Stocks To Watch: Vodafone Idea, Axis Bank, Zee, Hindustan Zinc, SJVN, Indostar Capital, Titan, ONGC

Vodafone Idea Ltd., Axis Bank Ltd. and Zee Entertainment Enterprises Ltd. will be among the major stocks to watch on Wednesday.

The board of Vodafone Idea has approved a fundraise plan of Rs 20,000 crore via equity while the Reserve Bank of India has approved the appointment of Munish Sharda as executive director and full-time director of Axis Bank.

Zee Entertainment Enterprises has expanded the scope of its recently constituted independent advisory committee to include an investigation to review the allegations levelled by regulators and other parties.

Markets in Asia-Pacific region mostly declined in early trade on Wednesday, as Federal Reserve official said there's no hurry to cut interest rates.

The Nikkei 225 was trading 28.10 points or 0.1% lower at 39,211.42, and the S&P ASX 200 was 23.90 points or 0.31% lower at 7,639.10 as of 6:30 a.m.

Federal Reserve Governor Michelle Bowman said that it's too soon to begin rate cuts, and reiterated her view that inflation will continue to further with the current level of interest rates, Bloomberg reported.

Investors in the region will also closely monitor the outcome of Reserve Bank of New Zealand's policy decision.

Wall Street witnessed another busy session of bond sales as issuers looked to borrow before key U.S. PCE data due later this week, reported Bloomberg.

The S&P 500 Index and the Nasdaq Composite rose by 0.17% and 0.37%, respectively as of Tuesday. The Dow Jones Industrial Average fell by 0.28%.

Brent crude was trading 1.36% higher at $83.65 a barrel. Gold was down by 0.03% to $2,029.93 an ounce.

India's benchmark stock indices closed higher, snapping a two-day decline in a choppy trading session on Tuesday, led by gains in Tata Consultancy Services Ltd. and Tata Motors Ltd.

The NSE Nifty 50 settled 76.30 points, or 0.34%, higher at 22,198.35, and the S&P BSE Sensex gained 305.09 points, or 0.42%, to end at 73,095.22. The Nifty hit an intraday high of 22,218.25, and the Sensex touched 73,161.30.

Overseas investors remained net sellers of Indian equities on Tuesday for the second consecutive session.

Foreign portfolio investors offloaded stocks worth Rs 1,509.2 crore, domestic institutional investors remained buyers and bought equities worth Rs 2,861.6 crore, the NSE data showed.

The Indian rupee closed flat at 82.90 against the U.S. Dollar.

• Vodafone Idea: The board has approved a fundraise plan of Rs 20,000 crore via equity as the debt-laden telecom operator keeps the hunt on for new investors and fund rollout of 5G. The promoters will also participate in the proposed equity raise.

• Axis Bank: The Reserve Bank of India has approved the appointment of Munish Sharda as executive director and full-time director of the company.

• Zee Entertainment Enterprises: The company has expanded the scope of its recently constituted independent advisory committee to include an investigation to review the allegations levelled by regulators and other parties.

• Hindustan Zinc: The company incorporated a new subsidiary to explore, discover, develop and tap critical mineral resources. It will also participate in the auctioning of mining blocks containing critical minerals.

• SJVN: The company's unit bagged a 100 MW solar power project at a tariff of Rs 2.64 per unit through competitive tariff bidding conducted by Gujarat Urja Vikas Nigam. The power purchase agreement for the same has been signed with Gujarat Urja Vikas Nigam for 25 years. The cost of Developmnent for this project is Rs 642 crore.

• GE T&D India: The company secured orders worth Rs 370 crore from Power Grid Corp. for the supply of 765 kV shunt reactors for various transmission system projects in India.

• Indostar Capital Finance: The company will raise over Rs 450 crore by preferential allotment of warrants to Brookfield AMC and Florintree Tecserv. Brookfield to invest Rs 256.6 crore, and Florintree to invest Rs 200 crore in the company.

• Mahindra and Mahindra: The company launched Thar Earth Edition starting at Rs 15.4 lakh.

• Aether Industries: The company appointed James W. Ringer as Chief Technology Officer.

• Titan: The company buys the remaining 0.36% stake in Caratlane for Rs 60.1 crore.

• Tata Elxsi: The company and Telefónica collaborate to achieve true cloud-native infrastructure management, revolutionising the telecommunications landscape.

• Ircon: The company has appointed Debajyoti Kumar as Executive Director/Technical and Vinod Kumar Gupta as Executive Director/Works of the Company.

• Allcargo Logistics: The crisis in Red Sea delayed shipments, leading to January volumes being reduced by 3%, the company said in its monthly business update. A decline in volume was witnessed in Latin America, Europe, and America. Shipment volumes in India witnessed an increase in January.

• Persistent Systems: The company has dissolved its step-down subsidiary, Persistent Systems S.R.L., Italy.

• Uttam Sugar Mills: The company acquired a majority stake in Uttam Distillers, making it a subsidiary.

• Exide Industries: The company invested Rs 24.99 crore in its wholly owned subsidiary, Exide Energy Solutions, on a rights basis. The total investment stands at Rs 1,925 crore.

