There is a possibility of high volatility in the market in the near term. But in the meantime, due to positive news in today’s business, good action can be seen in some stocks.
Stocks in Focus Today: Selling pressure is being seen in the domestic stock market due to deteriorating global sentiments. The fear of prolonging the war between Russia and Ukraine has increased the geopolitical risk. Crude prices are at many-year highs. Factors like inflation and rate hike are also in the market. In such a situation, there is a possibility of high volatility in the market in the near term. But in the meantime, due to positive news in today’s business, good action can be seen in some stocks. They can show better bounce in intraday. The list of these stocks includes names like Tata Motors, SJVN, Vedanta, Indian Bank, LT Foods, Vodafone Idea, Gabriel India, Mahindra & Mahindra Financial Services. If you are looking for better stocks in intraday, then you can keep an eye on them.
SJVN
State-owned hydroelectric power generation company SJVN has secured financial closure for its 210 MW Luhri-1 hydroelectric project in Himachal Pradesh and 75 MW Parasaran solar power project in Uttar Pradesh. SBI will give Rs 1537 crore to the company. While Rs 319.04 crore will be given by Punjab National Bank, Dubai for Luhri HEP and Parasaran projects.
Tata Motors
The boards of Tata Motors Finance and Tata Motors Finance Solutions (TMFSL), the in-house financiers of Tata Motors vehicles, have approved the plan to sell part of their loan assets and receivables up to Rs 12,000 crore and up to Rs 2,500 crore. With this move, both the vehicle finance companies of Tata Motors will become capital free.
Wockhardt
The rights issue of the company’s Rs 748 crore will open for subscription on March 15. The closing date for the issue will be March 22. The company will issue three rights equity shares for every 10 equity shares held by the shareholders as on the record date of March 9.
Vedant
France-based financial services company Societe Generale has sold 2,24,50,200 equity shares in Vedanta through open market transactions. These shares were sold at an average price of Rs 391.74.
Gabriel India
HDFC Asset Management Company has acquired an additional 2.13 per cent stake through its plans in Gabriel India through an open market transaction on March 2. With this, its stake in the company now stands at 9.17 per cent, from 7.04 per cent earlier.
Vodafone Idea
Telecom operator Vodafone Idea said that the board has approved raising Rs 4,500 crore on a preferential basis through its promoters. It has decided to issue over 3383 crore equity shares to Euro Pacific Securities, Prime Metals and Oriana Investments Pvt Ltd at an issue price of Rs 13.30 per share. The company has also received board approval for raising additional funds of Rs 10,000 crore through private placement or qualified institutional placement.
LT Foods
Food company LT Foods said that its subsidiary LT Foods American Inc. has acquired 51 per cent stake in Golden Star Trading Inc. along with its brand Golden Star. It also has a call option to buy the remaining 49 per cent stake at the end of 3 years.
Indian Bank
Due to the NPAs of Future Retail, Indian Bank is likely to have an impact of about Rs 800 crore during the current quarter. Earlier, a consortium of 27 banks had indicated that they would have to make combined provision of around Rs 9,000 crore due to non-payment by the retailer.
Mahindra & Mahindra Financial Services
Mahindra & Mahindra Financial Services has disbursed loans of about Rs 2,733 crore in February 2022, an increase of 44 per cent year-on-year. The total disbursement on year-on-year basis stood at Rs 23,632 crore, which is 42 per cent higher than the corresponding period last year. Collection efficiency remained stable at 98 per cent.
,