Stocks To Watch: Paytm, Vedanta, Adani Enterprises, Tech Mahindra, Vodafone Idea, SBI

Asian markets are poised for a cautious open after the U.S. equities closed lower, rounding out a turbulent month that saw global stocks drop about 3%.

The S&P 500 and Nasdaq 100 both dropped in February while an index of dollar strength had its first monthly gain since September as investors recalibrated for a higher likely peak in US interest rates. The dollar held little changed in early Asian trading.

Meanwhile, the yield on 10-year Treasuries advanced to 3.94%. Crude prices were trading around $83-mark, while Bitcoin was trading below 23,500-level.

At 6:15 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was down 0.19% at 17,366.

The domestic benchmark indices continued their downward trend to close in the red for the eighth day in a row after erasing marginal gains from opening trade.

Rupee snapped its two-day decline against the U.S. dollar to close higher over hopes of RBI intervention and a pause in the greenback’s rally.

Overseas investors in Indian equities remained net sellers for the fifth day in a row on Tuesday. Foreign portfolio investors offloaded equities worth Rs 4,559.21 crore, while the domestic institutional investors were net buyers for the fifth day in a row and mopped up stocks worth Rs 4,609.87 crore.

• One97 Communications Ltd.: The parent company of Paytm told the exchanges that it is not part of any negotiations where major stakeholders are planning to offload shares of the company in the open market. 

• Vedanta Ltd.: In a filing to Singapore Stock Exchange, Vedanta Resources, which owns a majority stake in the company, assured that it is capable of meeting its upcoming maturities in the quarter ending June 2023. The company said it is in an advanced stage to secure a fresh loan of $1 billion, as well as close to finalise $750 million bilateral facilities with various relationship banks. 

• Adani Enterprises Ltd.: The company's subsidiary Mundra Aluminium has been granted the Kutrumali bauxite block located in Kalahandi and Rayagada districts of Odisha. The mineral block has 128 million tonnes of bauxite reserves. 

• Adani Ports and Special Economic Zone Ltd.: S&P Global affirmed its 'BBB-' rating for Adani International Container Terminal Pte. Ltd., a 50:50 joint venture of the company with Terminal Investment Ltd. The outlook is stable. 

• Reliance Industries Ltd.: The company incorporated a wholly owned subsidiary named Reliance SOU to develop properties for commercial use. 

• Aditya Birla Capital Ltd.: The company collaborated with the National Payments Corporation of India to develop and promote digital payment methods through subsidiaries for its customers. 

• Zydus Lifesciences Ltd.: The company received final approval from US FDA for 2.5 mg and 5 mg variations of Apixaban tablets. The company also received US FDA approval for Olmesartan Medoxomil and Hydrochlorothiazide tablets. 

• Tech Mahindra Ltd.: The company said in a statement that it has expanded its partnership with Microsoft as an Azure Operator Nexus Ready Systems Integrator. The collaboration will allow telecom operators and enterprises to build, host and operate LTE and 5G networks by using virtualised or containerised network functions leveraging Azure Operator Nexus. 

• Bank of India: The bank will hike its lending rates for 1-month, 3-month, 6-month, 1-year and 3-year tenors by 10 basis points from March 1. 

• HDFC Ltd.: The company’s subsidiary HDFC Investments will sell 34,146 shares (2.05% shareholding) of Softcell Technologies Global Pvt. Ltd. for Rs 2.05 crore to an undisclosed buyer, bringing down its shareholding to 9.95%. The housing finance NBFC increased its retail prime lending rate on housing loans by 25 basis points, effective March 1, 2023. 

• Tata Power Ltd.: The board of subsidiary Tata Power Renewable Energy approved the allotment of 20 crore compulsorily convertible preference shares worth Rs 2,000 crore on a preferential basis to GreenForest New Energies Bidco. 

• Max Ventures and Industries Ltd.: The NCLT has approved the resolution plan submitted by the company’s real estate arm Max Estates for development of a commercial plot measuring 34,697 square meters in Noida under the project name Delhi One. Max Estates also received the completion certificate for Max Square, a Grade A+ greenfield development in Sector 129, Noida with net leasable area of 6.7 lakh square feet. 

• NTPC Ltd.: The company completed transfer of 15 renewable energy assets to subsidiary NTPC Green Energy. The power company also transferred 100% shareholding in subsidiary NTPC Renewable Energy to NTPC Green Energy. 

• Bharat Electronics Ltd.: The defence PSU signed a frame supply agreement with Nagpur-based Thales Reliance Defence Systems for the manufacture and supply of transmit/receive modules, radar line replaceable units and micro modules. 

• State Bank of India: The bank concluded a $1-billion syndicated social loan, with $500 million of primary issue and another $500 million in greenshoe option. This is the first social loan raised by the bank. 

• Hathway Cable and Datacom Ltd.: Rajan Gupta resigned as the managing director of the company, effective March 9, 2023. 

