Stocks To Watch: Adani Green Energy, Natco Pharma, Pidilite Industries, Alembic Pharma, MOIL

Asian markets were set to advance on Friday after dovish comments from U.S. policymaker led stocks to snap two days of losses.

The S&P 500 jumped the most in more than two weeks after Federal Reserve Bank of Atlanta President Raphael Bostic said that the central bank could be in a position to pause rate hikes sometime this summer. The Nasdaq 100 also rose as equity investors considered Bostic’s comments somewhat dovish.

Meanwhile, the yield on 10-year Treasuries advanced to 4.07%. Crude prices were trading around $84-mark, while Bitcoin was trading below 23,500-level.

At 6:20 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.63% at 17,464.

The domestic benchmark indices snapped their eight-day-long losing streak supported by the rally in metal and bank stocks.

Foreign investors in Indian equities turned net buyers on Thursday, ending a six-day selling streak and piling in the third highest single-day inflow. FPIs bought equities worth Rs 12,770.8 crore, the largest after Rs 17,205.2 crore on May 6, 2020 and Rs 16,355.3 crore on April 21, 2015, according to Bloomberg data.

Domestic institutional investors were net buyers for the seventh day in a row and mopped up stocks worth Rs 2,128.8 crore.

• Adani Green Energy: The company’s 700 MW wind-solar hybrid plant in Jaisalmer, Rajasthan became fully operational, taking its operating wind-solar hybrid portfolio to 2,140 MW. The facility has a power purchase agreement at Rs 3.24 per kwh for 25 years.

• Alembic Pharmaceuticals: The company will take an impairment charge of Rs 1,150.43 crore on three manufacturing facilities under construction in Gujarat. The three plants are expected to take a hit to their profitability and generate less cash than expected.

• Happiest Minds Technologies: The board approved allotment of 12,500 non-convertible debentures on private placement basis to raise Rs 125 crore.

• Indian Bank: The bank will increase its lending rates across the board in the range of 5-10 basis points, effective March 3, 2023.

• MOIL: The company recorded 10% jump year-on-year during February in production of manganese ore at 1.31 lakh tonnes, while sales increased 19% on-year to 1.32 lakh tonnes.

• Karnataka Bank: The bank appointed Abhishek Sankar Bagchi as its chief financial officer, with effect from March 2, 2023.

• Pidilite Industries: The company investment additional Rs 10 crore in Buildnext Construction Solutions, taking its stake to 24.15%.

• Natco Pharma: The board of the company will meet on March 8 to consider a share buyback.

• Hindustan Petroleum Corporation: The company issued 1 lakh debentures on private placement basis to raise Rs 1,650 crore.

• India Grid Trust: The company completed the acquisition of 49% of paid-up capital and management control of Khargone Transmission Ltd. from Sterlite Power Transmission for Rs 1,497.5 crore.

• Mahindra & Mahindra Financial Services: February 2023 Business Updates:

  1. Total disbursement increased 53% on-year to Rs 4,185 crore.

  2. Collection efficiency faltered to 97%, compared to 98% a year ago.

  3. Adequate liquidity buffer to cover funds requirements for three months.

Divgi Torqtransfer Systems: Retail investors led demand on the second day as the issue was subscribed 0.38 times or 38%. The retail portion was subscribed 1.56 times, whereas the non-institutional investors placed bids for 22% of the basket reserved for them. The QIB portion was subscribed 6% by the end of Day 2.

• Adani Green Energy: Active Emerging Markets Equity Fund bought 11.14 lakh shares (0.07%), Care Super bought 2.67 lakh shares (0.02%), Employees Retirement System of Texas bought 1.57 lakh shares (0.01%), General Organization for Social Insurance bought 5.76 lakh shares (0.04%), Goldman Sachs bought 11,379 shares, GQG Partners bought 4.7 crore shares (3%), New York State Common Retirement Fund bought 6.42 lakh shares 0.04%), Reliance Trust Institutional Retirement Trust bought 37.8 lakh shares (0.24%), Construction and Building Unions Superannuation Fund bought 2.03 lakh shares (0.01%), VantageTrust III Master Collective Investment Funds Trust bought 2.69 lakh shares (0.02%), AustralianSuper bought 15.52 lakh shares (0.1%), SB Adani Family Trust sold 5.56 crore shares (3.51%) at Rs 504.6 apiece.

