Stocks To Watch: Wipro, NHPC, Zee Entertainment, Adani Ports, Vodafone Idea, Dr. Reddy’s Labs

Asia markets were set for a minor advance on Tuesday after the U.S. stocks managed to log small gains as investors digested further signs of economic strength, indicating that a path of tighter monetary policy lies ahead.

Australian shares rose and futures contracts for equity benchmarks in Japan and Hong Kong climbed in line with the 0.3% advance for the S&P 500 on Monday. The tech-heavy Nasdaq 100 gained 0.7% as the two US indexes partly rebounded from swift declines Friday.

Meanwhile, the yield on 10-year Treasuries advanced to 3.92%. Crude prices were trading around $82-mark, while Bitcoin was trading below 24,000-level.

At 6:05 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was unchanged at 17,487.5.

India’s benchmark indices Sensex and Nifty ended down for the seventh straight day and hit a four-month low on Monday as metals, I.T., and auto stocks fell.

Rupee continued to decline against the U.S. dollar amid speculations of further Fed rate hikes.

Overseas investors in Indian equities remained net sellers for the fourth day in a row on Monday. Foreign portfolio investors offloaded equities worth Rs 2,002.52 crore, while the domestic institutional investors were net buyers for the fourth day in a row and mopped up stocks worth Rs 2,231.66 crore.

• Wipro: The company announced four strategic global business lines—Wipro FullStride Cloud, Wipro Enterprise Futuring, Wipro Engineering Edge, and Wipro Consulting— to deepen alignment to evolving client needs.

• NHPC: The Cabinet approved Rs 1,600 crore for pre-investment activities and various clearances for the Dibang Multipurpose Project being developed by the company in Arunachal Pradesh.

• Zee Entertainment Enterprises: The exchanges reverted surveillance actions against the company after NCLAT stayed insolvency proceedings against it. With this, the exclusion of Zee from futures and options segment stands withdrawn and F&O contracts with May 2023 expiry to be made available from Feb. 28.

• Infosys: The company rolled out private 5G-as-a-Service for enterprise clients worldwide.

• Vodafone Idea: The board allotted 12,000 optionally convertible debentures of the face value of Rs 10 lakh each, aggregating to Rs 1200 crore, to ATC Telecom Infrastructure.

• Godrej Industries: The company appointed Vishal Sharma as the CEO-designate of the chemicals business of Goderej Industries, with effect from March 1, 2023.

• Tata Steel: The committee of directors approved allotment of 2.15 lakh non-convertible debentures at 8.03% fixed coupon rate, amounting to Rs 2,150 crore to identified investors on private placement basis for a tenor of five years.

• Mastek: The company announced strategic partnership with Netail to help e-commerce and omni-channel retailers optimise their retail value-chain in order to attract, convert, and retain digital consumers.

• Indiabulls Real Estate: The company appointed president Sachin Chittaranjan Shah as executive director of the company for a tenure of five years, effective Feb. 27, 2023. Shyamm Mariwala, Javed Faizullah Tapia and Tarana Suresh Lalwani have been appointed as additional independent directors.

• Vesuvius India: The company appointed Rohit Baheti as the chief financial officer, effective Feb. 27, 2023.

• Balrampur Chini Mills: The board approved allotment of 14,000 non-convertible debentures on private placement basis to raise Rs 140 crore.

• Tanla Platforms: The company unveiled its phishing protection platform Wisely ATP at the ongoing Mobile World Congress 2023 in Barcelona.

• Adani Ports and Special Economic Zones: The company incorporated a subsidiary PU Agri Logistics to develop and operate the silo complex at 26 locations in Punjab.

• Mahindra Logistics: Chief financial officer Yogesh Patel has resigned from his position, and will be relieved of his duties with effect from close of business on March 10, 2023.

• Dr. Reddy’s Laboratories: The company entered into a definitive agreement to acquire the U.S. generic prescription product portfolio of Australia-based Mayne Pharma.

• Satin Creditcare Network: The board will meet on March 2 to consider fresh fundraising via non-convertible debentures on private placement basis and amend the terms of an issue approved on Feb. 16, 2023.

• CSB Bank: The bank will hike its lending rates across tenors by 10 basis points with effect from March 1, 2023.

• Jyothy Labs: The NCLT has approved the merger of subsidiary Jyothy Fabricare Services with Jyothy Labs.

• Laxmi Organic Industries: Satej Nabar has resigned as the executive director and chief executive officer to pursue his personal interests, effective close of business hours on April 2, 2023. Rajan Venkatesh has been appointed as managing director and chief executive officer of the company for five years, effective April 3, 2023. Ravi Goenka will step down as the managing director of the company and will be re-designated as the chairman, with effect from April 3.

• Jammu and Kashmir Bank: The compensation committee of the bank will meet on March 4 to consider and approve J&K Bank Employee Stock Purchase Scheme, 2023 including determination of issue price.

• Gallantt Ispat: Promoter group Maanaav Dineshkumar Agarwal bought 10,200 shares on Feb. 24.

• Sobha: Promoter Puthan NC Menon bought 20,000 shares on Feb. 24.

• Price Band Revised From 10% To 5%: Tata Teleservices (Maharashtra)

• Ex-Date Right Issue of Equity Shares with Warrants: Share India Securities

• Record Date Right Issue of Equity Shares with Warrants: Share India Securities

• Move Out Of Short-Term ASM Framework: Nucleus Software Exports.

• HEG: To meet investors and analysts on Feb. 28.

• Arvind SmartSpaces: To meet investors and analysts on Feb. 28.

• Century Textiles and Industries: To meet investors and analysts on March 2.

• UltraTech Cement: To meet investors and analysts on Feb. 28.

• Nifty March futures ended at 17,509 a discount of 50.25 points.

• Nifty March futures rose 5.78% and 12,131 shares in Open Interest.

• Nifty Bank March futures ended at 40,600 a premium of 428 points.

• Nifty Bank March futures fell 4.40% and 4,729 shares in Open Interest.

• Securities added to the ban period: Nil

• Securities removed from the ban period: Nil.

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