GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a muted opening. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded marginally higher as the index was up 10.00 points or 0.04% at 22,423.50 indicating a subdued start for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 lost 160.90 points or 0.72% to settle at 22,332.65, while the BSE Sensex closed 616.75 points or 0.83% lower at 73,502.64.

Stocks to watch on March 12, 2024

Triveni Engineering & Industries 

Stocks To Watch: Zomato, Paytm, RVNL, Zen Technologies, Alkem Laboratories Stocks To Watch: Zomato, Reliance Industries, L&T, Ola Electric, Cyient DLM, Petronet LNG, Genus Power Stocks To Watch: Hindalco, Godrej Consumer Product, Apollo Tyres, Radico Khaitan, NHPC, Maruti Suzuki, Eicher Motors, LIC Stocks To Watch: Realty Stocks, Lupin, Tata Power, PB Fintech, SBI, Suzlon Energy, Godrej Consumer, ABFRL

Triveni Engineering & Industries announced acquiring a 25.43% stake in Sir Shadi Lal Enterprises Limited. “Pursuant to a Share Purchase Agreement executed with Vivek Viswanathan and Radhika Viswanathan Hoon on January 30, 2024, the company has on March 11 acquired a 25.43% equity stake in SSEL for an aggregate consideration of Rs 35 crore, i.e. for Rs 262.15 per equity share of SSEL,” it said in a statement. 

L&T Finance

L&T Finance, L&T Infra Credit among 7 NBFCs surrendering license to RBI. On March 12, the Reserve Bank of India (RBI) has announced that seven Non-Banking Financial Companies (NBFC) have surrendered their Certificate of Registration (CoR).

ITC

British American Tobacco is evaluating a possible disposal of a “small part” of its shareholding in India’s ITC through an on-market block trade, said on Monday. BAT had announced in February that it was “actively working” to reduce its roughly 29% stake in the Kolkata, India-headquartered company which has interests in segments ranging from hotels to consumer packaged goods.

LTIMindtree

Restructuring of Citibank, one of the top two clients of LTIMindtree, and churn at the latter’s top management has put the sixth largest Indian IT firm at a greater risk of loss in wallet share compared to other IT companies, say analysts.

Aditya Birla

Aditya Birla Capital Limited on Monday announced that its board of directors have approved the merger of Aditya Birla Finance Limited, its wholly owned subsidiary, with the company. The amalgamation is subject to regulatory and other approvals as may be required, it said in a regulatory filing.

Vedanta

Govt declines Vedanta’s plan to demerge HZL. The Centre has opposed Vedanta-controlled Hindustan Zinc’s plan to demerge into three separate entities dealing with zinc & lead, silver, and recycling businesses, saying reorganisation would lead to “unnecessary complications” without adding much value. 

Adani Green Energy 

Adani Green Energy, the renewable energy arm of the Adani Group, intends to add 30 gigawatts of operating capacity at its Khavda plant in Gujarat by FY29, even as it operationalised 1 GW of solar energy at the facility.

Bharti Airtel

Bharti Airtel is expected to spend the highest among all operators in the upcoming spectrum auction in May, thereby piping Jio and Vodafone Idea, analysts said. This is because besides acquiring the spectrum which is up for renewal, Airtel is expected to acquire additional spectrum in 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, and 2300 MHz, analysts said.

GAIL

Rising natural gas transmission volumes, new gas transmission pipelines, and improvement in profitability of the petchem segment is expected to boost state-owned GAIL’s profitability during FY24 to FY26, according to analysts.

Imagicaaworld Entertainment 

On Monday, Imagicaaworld Entertainment said it will set up a new destination at Sabarmati riverfront in Ahmedabad at an investment of Rs 130 crore. The park will be set up across 11 acres of land, which will be on lease from Sabarmati Riverfront Development Corporation Ltd for 30 years, extendable for a further period on mutually agreed terms, Imagicaaworld Entertainment said in a regulatory filing.

Wipro 

Wipro has expanded its partnership with Nutanix Inc., a hybrid multi-cloud computing company, to launch a new Nutanix-focused business unit. Together, they will help mutual clients accelerate their digital and hybrid multi-cloud journeys and maximize the value of their Nutanix Cloud investments.

PSP Projects 

PSP Projects has received various new work orders worth Rs 410.06 crore (excluding taxes) for the construction of a fintech building from Gujarat International Finance Tec-City Company Limited at GIFT City, Gandhinagar.