, for Rs 468 crore. The acquired land will be developed primarily as residential, complemented by education and retail

PC Jeweller: Its board will meet today to consider a fundraise. 

Grauer & Weil: The company has entered into a technology transfer and license agreement with Germany-based OTMK GmbH.