Stocks To Watch Today: Wipro, KEC Int, Adani, Ashok Leyland, Bharat Forge In Focus

Stocks To Watch Today: Wipro, KEC Int, Adani, Ashok Leyland, Bharat Forge In Focus


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Stocks To Watch Today: The Indian equities market is expected to be volatile today due to geopolitical tensions and rising crude oil prices.

Stocks To Watch Today, March 12.

Stocks To Watch Today, March 12.

The Indian equities market might bear high volatile session today, March 12, driven by geopolitical tensions in West Asia and surging crude oil prices.

Gift Nifty is also suggesting a gap-down start. As of 7:16 AM today, Gift Nifty was down 106 points to 23,809, following the large trend in the Asian markets. Japan’s Nikkei 225 was down 412 points or 0.75 per cent to trade at 54,609. Meanwhile, South Korea’s Kospi was trading at 5,585 with a fall of 0.44 per cent.

Brent crude oil futures surged sharply to reach closer to $100 per barrel-mark over the continuation of the Iran war and targets of oil tankers passing through the Strait of Hormuz.

The broader market is under pressure due to no signs of de-escalation of the Middle East crisis. In the previous session, Nifty ended 394 points or 1.63 per cent lower at 23,866, while Sensex closed at 76,863, marking a fall of 1,342 points or 1.72 per cent.

Several stocks are set to remain in focus today due to significant contract wins, strategic deals, and scheduled corporate actions.

Stocks To Watch Today:

KEC International

The RPG Group company has secured new transmission and distribution (T&D) orders worth Rs 1,476 crore across India, the Middle East, Africa and the Americas. With these additions, the company’s year-to-date order intake has reached Rs 22,800 crore.

Ashok Leyland

The company has announced the ground-breaking of a greenfield battery pack manufacturing facility in Chennai. The project will involve an investment of around Rs 400–500 crore.

Adani Enterprises

The company’s subsidiary, Adani Defence Systems & Technologies, has completed the acquisition of an additional 14.2 percent stake in Air Works India (Engineering), taking its total shareholding in the aircraft maintenance, repair and overhaul (MRO) firm to 99.98 percent.

Samvardhana Motherson International

The company has entered into a Share Purchase Agreement to acquire a 100 percent stake in Yutaka Autoparts India. The acquisition forms part of a previously announced transaction involving the purchase of an 81 percent stake in Yutaka Giken Co Ltd and an 11 percent stake in Shinnichi Kogyo through its subsidiary Motherson Global Investments BV.

As part of the process, the company has also completed a tender offer to acquire additional shares of Japanese auto components maker Yutaka Giken Co Ltd. According to the results announced on March 11, 14,08,867 shares have been tendered at a price of JPY 3,024 per share. The settlement date is March 17.

Vascon Engineers

The company has received a work order worth Rs 115.9 crore from Ahmedabad Municipal Corporation for the development of Lotus Park. The project is expected to be completed within 24 months from the date of issue of the work order.

Aether Industries

A fire incident occurred at an external warehouse in Surat. The company said all its facilities are operating normally without any disruption, and no injuries or casualties were reported.

Hatsun Agro Product

The National Company Law Tribunal (NCLT), Cuttack, has approved the amalgamation of Milk Mantra Dairy with Hatsun Agro Product. The merger will take effect from the appointed date of April 1, 2025.

Lumax Auto Technologies

The National Company Law Tribunal (NCLT), New Delhi, has sanctioned the amalgamation of Lumax Ancillary with Lumax Auto Technologies. The appointed date for the scheme is April 1, 2024.

Bharat Forge

The company has infused Rs 160 crore (about 15 million euros) into its subsidiary Bharat Forge Global Holding GmbH through a capital reserve investment.

Redington

The company has received relief from the Commissioner of Income Tax (Appeals), who has quashed a tax demand of Rs 230.21 crore out of the total Rs 233.66 crore raised by the assessing officer for Assessment Year 2020–21.

Canara HSBC Life Insurance Company

The insurer has entered into a corporate agency agreement with Bihar Gramin Bank for the distribution of its insurance products.

Relaxo Footwears

Prince Jain has resigned as Chief Financial Officer and Key Managerial Personnel of the company, effective March 11.

Everest Industries

The company has appointed Aasheesh Saxena as Vice President (Business Head – Roofing). He will be part of the senior management team.

Borosil

Oil marketing companies have restricted LPG supply due to force majeure conditions linked to the ongoing conflict in the Middle East, affecting global fuel supply.

As a result, production at the company’s borosilicate glass furnace for pressware products has been temporarily suspended, while opal glass furnaces in Jaipur are operating at reduced capacity. The company is assessing the impact of the disruption.

Mahanagar Gas

Some of the company’s gas suppliers have curtailed supply amid geopolitical developments affecting global energy markets. Following this, the Ministry of Petroleum and Natural Gas has prioritised gas supply for domestic PNG and CNG segments and advised reducing supply to industrial and commercial customers.

Separately, Prudential plc and its subsidiaries Eastspring Investments (Singapore) and Eastspring Investments Incorporated acquired an additional 0.06 percent stake in the company through open market transactions on March 9, increasing their total holding to 5.01 percent from 4.95 percent earlier.

Weatherford Contract

The company has secured a five-year contract worth Rs 920 crore from Weatherford Products GmbH under a Master Purchase Agreement.

Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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