Stocks To Watch: BEML, BPCL, GMM Pfaudler, SBI, Tata Communications, Vedanta
Brokers speak on the telephone during trading hours inside a dealing room in Mumbai, India. (Photographer Abhijit Bhatlekar/Bloomberg)

Stocks To Watch: BEML, BPCL, GMM Pfaudler, SBI, Tata Communications, Vedanta

Indian equities witnessed pressure at higher levels, ending little changed in what turned out to be a volatile and rangebound trading session. The S&P BSE Sensex ended 30 points lower at 50,363 while the NSE Nifty 50 index ended 20 points lower at 14,910. Both benchmark indices have now declined for three straight sessions.

Here are the stocks to watch in trade today:

  • Vedanta: Vedanta Resources has raised the open offer price for buying shares in the company to Rs 235 per share, nearly 4% higher than the Tuesday's closing of Rs 226.55. In January, Vedanta Resources had offered to buy up to 10% in the company at Rs 160 apiece. The offer size has also been increased to 651 million shares representing 17.5% stake in Vedanta Ltd. The open offer will start on March 23 and will close on April 7.
  • State Bank of India: RBI has levied Rs 2 crore penalty on the bank for contravention of regulations on employee remuneration.
  • Tata Communications: OFS for non-retail investors gets 220% the demand as compared to the shares on offer. There was demand for 5.63 crore shares as compared to the 2.56 crore on offer for the Non-retail investors. The OFS opens for retail investors today. The government will exercise the greenshoe option to sell another 6% of the total equity.
  • BEML: Has received $23 million export orders from Cameroon and Bangladesh for supply of construction equipment. The Government of Cameroon has ordered 71 units of construction equipment consisting of Bulldozers, Excavators, Wheel Loaders, Motor graders and Compactors for their Cassava Farm Project. The order from Government of Bangladesh is for supply of construction equipment consisting of Wheel Dozer for their construction, Repair and Maintenance of Road and Infrastructure projects.
  • Bharat Forge: Kalyani Rafael Advanced Systems, a joint venture between Kalyani Group and Rafael Advanced Defense Systems of Israel, has rolled out its first batch of Medium Range Surface to Air Missile for the Indian Army and the Air Force. Further the company has acquire Kalyani Powertrain, of Kalyani Group, which will act as the Special Purpose Vehicle to carry on the Electric Vehicle business.
  • India Grid Trust: Board has approved fund raising of up to Rs 5,300 crore in one or more tranches through various sources including term loans, public and private issuance of NCDs subject to receipt of necessary approvals from statutory, regulatory and other authorities. Further the board will meet on March 23 to discuss the matters related to rights issue.
  • GMM Pfaudler: To pay Rs 584.6 million to acquire assets of HDO Technologies Ltd. The transaction is for an 11.9 acre manufacturing facility located in Vatva, Ahmedabad. The acqusition will enhance capacity and augment capabilities in heavy engineering.
  • HG Infra Engineering: Has been declared L-1 bidder by National Highways Authority of India for construction greenfield highway project in Telangana.
  • BPCL: Has declared second interim dividend of Rs 5 per share of Rs 10 each for FY21. The record date for the same is March 27, 2021.
  • Dalmia Bharat Sugar and Industries: To launch Sulphur free White Crystal Sugar and Natural Brown Sugar under the consumer brand Dalmia Utsav on March 16.
  • Ruchi Soya Industries: Has appointed Sanjay Aggarwal as Chief Financial Officer of the Company with effect from March 15.
  • IOL Chemicals and Pharmaceuticals: Has appointed Sanjay Chaturvedi as Chief Executive Officer of the company with effect from March 16, 2021.
  • Magma Fincorp: Magma HDI General Insurance Company, insurance JV of the company, has approved capital raise of up to Rs 250 crore by way of preferential issue to third party investors subject to requisite statutory and regulatory approvals.

Pledge Share Details

  • LT Foods: Promoter Raghuvesh Holdings revoked pledge of 14.30 lakh shares on March 12. As reported on March 16.

Bulk Deals

  • Dhani Services: Promoter Gehlaut Sameer bought 27 lakh shares (0.44%) at Rs 266.02 per share.
  • Infibeam Avenues: L7 Hitech bought 35.72 lakh shares (0.54%) at Rs 107.09 per share.
  • Karda Constructions: Nexpact bought 3.25 lakh shares (0.53%) at Rs 112 per share.
  • Vardhman Special Steels: Promoter Sachit Jain bought 2.20 lakh shares (0.54%) at Rs 155 per share.
  • Asian Granito India: Donroy Ceramics LLP sold 4.57 lakh shares (1.48%) at Rs 168.52 per share.
  • Bliss GVS Pharma: Pallas Fincap sold 5.73 lakh shares (0.56%) at Rs 106.29 per share.

Who’s Meeting Whom

  • UltraTech Cement: To meet Lazard Asset Management LLC on March 17.
  • Adani Ports and SEZ: To meet Jefferies on March 17.
  • Brigade Enterprises: To meet Ashmore, Birla Mutual Fund, Franklin Templeton and ICICI Prudential Mutual Fund on March 17.

Trading Tweaks

  • Price Band Revised From 10% To 5%: Edelweiss Financial Services
  • Price Band Revised From 20% To 10%: Bliss GVS Pharma, Saregama India
  • Ex-Date Interim Dividend: Kirloskar Oil Engines
  • Record Date Interim Dividend: Mold-Tek Packaging, Mold-Tek Technologies
  • Ex-Date Stock Split: Wardwizard Innovations & Mobility
  • Ex-Date EGM: Parvati Sweetners and Power, Comfort Commotrade
  • Record Date Bonus Issue: Smruthi Organics
  • Move Into ASM Framework: Zen Technologies, RPSG Ventures, 3i Infotech
  • Move Out Of Short-Term ASM Framework: Yaarii Digital Integrated Services, Equitas Small Finance Bank, Bajaj Hindusthan Sugar, Welspun Enterprises, Astra Microwave Products, Jindal Poly Films

Insider Trades

  • Godrej Industries: Promoter Arel Enterprise LLP bought 7.71 lakh shares between March 9-10.
  • NCC: Promoters (Narasimha Developers and AVSR Holdings) bought 7.31 lakh shares on March 12. Promoters (AAV Ranga Raju and AGK Raju) sold 7.31 lakh shares on March 12.
  • Nilkamal: Promoters (Manish Parekh And Nayan Parekh) bought 3,088 shares between March 12-15.
  • Aarti Industries: Promoter Bhavesh Mehta sold 17,000 shares between March 12-15.
  • Ashapura Minechem: Promoter Ashapura Industrial Finance bought 55,500 shares on March 15.
  • Action Construction Equipment: Promoter Mona Agarwal sold 35 lakh shares on March 12.
  • Vardhman Special Steels: Promoter Sachit Jain bought 6,800 shares on March 15.
  • Orient Cement: Promoter Nirmala Birla sold 1.40 lakh shares on March 12. Promoters (Ashok Investment Corporation and Shekhavati Investments and Traders) bought 1.40 lakh shares on March 12.
  • Orient Electric: Promoters (Gwalior Finance Corporation and Shekhavati Investments and Traders) bought 1.30 lakh shares on March 12. Promoter Nirmala Birla sold 1.30 lakh shares on March 12. As reported on March 16.
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