• Adani Ports and Special Economic Zone: Active Emerging Markets Equity Fund bought 16.47b lakh shares (0.08%), AustralianSuper bought 22.94 lakh shares (0.1%), Care Super bought 3.94 lakh shares (0.02%), Employees Retirement System of Texas bought 2.7 lakh shares (0.01%), General Organization For Social Insurance bought 8.52 lakh shares (0.04%), Goldman Sachs bought 18,344 shares, GQG Partners bought 3.87 crore share (3.47%), New York State Common Retirement Fund bought 11.05 lakh shares (0.05%), Reliance Trust Institutional Retirement Trust bought 62.56 lakh shares (0.3%), Construction And Building Unions Superannuation Fund 3.01 lakh shares (0.01%), VantageTrust III Master Collective Investment Funds Trust bought 4.54 lakh shares (0.02%), SB Adani Family Trust sold 8.86 crore shares (4.1%) at Rs 596.2 apiece.

• Adani Transmission: GQG Partners bought 2.4 crore shares (2.15%), VantageTrust III Master Collective Investment Funds Trust bought 96,767 shares(0.01%), Active Emerging Markets Equity Fund bought 7.17 lakh shares (0.06%), AustralianSuper bought 9.99 lakh shares (0.09%), Care Super bought 1.72 lakh shares (0.02%), Employees Retirement System of Texas bought 57,162 shares, General Organization For Social Insurance bought 3.71 lakh shares (0.03%), Goldman Sachs bought 4,219 shares, New York State Common Retirement Fund bought 2.34 lakh shares (0.02%), Reliance Trust Institutional Retirement Trust bought 16.64 lakh shares (0.15%), Construction And Building Unions Superannuation Fund bought 1.31 lakh shares (0.01%), SB Adani Family Trust sold 2.84 crore shares (2.55%) at Rs 668.4 apiece.

Adani Enterprises: SB Adani Family Trust sold 3.87 crore shares (3.39%), GQG Partners bought 2.42 crore shares (2.12%) at Rs 1,408.25 apiece.

• Mukand: Promoter group Baroda Industries bought 4.85 lakh shares between Feb. 28- March 1.

• Deepak Nirite: Promoter Deepak C Mehta bought 8,500 shares on Feb. 28.

• Zydus Wellness: Promoter Zydus Family Trust bought 1,688 shares on March 1.

• Choice International: Promoter group Patodia Properties bought 3.80 lakh shares on March 2.

• Sobha: Promoter Puthan NC Menon 10,000 shares on March 01.

• Supriya Lifesciences: Promoter Satish Waman Wagh bought 10,000 shares on Feb. 28.

• KCP: Promoter VL Indira Dutt bought 8,057 shares on Feb. 28.

• Chambal Fertiliser: Promoter Zuari Industries created a pledge of 2 lakh shares on Feb.27.

• Emami: Promoter group Suraj Finvest created a pledge of 25 lakh shares and released a pledge of 2 lakh shares, promoter group Diwakar Finvest created 3 lakh shares and released a pledge of 20 lakh shares, betweeb Feb 27 and March 1.

• Ex-Date EGM: Responsive Industries

• Move Out Of Short-Term ASM Framework: Universal Cables

• Sterling and Wilson Renewable Energy: To meet investors and analysts on March 3.

• Fineotex Chemical: To meet investors and analysts on March 3.

• Grasim Industries: To meet investors and analysts on March 3.

• Angel One: To meet investors and analysts on March 3.

• Eicher Motors: To meet investors and analysts on Mar 3-6.

• Dreamfolks Services: To meet investors and analysts on March 3.

• IIFL Finance: To meet investors and analysts on March 3.

• Adani Green Energy: To meet investors and analysts on March 3.

• Adani Transmission: To meet investors and analysts on March 3.

• Aptus Value Housing Finance India: To meet investors and analysts on March 3.

• Nifty March futures ended at 17,388 a discount of 144.70 points.

• Nifty March futures rose 2.95% and 6,770 shares in Open Interest.

• Nifty Bank March futures ended at 40,565.05 a discount of 345.40 points.

• Nifty Bank March futures fell 4.83% and 4,779 shares in Open Interest.

• Securities added to the ban period: Nil

• Securities removed from the ban period: Nil

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Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.