Here is a list of the 10 most important stocks to watch today:
Adani Ports: After changing its outlook for Adani Total Gas, ICRA has changed its outlook for another company backed by the Adani Group. This time, it is Adani Ports. ICRA changed its outlook on Adani’s port business from “Stable” to “Negative,” but it kept its ratings on the company’s long-term loans, debentures, and commercial papers. For the group’s joint venture Adani Total Gas, the same thing was done. The reason for both of the “Negative” outlooks is also the same: the group’s ability to pay its bills is getting worse.
Maruti Suzuki: A company official said that a lack of semiconductors at Maruti Suzuki India could cause some models’ order backlogs to grow even more. In the last quarter, the lack of semiconductors led to a loss of 46,000 units of production. The company thinks that the problem will still be there in a few months. The company might still need to take orders for up to 3.69 lakh units. PTI says that close to 94,000 orders have been placed for the Ertiga, which is the most of any model from the company. Grand Vitara and Brezza are two other models from the company that have made customers wait too long.
HDFC: The NBFC giant HDFC said on Friday that the NCLT has approved the plan to merge two wholly-owned subsidiaries, HDFC Property Ventures (HPVL) and HDFC Venture Capital (HVCL), with HDFC Capital Advisors (HCAL), before the $40 billion merger deal with HDFC Bank. On BSE, the price of an HDFC share went up by 2% to 2,645.85. In August of last year, as part of a deal to merge with HDFC Bank, HDFC e-filed an application with NCLT for the merger of HPVL, HVCL, and HACL. After this, on March 3, 2023, NCLT gave its OK for the two real estate private equity investment companies to merge.
Power Grid Corporation: Two projects to send electricity between states were won by the state-owned Power Grid Corporation through competitive bidding based on tariffs. A BSE filing said that Power Grid Corporation of India Ltd. was chosen as the winner of a tariff-based competitive bidding process to build, own, operate, and transfer (BOOT) two inter-state transmission systems. It won the Western Region Expansion Scheme-XXVII project (WRES-XXVII). The project includes building a 400-kV D/C transmission line through Chhattisgarh and extending the bays at two substations that are already there.
Bajaj Electricals: On Saturday, Bajaj Electricals said that its EPC division had won a contract from South Bihar Power Distribution Company Ltd worth 564.87 crore (SBPDCL). South Bihar Power Distribution Company Ltd. (SBPDCL), a domestic company, will provide goods and services under the Revamped Distribution Sector Scheme (RDSS), the company said in a filing with the government. It said that part of the work is to provide plant and installation services for the development of the distribution infrastructure of Bihar’s Sasaram and Munger electric supply circles.
Kansai Nerolac Paints: The Board of Kansai Nerolac Paints (KNPL) has agreed to buy shares in Nerofix from Polygel for 37 crore in cash. This is 40% of the total number of shares in Nerofix. KNPL bought a 60% stake in Nerofix in January 2020. With the decision to buy the last 40% of shares, the company will own 100% of the business. The exchange filing said, “After the said purchase of shares, Nerofix Private Limited will become a wholly owned (100%) subsidiary of Kansai Nerolac Paints Limited.” The deal is expected to be done by March 31 of this year.
Mahanagar Gas: Mahanagar Gas (MGL) signed an agreement on Friday to buy rival private sector city gas distributor Unison Enviro from its promoters and existing shareholders, Ashoka Buildcon and an investment fund managed by Morgan Stanley India Infrastructure, for an undisclosed amount. Ashoka Buildcon’s subsidiary Unison Enviro distributes city gas to residential, commercial, industrial, and transportation sectors in the districts of Ratnagiri, Latur, and Osmanabad in Maharashtra and Chitradurga and Davanagere in Karnataka.
