Stocks to Watch: Adani Group, Fertilisers, HDFC Bank, Canara Bank, Suzlon Energy

Today: The key benchmark indices are likely to start trade on a bearish note tracking losses in the global . As of 06:45 AM, the SGX Nifty futures quoted at 17,477, as against the spot Nifty close of 17,656 on Tuesday.

Meanwhile, these are the stocks that are likely to see some action in trades on Wednesday.

Fertiliser sector: Government may look to privatise PSUs in the sector. According to the PSE policy, 2021, the government will look at leaving non-strategic sectors, such as fertiliser, steel and tourism, by privatising or closing PSUs. READ MORE

Adani Group: Gautam Adani’s conglomerate has cited an improved net debt to operating profit ratio and more than halving of loans from PSU banks to allay concerns about it being overleveraged. In a 15-page note in response to CreditSights report calling the group overleveraged, it said companies in the group have consistently de-levered, with the net debt to Ebitda ratio declining to 3.2 times from 7.6 times in the last nine years. READ MORE

Pidilite Industries: The stock has been a major outperformer in the consumer basket, gaining 30 per cent over the last three months, as compared to the 13 per cent gains for the BSE Fast Moving Consumer Goods, its peer index. To find out what’s working for the stock, READ ANALYSIS

Suzlon Energy: The renewable energy solution provider said that it has won an order to set up 180.6 MW wind energy project from Sembcorp’s arm Green Infra Wind Energy. The project is expected to be commissioned in 2024.

InterGloble Aviation (IndiGo): Pieter Elbers, the new chief executive officer (CEO), took charge on Tuesday. Elbers, who spent three decades at KLM Royal Dutch Airlines, replaced Ronojoy Dutta at the top post. In a note to the staff, Elbers said, the coming years will be among the most exciting of your professional lives. READ MORE

HDFC Bank: India’s largest private sector lender on Tuesday sold additional tier-1 (AT-1) bonds worth Rs 3,000 crore at a cut-off rate of 7.84 per cent – the lowest rate shelled out by any bank, so far, in FY23. Tuesday’s bond sale marks the first time that a private bank has tapped the debt capital by issuing AT-1 bonds in the current financial year.

Canara Bank: The state-run bank hiked the benchmark MCLR by up to 0.15 per cent, a move that will make loans costlier. The benchmark one-year MCLR was raised to 7.75 per cent against the earlier rate of 7.65 per cent.

Stocks in F&O ban: Delta Corp is the only stock in F&O ban period on Wednesday.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Comments are closed.