• Cochin Shipyard: The company will inaugurate a hydrogen fuel cell ferry in virtual mode from Thoothukudi.

• ONGC: The company will establish ONGC Green as a wholly-owned subsidiary focusing on renewable energy and green hydrogen value chains.

• Texmaco Rail and Engineering: The company approved raising funds via the issuance of convertible warrants for up to Rs 150 crore via the issue of convertible warrants by way of preferential issue.

• Salasar Techno Engineering: The company bagged an order valued at over Rs 200 crore from Zetwerk Business for the supply of 25,000 MT of solar structures.

• Jaiprakash Associates: The company executed a non-binding term sheet for the restructuring of bonds.

• Control Print: The company further invested €1 million in unit Control Print B.V.

• Tanla Platforms: The company and Truecaller extend an exclusive partnership to deliver customised solutions to enterprises.

• Juniper Hotels: The company's shares will debut on the stock exchanges on Wednesday at an issue price of Rs 360 apiece. The Rs 1,800 crore IPO was subscribed 2.08 times on its third and final day. Bids were led by institutional investors (2.96 times), retail investors (1.28 times), non-institutional investors (0.85 times).

• Bharat Highways: The company will offer its shares for bidding on Wednesday. The price band is set from Rs 98 to Rs 100 per share. The 2,500 crore IPO is a completely fresh issue. The company has raised 826 crore from anchor investors.

• Platinum Industries: The public issue was subscribed to 8.06 times on day 1. The bids were led by non-institutional investors (13.60 times), retail investors (10.26 times), and institutional investors (0.07 times).

• Exicom Tele-Systems: The public issue was subscribed to 10.02 times on day 1. The bids were led by retail investors (27.17 times), non-institutional investors (19.04 times), and institutional investors (0.73 times).

• ICICI Lombard General Insurance: Bharti Enterprises sold 62.5 lakh shares (1.27%) while ICICI Bank bought 62.5 lakh shares (1.27%) at Rs 1,666.35 apiece.

• CMS Info Systems: Sion Investment Holdings PTE. sold 417.71 lakh shares (26.68%) at Rs 370.38 apiece at Rs 393.93 apiece while, Nomura Funds Ireland Public Coindia Equity Fund bought 43.1 lakh shares (2.75%) at Rs 370.05 apiece, Kotak Mahindra Mutual Fund A/C - Kotak Small Cap Fund bought 36.25 lakh shares (2.31%) at Rs 370.05 apiece, WF Asian Reconnaissance Fund bought 26.25 lakh shares (1.67%) at Rs 370.05 apiece, ICICI Prudential Mutual Fund bought 56.10 lakh shares (3.56%) at Rs 370.05 apiece, Think India Opportunities Master Fund LP bought 13.81 lakh shares (0.88%) at Rs 370.05 apiece, Mathew Cyriac bought 12.82 lakh shares (0.81%) at Rs 370.67 apiece, Sanatan Financial Advisory Services bought 10 lakh shares (0.63%) at Rs 375.5 apiece and among others.

• BLS International Services: Columbia Petro Chem bought 21 lakh shares (0.51%) at Rs 373.1 apiece.

• Sapphire Foods: WTCNAM Common Trust Funds Trust Emerging Markets Opportunities Portfolio sold 3.25 lakh shares (0.51%) at Rs 1497.08 apiece.

• Senco Gold: Saif Partners India IV sold 6 lakh shares (0.77%) at Rs 875.08 apiece.

• Usha Martin: Promoter Peterhouse Investments India sold 2 lakh shares on Feb. 26.

• Time Technoplast: Promoter Time Securities Services bought 1.21 lakh shares on Feb. 27.

• Adani Green Energy: To meet analysts and investors on March 1, 4 and 11.

• Havells India: To meet analysts and investors on March 4, 5 and 12.

• Crompton Greaves Consumer Electricals: To meet analysts and investors on March 4.

• Escorts Kubota: To meet analysts and investors on March 4.

• UltraTech Cement: To meet analysts and investors on Feb. 28.

• Ksolves: To meet analysts and investors on Feb. 28.

• Price band revised from 5% to 20%: Signpost India.

• Price band revised from 10% to 5%: Ganesh Housing.

• Ex/record bonus issue: Fiem Industries.

• Moved into short-term ASM framework: Zaggle Prepaid Ocean Services, Yasho Industries.

• Moved out short-term ASM framework: SML Isuzu.

• Nifty February futures up by 0.25% to 22,203.05 at a premium of 4.7 points.

• Nifty February futures open interest down by 25.40%.

• Nifty Bank February futures down by 0.03% to 46,587.20 at a discount of 0.85 points.

• Nifty Bank February futures open interest down by 8.2%.

• Nifty Options Feb. 29 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 21,500.

• Bank Nifty Options Feb. 29 Expiry: Maximum Call Open Interest at 47,000 and Maximum Put open interest at 45,000.

• Securities in ban period: Aditya Birla Fashion, Canara Bank, Indus Tower, SAIL, and Zee Entertainment Enterprise.

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