GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Tuesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded higher as the index was up 92.50 points or 0.42% at 22,183.50 indicating a positive start for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 lost 90.65 points or 0.41% to settle at 22,122.05, while the BSE Sensex closed 352.67 points or 0.48% lower at 72,790.13.
Stocks to Watch on February 27, 2024
Reliance
Reliance Industries’ philanthropic arm, Reliance Foundation, has launched Vantara. It is an initiative to rescue and rehabilitate injured and abused animals in India and abroad.
One97 Communication
Vijay Shekhar Sharma on Monday resigned as the part-time non-executive chairman and board member of Paytm Payments Bank (PPBL), One 97 Communications Ltd (OCL), the parent company of Paytm, said in a regulatory filing.
NTPC
The company said it has crossed 100 million tonnes of coal production mark from its captive mines on February 26. The milestone was achieved on February 25, 2024, NTPC said in a statement.
Alkem Laboratories
On February 26, Alkem Laboratories denied media reports alleging that the company has been involved in tax evasion. “We categorically deny these allegations and rumors as published in these articles and state that information published is factually incorrect,” the company said in a regulatory filing.
SVJN
SVJN announced that its wholly owned subsidiary, SJVN Green Energy, has signed the Power Usage Agreement (PUA) with Jammu & Kashmir Power Corporation Limited (JKPCL) at Jammu for 300 MW solar power capacity.
L&T
L&T’s construction arm, L&T Construction, said that its Railways Strategic Business Group has secured a significant order to construct the Jakarta Mass Rapid Transit Project (Phase 2A) for MRT Jakarta on February 26. The company will construct it through L&T’s long-term Japanese partner, Sojitz Corporation. This contract marks the first EPC Railway Systems Order for L&T in the ASEAN region, the company said.
Religare Enterprises
Religare Enterprises said its wholly-owned subsidiary, Religare Finvest, successfully cleared all its debts with external lenders on February 26, effectively resolving all legacy issues.
Gensol Engineering
Gensol Engineering said that it got two significant EPC contracts, underscoring the company’s commitment to India’s renewable energy sector on February 26.
Oil Companies
State-owned oil and gas giants including Indian Oil, ONGC, and GAIL (India) have been slapped with fines worth cumulating to Rs 32.5 lakh for the third straight quarter. The companies failed to meet listing norm requirements of having the requisite number of directors on their board.
Mahindra Holidays & Resorts India
Mahindra Holidays & Resorts India has planned to invest up to Rs 4,500 crore in the next three to four years to double its room capacity to 10,000, according to company Managing Director and CEO, Kavinder Singh.
Coal Companies
With nine successful rounds of coal blocks auction where 120 mines have been handed over to private bidders for commercial mining since 2020, the government might come up with one more round of auction, before stopping the process. The government feels there may not remain any more appetite for coal blocks in the country after the tenth round, an official told FE.
