Stocks to watch: L&T, Whirlpool, CIE Auto, ESAF SFB, Ujjivan SFB, NBCC | Markets News – Business Standard

Economy
By Liam

Illustration: Ajay Mohanty

Stocks to watch on Tuesday, February 20, 2024: After ending at an all-time high yesterday, the Nifty 50 is likely to start today’s trading session quietly.

At 7:30 am, Gift Nifty futures were trading at around 22,168, against the spot Nifty close of 22,122.

In Asia, Nikkei, Hang Seng and Taiwan each rose about 0.5 percent this morning. Straits Times was flat, while Kospi fell about 0.5 percent.

The US market was closed for trading on Monday for Presidents’ Day.

The yield on 10-year US government bonds recorded a level of 4.3 percent. Brent crude futures were trading around $83.50 per barrel.

In the meantime, these are the stocks likely to be in focus on Tuesday.

Bubble bath: Promoter Whirlpool Mauritius (WML), which has a 75 percent stake in the Indian arm, is expected to sell 30.4 million shares, or a 24 percent equity stake, in Whirlpool of India via block deals at Rs 1,230 per share today, reports suggest.

Larsen & Toubro (L&T): The engineering conglomerate is preparing the way to begin commercial sales of electrolysers in September, which would be 50 percent cheaper than its European counterparts.

Ujjivan Small Financial Bank (SFB): In an interaction with Business standard, Ittira Davis, General Manager and CEO of the Bengaluru-headquartered lender said it plans to increase its secured loan portfolio to 40 percent within three years. Currently, the secured portfolio is 28.3 percent.

Balrampur Chini: To invest up to Rs 2,000 crore over a period of 30 months, to venture into polylactic acid manufacturing.

CIE Automotive: Reports a turnaround in the December quarter, with a consolidated net profit of Rs 169 crore, against a net loss of Rs 658 crore in the corresponding quarter a year ago.

Mastek: The Board approved allotment of up to 1.6 equity shares at Rs 2,382 per share for 39,189 compulsorily convertible preference shares.

Eastern railway infrastructure: The Board of Directors will meet on February 22 to consider and approve the allotment of 5.06 million equity shares and 7.50 million warrants convertible into equity shares at Rs 169 per share.

NBCC: Secured orders worth Rs 3,690 crore.

Paisalo Digital: Board meeting scheduled for February 22 to discuss the fundraising proposal.

ESAF small finance bank: The Board of Directors will meet on February 23 to consider a proposal to raise funds through the issuance of non-convertible bonds on a private placement basis.

Morepen Labs: The board will meet on February 22 to discuss the fundraising proposal.

Shares in F&O ban today: Aditya Birla Fashion Retail, Ashok Leyland, Bandhan Bank, Biocon, Canara Bank, Hindustan Copper, India Cement, Indus Towers, National Aluminum, SAIL and Zee Entertainment are the 11 stocks in the futures and options ban period on Tuesday.

First print: February 20, 2024 | 7:49 am IST

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