• Power Grid Corp.: The company has been declared a successful bidder to establish an inter-state transmission system for Khavda Pooling Station-3 in Khavda RE Park on build, own, operate and transfer basis. 

• Vodafone Idea Ltd.: The board of the company allotted 4,000 optionally convertible debentures of face value of Rs 10 lakh each to ATC Telecom Infrastructure. This completes the entire transaction of issuance and allotment of 16,000 OCDs to ATC Telecom. 

• Samvardhana Motherson International Ltd.: The Company completed the acquisition of frame manufacturing and assembly assets from Daimler India Commercial Vehicles. 

• Seamec Ltd.: The company entered a charter party with HAL Offshore for charter hire of its vessel ‘Seamec Paladin’ for an ONGC contract for five years at a rate of $35,000 per day. 

• Divgi Torqtransfer Systems: The auto ancillary player will open its IPO on March 1, which will continue till March 3. The price band for the issue has been fixed at Rs 560-590 per share. The issue comprises of fresh issue of shares worth Rs 180 crore and an offer for sale of 39.34 lakh shares. The company is looking to raise around Rs 412 crore through its maiden share sale to fund its capex plans. A day before the IPO opened, Divgi raised Rs 185 crore from 12 anchor investors.

• Bombay Dyeing & Manufacturing Co.: Promoter Jehangir Nusli Wadia sold 1.37 shares on Feb. 27.

• Mukand Ltd.: Promoter group Baroda Industries bought 50,000 shares on Feb. 27.

• Zydus Wellness Ltd.: Promoter Zydus Family Trust bought 1,250 shares on Feb. 27.

• Meghmani Finechem Ltd.: Promoter and director Kishore Mehta bought 5,000 shares on Feb. 27.

• KCP Ltd.: Promoter Dr VL Indira Dutt bought 21,943 shares Feb. 27.

• Uflex Ltd.: Promoter group Flex International created a pledge of 2.90 lakh shares on Feb. 27.

• Aurobindo Pharma Ltd.: Promoter group RPR Sons Advisors and P Suneela Rani jointly created a pledge of 86 lakh shares and Axis Clinicals, Trident Chemphar and RPR Sons jointly revoked a pledge of 37.50 lakh shares between Feb 23-24.

• Jindal Steel & Power Ltd.: Promoter group Siddeshwari Tradex released a pledge of 14.75 lakh shares on Feb 24.

• Biocon Ltd.: Integrated Core Strategies (Asia) bought 80.62 lakh shares (0.67%) at Rs 229.26 apiece.

• Suryoday Small Finance Bank Ltd.: Geeta Chetan Shah bought 10.5 lakh shares (1%) at Rs 97.38 apiece.

• Price Band Revised From 5% To 20%: Alok Industries Ltd.

• Ex-Date Interim Dividend: Ujjivan Small Finance Bank Ltd.

• Record Date Interim Dividend: Ujjivan Small Finance Bank Ltd.

• Move Into Short-Term ASM Framework: Olectra Greentech Ltd., Uflex Ltd.

• Indiabulls Housing Finance Ltd.: To meet investors and analysts on March 1.

• Crisil Ltd.: To meet investors and analysts between March 6 and 13.

• Five-Star Business Finance Ltd.: To meet investors and analysts on March 1 and 2.

• Kajaria Ceramics Ltd.: To meet investors and analysts on March 2.

• Eicher Motors Ltd.: To meet investors and analysts on March 1 and 2.

• Persistent Systems Ltd.: To meet investors and analysts on March 1.

• Jindal Stainless Ltd.: To meet investors and analysts on March 1.

• Aurobindo Pharma Ltd.: To meet investors and analysts on March 1.

• Nifty March futures ended at 17,406.05 a discount of 91.90 points.

• Nifty March futures rose 5.84% and 12,973 shares in Open Interest.

• Nifty Bank March futures ended at 40,490 a premium of 57.70 points.

• Nifty Bank March futures fell 0.99% and 1,014 shares in Open Interest.

• Securities added to the ban period: Nil

• Securities removed from the ban period: Nil

• Divgi TorqTransfer Systems IPO - Niche Auto Ancillary Player In Transmission System: ICICI Direct

• Harsha Engineers International - Uncaging New Avenues For Growth: Prabhudas Lilladher Initiates Coverage

• Dr. Reddy’s Labs - Mayne’s Portfolio To Enhance Its U.S. Generics Offering: Motilal Oswal

• Cyient - The Proposed Listing Of The Design Led Manufacturing May Lead To Value Unlocking: HDFC Securities

• NMDC Steel - Favorable Risk-Reward: Systematix

• IT Sector- U.S., EU Retailers Continue To Focus On Cost Optimisation, Digital Transformation: ICICI Securities

• MapMyIndia - Marquee Client Base; Asset Light Model, New Orders To Command Premium Valuations: HDFC Securities

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