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Stocks to watch: Nestle India, Adani Ports, L&T Finance, Heritage Foods

L&T Finance said it has closed its rights issue and raised over Rs 2,998 crore

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SI Reporter  |  New Delhi 

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The Nifty futures on Singapore Exchange traded 70 points down at 15,258 around 8.40 am, indicating a tepid start for benchmark indices on Wednesday.

Here are the top stocks that are likely to be in focus today:

Adani Ports: The company said it has completed the acquisition of Dighi Port for Rs 705 crore and would invest over Rs 10,000 crore in developing it as an alternate gateway to JNPT.

L&T Finance Holdings: The company, last evening, informed exchanged that it has closed its rights issue and raised over Rs 2,998 crore. The rights issue was oversubscribed by approximately 15 per cent, it said in a release.

Nestle India: The company's profit after tax rose 0.2 per cent year-on-year to Rs 483.3 crore from Rs 472.6 crore in the corresponding quarter previous year.

Tata Consumer: The stock is likely to be in focus amid reports that Tata group is acquiring 68 per cent stake in online grocery platform BigBasket for around Rs 9,500 crore.

Page Industries: Vedji Ticku has resigned as the Chief Executive Officer and Executive Director of Page Industries.

Heritage Foods: Heritage Novandie Foods, a 50:50 joint venture company between and Novandie, France started commercial production.

Earnings Today: Pasupati Spinning, Uniply Decor and 3 other firms will announce their quarterly earnings today.

ICICI Bank: The lender will buy stakes in two fintech companies -- CityCash and Thillais Analytical Solutions -- for a total cash consideration of Rs 6.03 crore.

Ashok Leyland: Hinduja flagship firm Ashok Leyland on Tuesday said it has acquired 26 per cent stake in Prathama Solarconnect Energy Pvt Ltd (PSEPL) for Rs 18.66 crore.

APL Apollo Tubes: APL Infrastructure Pvt Ltd offloaded 30 lakh shares of APL Apollo Tubes worth a little over Rs 289 crore through an open market transaction. According to the company's latest shareholding pattern, APL Infrastructure held 34.86 per cent stake in APL Apollo Tubes as a promoter.

Infosys: Infosys McCamish Systems, a US-based subsidiary of Infosys BPM, on Tuesday said it has bought the business and underwriting platform from STEP Solutions Group LLC.

Ultratech: Cement major Ultratech approved allotment of unconditional, unsubordinated and unsecured USD denominated notes in the form of “Sustainability Linked Bonds" to raise $ 400 million (Rs 2,900 crore).

HUDCO: The Uttar Pradesh government inked an agreement with the Housing and Urban Development Corporation Limited (HUDCO) to raise Rs 2,900 crore loan for the proposed 600 km Ganga Expressway project.

Bajaj Electricals: ICRA upgraded the company's long-term credit rating to A from A-, with stable outlook.

TVS Srichakra: The company signed an MoU with Tamil Nadu government for a planned capex program.

Tata Communications: The company announced partnership with Google Cloud to drive cloud adoption and transform Indian businesses. The partnership will enable organisations to deploy and access Google Cloud services through Tata Communications' IZO managed cloud.

IndusInd Bank: IndusInd International Holdings (IIHL), the promoter company of IndusInd Bank has completed its capital raise through rights issue, which was oversubscribed. IIHL has redeemed the balance 75 per cent of the warrants of the IndusInd Bank at Rs 1,709 apiece, a premium 1400% over the current market price of Rs 1059), aggregating to Rs 2021.45 crores.

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First Published: Wed, February 17 2021. 08:39 IST
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