Stocks To Watch: Vedanta, Infosys, HAL, M&M, NLC India, Mukka Proteins, Jupiter Wagons

Mining giant Vedanta will be in focus in Thursday's trade after the company said it is exploring all possible legal solutions, including the possibility of filing a review petition against the Supreme Court's decision that rejected their plea to restart operations at its copper smelter in Thoothukudi, Tamil Nadu.

A Mahindra and Mahindra promoter entity has offered to sell up to 93 lakh shares for Rs 1,832 crore, while the government plans to divest up to 9.71 crore shares in NLC India.

Mukka Proteins, whose IPO was subscribed to 136.99 times, will debut on the stock exchanges on Thursday.

Markets in Japan, South Korea, and Australia rose in early trade on Thursday, mirroring overnight moves on Wall Street after Federal Reserve Chair Jerome Powell affirmed rate cuts are likely this year.

The Nikkei 225 was trading 198.07 points or 0.49% higher at 40,288.85, and the S&P ASX 200 was 27.70 points or 0.36% higher at 7,761.20. The KOSPI was 6.45 points or 0.24% up at 2,647.94.

The S&P 500 Index and Nasdaq Composite rose by 0.51% and 0.58%, respectively, as of Wednesday. The Dow Jones Industrial Average settled 0.20% higher.

Brent crude was trading 1.12% higher at $82.96 a barrel. Gold was lower by 0.05% at $2,147.15 an ounce.

The GIFT Nifty was trading 10.5 points or 0.05% lower at 22,635.00 as of 6:34 a.m.

India's benchmark stock indices rebounded from their one-day fall to settle at record closing highs on Wednesday, led by gains in ICICI Bank Ltd. and Axis Bank Ltd.

The NSE Nifty 50 closed 117.75 points, or 0.53%, higher at 22,474.05, and the S&P BSE Sensex gained 408.86 points, or 0.55%, to end at 74,085.99.

Overseas investors remained net buyers of Indian equities on Wednesday. Foreign portfolio investors bought stocks worth Rs 2,766.7 crore; domestic institutional investors remained net buyers for the fourth day and mopped up equities worth Rs 2,149.9 crore, the NSE data showed.

The Indian currency strengthened by 7 paise to close at 82.83 against the U.S. dollar.

• Vedanta: The company is exploring all possible legal solutions, including the possibility of filing a review petition against the top court's decision that rejected the mining giant's plea to restart operations at its copper smelter in Thoothukudi, Tamil Nadu.

• Infosys: The IT major has announced the renewal of its digital innovation partnership with the ATP Tour until 2026, aimed at driving AI-first innovations in professional tennis.

• Hindustan Aeronautics: The company has signed an amendment to the LCA IOC contract. The value of the contract has been revised from Rs 2,700.87 crore to Rs 5,077.95 crore.

• Mahindra and Mahindra: Promoter Prudential Management and Services has offered to sell up to 93 lakh shares or 0.75% equity, in the company for Rs 1,832 crore.

• Bajaj Finserv: The company’s unit reported a Rs 1,294 crore general insurance gross direct premium for the month of February and a Rs 1,050 crore life insurance premium for the month of February.

• Asian Paints: The company’s unit entered into the requisite agreements with Gujarat Chemical Port to set up an ethylene storage and handling facility in Dahej, Gujarat.

• Glenmark Pharmaceuticals: The company has started the process of selling 55% of its subsidiary, Glenmark Life Sciences, to Nirma. Glenn Saldanha resigned from the position of Chairman, Non-Executive Director, effective March 6.

• Life Insurance Corp.: The insurer has increased its stake in LIC Mutual Fund from 40.93% to 44.61% through private placement.

• NLC India: The government will sell up to 9.71 crore shares, including the green shoe option, via an offer for sale at Rs 212 per share.

• Subex: The company announced it has secured a deal with a prominent telecom operator in Southeast Asia for deploying its state-of-the-art business assurance and fraud management solutions on Hyper Sense.

• OnMobile Global: The company appointed François-Charles Sirois, Executive Chairman, as CEO and Sanjay Baweja resigned from the role of ‘Global Chief Executive Officer and Managing Director’.

• Kaynes Technology India: The company’s unit signed a technology provision agreement with ISO to enable the unit to set up a supply chain for OSAT business in India.

• Jupiter Wagons: The company received an order worth Rs 956 crore from the Ministry of Railways for the manufacture and supply of 2,237 BOSM Wagons.

• Bajel Projects: Sanjay Bhagat has resigned as CEO due to personal reasons.

• Seamec: The company’s unit has decided to sell its vessel, Seamec Nidhi, to Joyo Shipping for $10.5 million.

• Cyient: The company has joined the eSync Alliance, a network of businesses focusing on automotive OTA connectivity.

