Stocks To Watch: TCS, L&T Finance, Aditya Birla Sun Life AMC, Poonawalla Fincorp, Tata Steel

IT major Tata Consultancy Services Ltd. will be in focus on Tuesday as Tata Sons Pvt. is looking to sell 2.34 crore shares of the company at Rs 4,001 per share. This is at a discount of 3.46% over Monday's closing price.

L&T Finance Holdings Ltd. will raise funds in a way that NCDs issued and those outstanding do not exceed Rs 1.01 lakh crore, while two promoter entities of Aditya Birla Sun Life AMC have offered to sell up to 11.47% stake through an offer for sale to achieve the minimum public shareholding norms.

India's benchmark indices rebounded on Monday from a one-session fall to end the first session of the week higher, tracking gains in Tata Steel Ltd., Reliance Industries Ltd., and Mahindra & Mahindra Ltd.

The NSE Nifty 50 closed 32.35 points, or 0.15%, higher at 22,055.70, and the S&P BSE Sensex ended 104.99 points, or 0.14%, up at 72,748.42.

Overseas investors turned net sellers of Indian equities on Monday. Foreign portfolio investors offloaded stocks worth Rs 2,051.1 crore, while domestic institutional investors turned buyers and mopped up equities worth Rs 2,260.8 crore, the NSE data showed.

The Indian rupee weakened by 2 paise to close at Rs 82.91 against the U.S. dollar.

Shares in the Asian-Pacific region were trading under slight pressure as investors await cues from various central bank decisions over the week, starting with the Bank of Japan.

The Nikkei 225 was trading 256.30 points or 0.64% lower at 39,484.14, and the S&P ASX 200 was trading 27.66 points or 1.03% down at 2,658.18 as of 06:36 a.m.

Overnight, the U.S. stocks began the week by powering ahead with a rally in their tech stocks. Alphabet Inc. jumped on reports of its talks to build Google’s Gemini artificial intelligence engine into the iPhone. In late hours, Nvidia Corp.’s chief Jensen Huang showed off new chips aimed at extending his company’s dominance of AI computing, Bloomberg reported.

The S&P 500 index and Nasdaq 100 rose by 0.63% and 0.82%, respectively, as of Monday.

Meanwhile, the yield on the 10-year U.S. bond was trading at 4.33% and Bitcoin was above 67,100-level. Brent crude was trading flat at $86.90 a barrel, whereas WTI Crude was flat at $82.73-mark.

At 6:36 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was 23 points or 0.1% down at 22,074.00.

• TCS: Tata Sons is looking to sell 2.34 crore shares of the company at Rs 4,001 per share. Through this sale, Tata Sons will raise approximately Rs 9,362 crore or $1.13 billion.

• L&T Finance: The board approved fund raising through debentures. Funds to be raised in a way that NCDs issued and those outstanding do not exceed Rs 1.01 lakh crore.

• Adani Group stocks: The Adani Group has denied a Bloomberg report that said U.S. prosecutors have widened their probe on alleged bribery in India, calling it "false".

• Aditya Birla Sun Life AMC: Two promoter entities of Aditya Birla Sun Life AMC Ltd. have offered to sell up to 11.47% stake through an offer for sale to achieve the minimum public shareholding norms. The floor price has been set at Rs 450 per share.

• Poonawalla Fincorp: HDFC Bank veteran Arvind Kapil has been appointed as company's new managing director and chief executive officer.

• Tata Steel: Tata Steel UK has decided to cease operations of the coke ovens at the Port Talbot plant, in Wales, following a deterioration of operational stability. The company will increase imports of coke to offset the impact of the coke oven closures.

• HG Infra Engineering: The company received four orders worth Rs 1,026 crore with Stockwell Solar Services JV consortium for solar business from Jodhpur Vidyut Vitran Nigam.

• Paradeep Phosphates: The company shuts down ammonia and urea plants at Goa due to breakdown of synthesis gas compressor.

• IRCTC: The company approved Rs 187 crore project cost for disaster recovery site at Secunderabad.

• Sonata Software: The company signed joint go-to-market agreement with Zones to simplify enterprise application delivery through end-to-end cloud managed services.

• IOL Chemicals and Pharmaceuticals: The company successfully completed the Brazilian Health Regulatory Agency GMP audit of all the 10 APIs manufacturing units situated in Punjab without any observation. The inspection was conducted from March 11 to 15.

