Stocks to Watch on March 26: NCC, IREDA, Welspun Ent, Federal Bank and More
Indian stock markets are likley to be impacted, supported by positive global trends. The GIFT Nifty, which indicates how the Nifty 50 may perform, was up 9.5 points (0.4%) at 23,765.5 as of 7:40 AM.
Global Market Trends
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Asian Markets: Stocks in Asia-Pacific were trading higher, following a late rally in US markets. Japan’s Nikkei rose 0.45%, while South Korea’s Kospi gained 0.38%.
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US Markets: The S&P 500 and Nasdaq 100 rose by 0.16% and 0.46%, respectively, while the Dow Jones Industrial Average inched up by 0.01%. US stocks recovered as concerns about new tariffs eased.
Indian Market Update
On Tuesday, the Nifty 50 gained 10.3 points (0.40%) to close at 23,668.6, while the Sensex added 32.8 points (0.04%) to reach 78,017.19. This marks the strongest weekly rally since February 2021.
Key Stocks to Watch
Real Estate & Infrastructure
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DLF: Acquired a 50% stake in its subsidiary, DLF Urban Private Limited, for ₹497 crore from Singapore’s Reco Greens, making it the sole owner of DLF Urban.
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NCC: Secured two contracts worth ₹10,804.6 crore from BSNL for BharatNet network projects in Uttarakhand, Madhya Pradesh, and other regions.
Steel & Manufacturing
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Tata Steel: Selected three contractors in South Wales for its £1.25 billion green steel project at Port Talbot, creating over 300 local jobs.
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Samvardhana Motherson International: Goldman Sachs (Singapore) Pte acquired 6.548 million shares worth ₹87 crore through an open market deal.
Energy & Renewables
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IREDA: Raised ₹910 crore via bonds to strengthen its capital reserves.
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ONGC: Investing ₹3,300 crore in ONGC Green Limited and acquiring a 100% stake in Ayana Renewable Power through ONGC NTPC Green Private Limited.
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Waaree Renewable Technologies: Won a ₹232.3 crore contract from Waaree Energies to develop a ground-mounted solar power project.
Banking & Financials
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Federal Bank: Signed an agreement to buy a 4% stake in Ageas Federal Life Insurance for ₹97.44 crore.
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Indian Overseas Bank: Received an income tax demand of ₹558.96 crore for FY 2023-24 but stated it won’t impact its operations.
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IRFC: Signed a ₹5,000 crore loan agreement with NTPC Renewable Energy for financing new projects.
Automobiles & Components
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TVS Motor: Its Singapore subsidiary is increasing its stake in Swiss e-mobility firm GO AG by 8.26% for CHF 500,000.
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Maruti Suzuki: Received a draft tax assessment order for FY22, proposing additions/disallowances of ₹2,966 crore.
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Minda Corp: Scheduled a board meeting on March 28 to discuss raising funds through securities.
Other Notable Stocks
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Welspun Enterprises: Its subsidiary, Welspun Michigan Engineers Limited, won a ₹328.12 crore contract from Mumbai’s BMC for a stormwater pumping project.
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Star Health: Clarified that it has not received any regulatory notices from IRDAI regarding its claims settlement practices.
Other Stocks in Focus
Bharat Heavy Electricals, Jyothy Labs, Indegene, Aditya Birla Capital, Jindal Stainless, and Granules India could also see movement in today’s trading session.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.