Stocks To Watch: ITC, Paytm, PB Fintech, Punjab National Bank, Zomato

Here are the stocks to watch in trade today...

Snehal Galbaw

16 Mar 2022, 08:00 AM IST i

A pedestrian walks past an electronic ticker board at the BSE in Mumbai. (Photographer: Dhiraj Singh/Bloomberg

Stocks rose in Asia on Wednesday amid lower crude oil prices ahead of the looming U.S. Federal Reserve decision.

Shares advanced in Japan, South Korea and Australia. S&P 500 and Nasdaq 100 contracts fell following a rebound in Wall Street Tuesday. Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50 index, rose 1.71% to 16,937.50 points as of 6:45 am.

Treasuries were little changed ahead of the Fed decision Wednesday. The dollar was steady. Gold inched up while bitcoin slipped to $39,200.

Brent crude fluctuated after dropping below $100 a barrel. Signs that Iran nuclear talks may resume point to the possibility of more supply, while Covid-19 lockdowns in China may curb demand.

Here are the stocks to watch in trade today:

ITC: The company has acquired 1,040 compulsorily convertible preference shares worth Rs 10 each of Mother Sparsh Baby Care.
Punjab National Bank: The lender reported a fraud of Rs 2,060.14 crore in IL&FS Tamil Nadu Power Co. at a corporate branch in Delhi. The bank has already made provisions amounting to Rs 824.06 crore.
Zomato: The food-delivery firm is weighing an all-stock takeover deal for Blinkit, Bloomberg reported. Separately, it has agreed to acquire 16.66% stake in Mukunda Foods. It has also approved a $150-million loan to support its capital requirements.
One97 Communications: Munish Ravinder Varma, managing partner at SoftBank Vision Fund, has stepped down from the board of Paytm's parent firm.
PB Fintech: Munish Ravinder Varma has also exited the board of the operator of PolicyBazaar and BankBazaar.
Future Enterprises: The company has defaulted on interest of Rs 9.91 crore on non-convertible debentures that was due on March 14.
IL&FS Transportation: The company has entered into share purchase agreement with Axis Trustee Services to sell 100% of its paid-up capital of Sikar Bikaner Highways, a wholly owned subsidiary of the company, for Rs 375 crore.
Shyam Metalics: The company approved capital expenditure of Rs 990 crore to expand its Sambalpur and Jamuria facilities.
EKI Energy Services: The company is in advanced discussions with some European oil and gas majors to launch an initiative to supply free improved cook stoves to rural households.
Infibeam Avenues: The company has appointed Sunil Bhagat as the chief financial officer after Hiren Padhya’s resignation.
Sangam India: The company has received NCLT's approval to merge wholly owned subsidiary Sangarn Lifestyle Ventures with itself.
Future Retail: Non-executive director Rahul Garg has resigned.
United Spirits: Inbrew is said to emerge as lead bidder for Diageo's Indian brands.

Insider Trades

Maharashtra Seamless: Promoter Group Sudha Apparels bought 3.15 lakh shares between March 11 and March 14.
Pidilite Industries: Promoter Group AB Parekh trustee of Ruchi India Trust sold 39,000 shares on March 14.
Bajaj Holdings & Investment: Promoter Group Bachhraj & Co. bought 1.1 lakh shares between March 11 and March 14.
Vaibhav Global: Promoter Group Brett Enterprises bought 2,500 shares on March 14.
Geojit Financial Services: Promoter BNP Paribas SA sold 81,000 shares on March 10.
Divi's Laboratories: Promoter Group Divi Madhusudana Rao sold 5,000 shares on March 10.
Ramkrishna Forgings: Promoter Riddhi Portfolio bought 2,050 shares on March 14.
Strides Pharma Science: Promoter Pronomz Ventures bought 2.91 lakh shares between March 4 and March 11.
Dhani Services: Promoter Zelkova Builders bought 15 lakh shares between March 9 and March 15.
GNA Axles: Promoter Director Ranbir Singh bought 9,200 shares between Feb. 28 and March 9. Promoter Director Gurdeep Singh bought 9,400 shares between March 4 and March 9.

Block Deals

Hatsun Agro Product: Chandramogan RG bought 2.08 lakh shares (0.09% stake), Malabar India Fund sold 1.19 lakh shares (0.05% stake) and Malabar Value Fund sold 88,001 shares (0.04% stake) at Rs 1,194 apiece.
Sanghi Industries: Anandam Enterprises bought 49.98 lakh shares (1.99% stake) and Navodya Enterprises sold 49.98 lakh shares at Rs 44.5 apiece.

Trading Tweaks

Price band revised to 5%: Khaitan Chemicals And Fertilisers
Price band revised from 20% to 10%: BSE
Moved into short-term ASM framework: Dhampur Sugar Mills
Move out of short-term ASM framework: Nuvoco Vistas
Record date for face value split: Rajratan Global Wire
Record date for bonus issue: Brightcom Group
Ex-date interim dividend: Metro Brands, Shriram City Union Finance, Jindal Steel and Power Ltd.