• RedTape: The company incorporated REDTAPE Sports Goods in China.

• GPT Infraprojects: The company received an order worth Rs 135 crore from North Central Railway, Uttar Pradesh.

• Exide Industries: The company will invest Rs 70 crore in unit Chloride Metals to finance long-term capital requirements.

• Allcargo Gati: The company’s total monthly volume for the month of February stood at 104 kilo tonnes, up 15% YoY.

• UPL: The company’s unit, UPL Corp., signed a pact with Masarrah Investment for a manufacturing complex in Saudi Arabia.

• Vikas Lifecare: The company received a patent for a multi-layered plastic recycling process.

• Mukka Proteins: The company's shares will debut on the stock exchanges on Thursday at an issue price of Rs 28 apiece. The Rs 224 crore IPO was subscribed 136.99 times on its third and final day. Bids were led by non-institutional investors (250.38 times), institutional investors (189.28 times), and retail investors (58.52 times).

• R K Swamy: The public issue was subscribed to 25.94 times on day 3. The bids were led by non-institutional investors (34.36 times), retail investors (34.03 times), institutional investors (20.58 times) and reserved for employees (2.52 times).

• JG Chemicals: The public issue was subscribed to 6.4 times on day 2. The bids were led by non-institutional investors (9.64 times), retail investors (8.32 times), and institutional investors (0.45 times).

• Gopal Snacks: The public issue was subscribed to 0.56 times on day 1. The bids were led by non-institutional investors (0.49 times), retail investors (0.89 times), and no bids by institutional investors.

• Dollar Industries: Bajrang Kumar Gupta sold 5 lakh shares (0.88%), Fidelity Asian Values PLC bought 1.36 lakh shares (0.24%), Fidelity Funds Asian Smaller Companies Pool bought 3.63 lakh shares (0.64%) at Rs 490 apiece.    

• Zomato: Antfin Singapore Holding sold 17.63 crore shares (2.04%) at Rs 160.4 apiece, while Morgan Stanley Asia bought 5.68 crore shares (0.66%) at Rs 160.1 apiece.

• CarTrade Tech: Springfield Venture International sold 6.32 lakh shares (1.34%), MCP3 SPV LLC sold 3.16 lakh shares (0.67%) at Rs 738.5 apiece, ICICI Prudential Mutual Fund bought 6.77 lakh shares (1.44%), and ICICI Prudential Asset Management bought 2.71 lakh shares (0.57%) at Rs 738.5 apiece.

• Samvardhana Motherson International: Sumitomo Wiring Systems sold 30 crore shares (4.41%) at an average price of Rs 121.11 apiece.

• RBL Bank: Mathew Cyriac bought 32.5 lakh shares (0.54%) at Rs 250.91 apiece.

• Som Distillers and Breweries: Promoter Jagdish Kumar Arora bought 10,000 shares on March 6.

• AAVAS Financiers: Partners Group sold 41.57 lakh shares, and Lake District Holdings sold 58.39 lakh shares on March 5.

• Ramco Industries: Promoter P.R. Venketrama Raja created a pledge of 14 lakh shares on March 4.

• Supriya Lifescience: To meet analysts and investors on March 13.

• LT Foods: To meet analysts and investors on March 11.

• Global Health: To meet analysts and investors on March 9, 11 and 12.

• Wonderla Holidays: To meet analysts and investors in March 11.

• Tips Industries: To meet analysts and investors on March 12.

• Union Bank of India: To meet analysts and investors on March 14.

• Price Band changes from 10% to 5%: Ashapura Minechem.

• Price Band changes from 20% to 10%: IIFL Finance.

• Ex/record dividend: Sanofi India.

• Ex/record Stock Split: Manorama Industries.

• Moved out short-term ASM framework: Data Patterns.

• Nifty March futures up by 0.75% to 22,593.05 at a premium of 119 points.

• Nifty March futures open interest up by 9.3%.

• Nifty Bank March futures up by 0.43% to 48,117.45 at a premium of 152.05 points.

• Nifty Bank March futures open interest down by 10.3%.

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

• Bank Nifty Options March 13 Expiry: Maximum Call Open Interest at 48,000 and Maximum Put open interest at 48,000.

• Securities in the ban period: Manappuram Finance, Mahanagar Gas, Zee Entertainment Enterprise.

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• SignatureGlobal India - A Consistent Compounder; ICICI Securities Initiates Coverage With A Buy

• Greenlam Industries - Poised For Growth; Looking Beyond Laminates: HDFC Securities

• Tata Motors - Demerger To Help Investors Manage Business Cyclicality More Aptly: ICICI Securities

• FPIs Turn Net Buyers In February 2024: IDBI Capital

• Gold Loans - Valuations Turn Attractive For Both Muthoot, Manappuram Finance: ICICI Securities