• Aegis Logistics: The company’s unit has approved the acquisition of the specialised storage terminals at Mangalore resulting in capacity addition at its facilities at Mangalore. The project will entail an investment of up to Rs 75 crore for acquired capacity and up to Rs 50 crore for additional capacity under construction.

• Signature Global: The company completed the acquisition of 100% stake in Gurugram Commercity. GCPL is now a wholly owned subsidiary of company effective today.

• TVS Supply Chain Solutions: The company has deregistered their step-down subsidiary Transtar China as part rationalisation of holding structure of foreign subsidiaries.

• JSW Steel: The company clarified that it has not made Rs 5 crore political contribution to JD(S) via electoral bonds.

• Lemon Tree: The company signed licence pact for 80-room hotel in Tripura.

• Nibe: The company received purchase order worth Rs 21 crore from Larsen and Toubro for assemblies and sub-assemblies of heavy structures including construction gabion walls.

• Popular Vehicles and Services: The company's shares will debut on the stock exchanges on Tuesday at an issue price of Rs 295 apiece. The Rs 601.55-crore IPO was subscribed 1.23 times on its third and final day. Bids were led by institutional investors (1.97 times), retail investors (1.05 times), non-institutional investors (0.66 times), and portion reserved for employees (7.59 times).

• Krystal Integrated Services: The public issue was subscribed to 13.21 times on day 3. The bids were led by institutional investors (7.33 times), non-institutional investors (43.91 times), retail investors (3.32 times).

• Repco Home Finance: S Gupta Family Investments bought 6 lakh shares (0.95%) and SG Sports sold 5 lakh shares (0.79%) at Rs 395 apiece.

• Mangalam Cement: Promoter Rambara Trading bought 40,500 shares on March 15.

• Man Infraconstruction: Promoter Mansi P. Shah bought 2.31 lakh shares on March 15.

• Satin Creditcare Network: Promoter Trishashna Holdings and Investments bought 96,533 shares on March 14.

• Nuvoco Vistas Corporation: Promoter Niyogi Enterprise bought 1.1 lakh shares on March 15.

• Sapphire: To meet analysts and investors on March 22.

• Container Corporation of India: To meet analysts and investors on March 21 and 28.

• Kirloskar Oil Engines: To meet analysts and investors on March 20.

• Lloyds Metals and Energy: To meet analysts and investors on March 19 and 22.

• OM Infra: To meet analysts and investors on March 21.

• Uniparts India: To meet analysts and investors on March 21.

• Oil India: To meet analysts and investors on March 21.

• Jai Balaji Industries: To meet analysts and investors on March 21.

• Ex/record Dividend: TVS Motor, KEI Industries, Sudarshan Chemical Industries.

• Ex/record Bonus: Rama Steel Tubes.

• Moved out of short-term ASM framework: Agro Tech Foods, Dynacons Systems and Solutions, IIFL Finance.

• Nifty March futures up by 0.01% to 22,135.45 at a premium of 79.75 points.

• Nifty March futures open interest down by 1.07%.

• Nifty Bank March futures up by 0.19% to 46,741.6 at a premium of 165.7 points.

• Nifty Bank March futures open interest down by 1.9%.

• Nifty Options March 21 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 21,000.

• Bank Nifty Options March Expiry: Maximum Call Open Interest at 47,000 and Maximum Put open interest at 45,000.

• Securities in ban period: Aditya Birla Fashion, Balrampur Chini Mills, Bharat Heavy Electricals, Biocon, Hindustan Copper, Manappuram Finance, National Aluminium, Piramal Enterprise, RBL Bank, Sail, Tata Chemical, Zee Entertainment Enterprise.

• Bajaj Finance - Medium-Term Outlook Intact; Attractive Entry Point, Reiterating A Buy: Anand Rathi

• Varun Beverages - Volume Growth Is Expected To Continue Across Segments: DRChoksey

• 360 One Wam - Growth Momentum Intact Despite Near-Term Cost Pressures: Motilal Oswal

• Hindalco - Expansion Plans To Strengthen Foothold In The Industry: Yes Securities Initiates Coverage

• Bank of Maharashtra - Arguably The Best Within The PSU Banking System: Systematix

• Oil And Gas - Outlook Improving For Oil India, Petronet LNG; Growth Faces A Hurdle At IGL: Motilal Oswal

• IT Sector Check - Price-to-Earnings Expansion Explains Entire 12-Month Upside: Nirmal Bang

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