Stocks to Watch: Axis Bank, M&M, Laurus Labs, Tata Consumer, Auto, OMCs

As per Moody's, fuel retailers IOC, BPCL and HPCL have together lost around USD 2.25 billion (Rs 19,000 crore) in revenue between Nov-March by keeping petrol and diesel prices unchanged.

The markets are likely to open marginally in green on Friday as investors remain wary over the possibility of further sanctions on Russian energy and the likely impact on global economies, including India. As of 07:45 AM, the SGX Nifty March futures quoted at 17,300 levels, hinting at a opening gain of 50 points for the Nifty50. 

Meanwhile, here are some stocks that may see likely market action today: 

Auto companies: Reliance New Energy Solar, Ola Electric, Hyundai Global, and Rajesh Exports are among four firms that have been selected for the Rs 18,100 production-linked incentive (PLI) sch­eme for advanced chemistry cell (ACC) battery storage.

The five firms that unsuccessfully bid for the scheme — Mahindra & Mahindra, Larsen & Toubro, Amara Raja Batteries, India Power Corp, and Exide Industries — are placed under a waiting list. Read story

Laurus Labs: Laurus Labs has received US FDA nod to market generic of HIV drug-Kaletra tablet. 

Tata Consumer Products: The company’s board will consider raising funds via issue of equity shares of up to 1.5 per cent paid-up share capital to a foreign company on March 29, 2022.

Axis Bank: The Securities and Exchange Board of India (Sebi), on Thursday, levied a penalty of Rs 5 lakh on Axis Bank for flouting merchant banking (MB) regulations. The matter dates back to a period between August 2016 and August 2019. Read here

Oil companies: India's top fuel retailers IOC, BPCL and HPCL have together lost around USD 2.25 billion (Rs 19,000 crore) in revenue between November and March by keeping petrol and diesel prices unchanged despite a sharp rise in crude oil prices, Moody's Investors Service said on Thursday. Read more

Moreover, Petrol and diesel prices have been hiked today by an additonal 80 paise. 

Exide Industries: Chloride Metals Ltd, a material wholly owned subsidiary of the company, has started commercial production at its newly set-up greenfield manufacturing facility of battery recycling at Haldia, in the state of West Bengal. The total installed capacity of the plant is 108,000 MT p.a.

M&M: National Company Law Tribunal (NCLT) has approved the merger of subsidiaries Mahindra Engineering and Chemical Products, Retail Initiative Holdings and Mahindra Retail, with the company. 

Motherson Sumi: The company has won an order to manufacture & supply parts for commercial plane interiors. This is its first order from Boeing. 

Kalpataru Power Transmission: Reports said that SBI Funds has bought 14.5 lakh shares in the company and its stake has increased to 7.25 per cent from 6.27 per cent earlier. 

Gulshan Polyols: The company has raised Rs 79 crores via QIP. It approved issue price of Rs 326.48 per equity share, a discount of 5 per cent to the floor price of Rs 343.66. 

Zen Technologies: The company has received a project sanction order (PSO) from Indian Army, for design and development of prototype of Integrated Air Defence Combat Simulator (IADCS).

GTPL Hathway: Company has announced its partnership with Verimatrix to onboard its Video Content Authority System (VCAS) to protect its Google Android TV-based box.

GR Infra: Company has received letter of award for new NHAI project in MP. The bid cost of the project is Rs 907 crores. 

Kohinoor Foods: The board has approved the sale of the factory unit of the company at Sonepat (Haryana), by way of slump sale, and appointment of Chashu Arora, Chartered Accountant, as CFO of the company.

Anjani Foods: The company has executed a joint venture agreement with joint venture company Senta Foodwork wherein Anjani Foods holds 51 per cent stake and the rest of shareholding is held by Quennelle 36 Foodworks. They formed joint venture to engage in the business of bakery products.

Stocks in F&O ban: Balrampur Chini Mills, Delta Corp, Indiabulls Housing Finance, Vodafone Idea, L&T Finance Holdings, SAIL, and Sun TV Network- are under the F&O ban.