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HomeMarket InsiderIndiaStocks to watch: Lupin, GAIL, PNB Housing, Shriram Finance, Axita Cotton

Stocks to watch: Lupin, GAIL, PNB Housing, Shriram Finance, Axita Cotton

After two days of losses, domestic markets are expected to stabilize in Tuesday’s trading session. The SGX Nifty was trading at 17,208 points at 7:45 a.m., up 28 points.

Internationally, the US markets were mixed overnight as a result of the Silicon Valley Bank debacle. As the Dow Jones and S&P 500 lost up to 0.2%, the NASDAQ Composite surged 0.4%.

Asia-Pacific markets, on the other hand, bled this morning, with the Nikkei 225, Topix, Kospi, Kosdaq, and S&P 200 all falling up to 3.5 percent.

Meanwhile, here are a few stocks anticipated to move on Tuesday:

Embassy Office Parks REIT: The business said that it has contributed over Rs 300 crore for green efforts throughout its commercial properties. They just completed the first phase of a 20 megawatt (MW) solar rooftop project, which intends to produce 30 million units of solar electricity.

PNB Home Finance: The business acquired Sebi authorization to fund up to Rs 2,500 crore via a rights issue of shares. The net proceeds from the offering will be used to increase the company’s capital base.

Shriram Finance: The business intends to raise up to $2.4 billion to fuel its expansion in the upcoming fiscal year, which begins in April. The company’s management said that it intends to increase its assets under management (AUM) by 15% in fiscal 2024, to roughly Rs 1.9 trillion–2 trillion.

Lupin: The US Food and Drug Administration (USFDA) concluded an examination of Lupin’s Bioresearch Center in Pune, India, and closed without any observations. Lupin Bioresearch Center undertakes BA/BE, PK/PD, in-vitro BE, and biosimilar investigations.

GAIL (India): The state-owned company has announced an interim dividend of 40% on paid-up equity share capital, equal to Rs 4 per share, with a record date of March 21, 2023. The government would get Rs 1,355 crore in dividends based on existing holdings, while stockholders would receive Rs 1,275 crore.

CreditAccess Grameen: The NBFC giant has reached the Rs 20,000 crore AUM milestone. The management team is confident in achieving 24-25% AUM growth in FY23, 4.4% ROA, and 16-18% ROE. They also want to establish 34 more locations by March 31, 2023.

Axita Cotton: The firm received a $2.72 million contract for Indian raw cotton from Tara Spinning Mills in Bangladesh and Khadiza Sadek Spinning Mills in Bangladesh.

Surya Roshni: The business received a Rs 96.3 crore contract from HPCL for the delivery of 3LPE-coated steel pipes for city gas distribution projects in Rajasthan, Bihar, Jharkhand, and West Bengal.

Dhanlaxmi Fabrics: The management has decided to carry out major structural renovations for its 30-year-old factory building, as well as technological advancement and upgradation for its plant and equipment installed and located at its Dombivali unit, including the installation of BOD and COD online meters.

Stocks under F&O ban: Just GNFC was prohibited during the F&O suspension period on Tuesday, March 14.

News Desk
The Shining Media is an independent news website and channel, covering updates from the world of Politics, Entertainment, Sports, International, National, and a lot more.


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