Stocks to watch in today's trade
Upstox
3 min read • Updated: March 11, 2024, 9:58 AM
Summary
Indian markets recorded moderately positive gains last week amidst volatility, with the NIFTY50 and SENSEX reaching all-time high levels on Thursday and maintaining those gains. Key developments over the weekend that could remain in focus are as follows:
Indian Benchmark indices have posted moderately positive gains of (+0.5%) for the week, holding the lifetime high levels of 22,490 on NIFTY50 and 74,100 on Sensex. The gains were largely led by positive global cues and strong buying by FII’s worth ₹7300 crore on Thursday. For the coming week, Inflation numbers will remain in focus and will be deciding factor for interest rate trajectory in India. Below are some of the key developments happened over the weekend.
Asset Management Companies
India’s Mutual Fund Industry AUM crossed the milestone of ₹54 lakh crore in February, with SIPs for the month also surpassing the ₹19,000 mark for the first time. As a result, Asset Management Companies such as HDFC AMC, NAM India, and brokerage stocks like Motilal Oswal Financial Services, Angel One, and Share India Securities are expected to be in focus on Monday.
Coal India
Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL), a state government undertaking of Rajasthan, signed a Memorandum of Understanding (MoU) with Coal India to explore various opportunities to meet the growing energy demand of the state.
RVNL
Rail Vikas Nigam Ltd (RVNL) received multiple orders over the weekend, as reported by the company in exchange filings. The orders totaled nearly ₹2000 crores and include projects such as loss reduction works for Himachal Pradesh State Electricity Board Ltd worth ₹1297 crores, and remaining orders worth ₹800 crores from Madhya Pradesh Metro Rail Corporation & Madhya Pradesh PoorvKshetra Vidyut Vitaran Company.
HG Infra Engineering Ltd
The company received a Letter of Acceptance from the National Highway Authority of India for an EPC-based project worth ₹610 crores. The project involves the construction of a 4-lane elevated corridor of Kalimandir-Dimna ChowkBaliguma (Jamshedpur) Section of NH33 for a length of 10 km.
NLC India
NLC India Limited signed an MOU with the Government of Rajasthan for the formation of a Joint Venture to set up a 125 MW Lignite-Based Power Plant and a 1000 MW Solar Power Plant.
JSW Energy
JSW Renewable Technologies Ltd, a subsidiary of JSW Neo Energy Ltd, which is a step-down subsidiary of JSW Energy Ltd, entered into a technology licensing agreement with SANY Renewable for the manufacturing of 3 MW Wind Turbine Generators.
Zydus Lifesciences
The company received the Establishment Inspection Report (EIR) from the USFDA for the inspection conducted at the API Ahmedabad facility. Earlier, the company had received a post-application action letter from the USFDA indicating that the facility is commercially ready to manufacture APIs.
Torrent Power
The company received letter of Award from Maharashtra State Electricity Board for setting up of 360 MW Grid connected Solar PV projects in Nasik. The total order value for the projects stands at ₹1,540 crore.