Stocks to watch: Natco Pharma, Adani Ports, Edelweiss Financial

Natco Pharma: The company's board will meet on 8 March 2023 to consider a proposal for buyback of fully paid up equity shares of the company.

Adani Ports & SEZ: The company handled 26.5 mmt cargo in February, which is 10% higher than the previous year period and during April-February, the cargo volumes stood at 307 mmt, up 8.5% YoY.

Edelweiss Financial Services: The media reported that the Income-Tax department conducted raids at premises linked to the investment and financial services company in Mumbai yesterday. As per reports, the raids took place over suspected tax evasion.

Karnataka Bank: The lender said Muralidhar Krishna Rao demitted the office of CFO on 1 March 2023 and the bank has appointed Abhishek Sankar Bagchi as new CFO.

 

Happiest Minds Technologies: The company's board has approved raising funds of up to Rs 125 crore through issue of non-convertible debentures (NCDs) on private placement basis in three tranches.

M&M Financial Services: The company estimates a total disbursement of Rs 4,185 crore in February, delivering 53% growth over February 2022. Consequently, the loan book grew further by 1.5% over January 2023. The collection efficiency (CE) was at 97% for February 2023 compared to 98% achieved in February 2022.

MOIL: The state-owned manganese ore producer has announced production of 1.31 lakh tonnes of manganese ore in February 2023, a 10% growth over the same period last year. Manganese ore sales at 1.32 lakh tonnes during the month increased by 19% YoY.

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