Stocks To Watch: JM Financial, JSW Energy, Wipro, IRCTC, NHPC, ONGC

JM Financial Products Ltd. will be a key stock to watch on Wednesday after the Reserve Bank of India directed it to stop any form of financing against shares and debentures with immediate effect. This includes the sanction and disbursal of loans against the initial public offer of shares as well as against subscriptions to debentures.

JSW Energy Ltd.’s step-down unit signed a battery energy storage purchase agreement with Solar Energy Corp.

Share indices in Asia-Pacific region declined in early trade on Wednesday, tracking overnight losses on Wall Street leady by index-heavy tech giant companies.

The Nikkei 225 was trading 151.60 points or 0.38% down at 39,946.03, and the S&P ASX 200 was 23.20 points or 0.30% down at 7,701.00 as of 06:40 a.m.

U.S. stocks came under pressure as a trio of tech heavyweights slid, with traders wading through mixed economic data in the run-up to Jerome Powell’s testimony to Congress, reported Bloomberg.

The S&P 500 Index and Nasdaq composite fell by 1.02% and 1.65%, respectively, as of Tuesday. The Dow Jones Industrial Average settled 1.04% lower.

Brent crude was trading 0.92% lower at $82.04 a barrel. Gold was lower by 0.06% at $2,126.80 an ounce.

The GIFT Nifty was trading 10.5 points or 0.05% down at 22,415.50 as of 06:41 a.m.

India's benchmark stock indices ended lower on Tuesday, snapping four days of gains, weighed by losses in Infosys Ltd. and Bajaj Finance Ltd.

The NSE Nifty 50 settled 49.3 points, or 0.22%, lower at 22,356.3, and the S&P BSE Sensex declined 195.16 points, or 0.26%, to end at 73,677.13.

The Nifty hit an intraday low of 22,269.15, and the Sensex touched 73,412.25 earlier in the session.

Overseas investors became net buyers of Indian equities on Tuesday.

Foreign portfolio investors bought stocks worth Rs 574 crore; domestic institutional investors remained net buyers for the third day and mopped up equities worth Rs 1,835 crore, the NSE data showed.

The Indian rupee closed flat at 82.89 against the U.S. dollar.

• JM Financial: The Reserve Bank of India directed the company to stop any form of financing against shares and debentures with immediate effect. This includes the sanction and disbursal of loans against the initial public offer of shares as well as against subscriptions to debentures.

• JSW Energy: The company’s step-down unit signed a battery energy storage purchase agreement with Solar Energy Corp. for 250 MW/500 MWh of battery energy storage systems. The company has signed an agreement for the first project out of the total awarded project capacity of 500 MW/1,000 MWh.

• NHPC: The company started work on Jalaun Ultra Renewable Energy Power Park in Uttar Pradesh. The company’s unit is to invest Rs 800 crore in a 1,200 MW renewable power park to be constructed in 24 months and generate 2,400 MU of electricity every year.

• Wipro: The company acquired a 27% stake in B2B sales platform SDVerse LLC for $5.85 million in cash. The transaction will be completed before the end of March. General Motors, Magna, and Wipro have teamed up to develop SDVerse LLC.

• Aditya Birla Fashion: Caladium Investment exercised the right to convert all 6.6 crore warrants into equity shares.

• IRCTC: The company signed a MoU with Swiggy to provide pre-ordered meals via IRCTC e-Catering Services.

• Sanghvi Movers: The board approved the incorporation of a wholly owned unit.

• Sonata Software: The company will open a delivery centre in Poland to address the growing demands from its global clients.

• Force Motors: The company produced 2,987 vehicle units for the month of February and sold 2,366 units domestically.

• ONGC: The board approved an additional investment of Rs 99 crore in unit ONGC Green.

• Indian Hotels: The company invested Rs 35 crore in its unit through the right issue.

• Bharat Forge: The company had made an investment of Rs 179.9 crore in its unit, Bharat Forge Global Holding.

• Havells India: The company plans to add kitchen appliances to its portfolio, outsource the entire range of products and serve the domestic market.

• Bank of India: The bank invests Rs 60.35 crore in the National Asset Reconstruction Company under preferential share issuance. The bank stake in NARCL will remain at 9% after the allotment of new shares.

• Indiabulls Real Estate: The company believes MIDC's order to vacate a 512.1-hectare plot in Nashik SEZ in a month is unlawful and is evaluating legal options to defend itself.

• REC: The board will meet on March 16 to consider an interim dividend.

• Bharti Airtel: The telco approved the allotment of 56.8 lakh shares to FCCB holders at a conversion rate of Rs 518 per share.

• CESC: The company’s unit, Crescent Power, acquired a 100% stake in Purvah Green Power.

• Centum Electronics: The company received an order worth Rs 187 crore from DRDO for the realisation of space-based EW payloads.

• R K Swamy: The public issue was subscribed to 6.01 times on day 2. The bids were led by non-institutional investors (9.71 times), retail investors (18.31 times), and institutional investors (0.37 times).

• JG Chemicals: The public issue was subscribed to 2.47 times on day 1. The bids were led by non-institutional investors (2.9 times), retail investors (3.64 times), and institutional investors (0.02 times).

• Gopal Snacks: The company will offer its shares for bidding on Wednesday. The price band is set from Rs 381 to Rs 401 per share. The Rs 650 crore IPO is completely an offer-for-sale issue. The company has raised Rs 194 crore from anchor investors.

• TD Power Systems: BNP Paribas Arbitrage sold 46 lakh shares (2.94%), and Vittoria Fund-Oc,Lp bought 46 lakh shares (2.94%) at Rs 320.5 apiece.

• Aavas Financiers: Lake District Holdings sold 58.39 lakh shares (7.38%), Partners Group sold 41.57 lakh shares (5.25%), SBI Mutual Fund bought 63 lakh shares (7.96%), and Amansa Holdings bought 23.59 lakh shares (2.98%) at Rs 1370 apiece.

• Usha Martin: Promoter Peterhouse Investments sold 2.5 lakh shares on March 5.

• ADF Foods: Promoter Krish Bhavesh Thakkar bought 30,000 shares between March 1 and 2.

• Safari Industries: To meet analysts and investors on March 8.

• Jubilant Pharmova: To meet analysts and investors on March 12.

• Cyient DLM: To meet analysts and investors on March 14.

• Kotak Mahindra Bank: To meet analysts and investors on March 11 and 12.

• Welspun Corp: To meet analysts and investors on March. 18.

• Krsnaa Diagnostics: To meet analysts and investors on March 7.

• Welspun Corp: To meet analysts and investors on March. 28.

• Infosys: To meet analysts and investors on March 13.

• Ex/record dividend: DCM Shriram, Marico.

• Moved into short-term ASM framework: Dishman Carbogen Amcis.

• Moved out short-term ASM framework: Yasho Industries.

• Nifty March futures down by 0.27% to 22,433.25 at a premium of 76.95 points.

• Nifty March futures open interest down by 4%.

• Nifty Bank March futures up by 0.45% to 47,909.05 at a premium of 328.05 points.

• Nifty Bank March futures open interest up by 9.23.

• Nifty Options March 7 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 22,200.

• Bank Nifty Options March 6 Expiry: Maximum Call Open Interest at 49,000 and Maximum Put open interest at 46,000.

• Securities in ban period: Zee Entertainment Enterprises.