Stocks to Watch: LIC, TCS, Zomato, SBI Cards, UltraTech, Bharti Airtel, and Others – News18

Stocks To Watch On March 18: Tracking Asian peers’ sour sentiments, Indian markets declined on Tuesday, continuing its recent pessimism. Analysts say the correction was also triggered by concerns over premium valuations and the delay of rate cuts by the US Fed due to hotter-than-expected inflation.

LIC: Sebi confirmed a securities market ban on five entities, including an employee of Life Insurance Corporation of India (LIC), in a case pertaining to front-running trades of the state-owned insurer.

Zomato: Zomato Founder and CEO Deepinder Goyal announced the launch of a “Pure Veg Mode” service to cater to customers who have pure vegetarian dietary preference.

Bharti Airtel: Capital markets regulator Sebi approved the initial public offer (IPO) of Bharti Airtel’s unit Bharti Hexacom.

SBI Cards: The Board of SBI Cards has declared an interim dividend of Rs 2.5 per share for the financial year ending 2023-24. The company has also fixed a record date of March 28 for the proposed dividend.

Vodafone Idea: ATC Telecom has asked Vodafone to convert the former’s optionally convertible debentures worth Rs 1,440 crore into equity shares of the telecom company.

UltraTech Cement: The CCI has approved the company’s acquisition of Kesoram Industries’ cement business.

TCS: US-based Central Bank, which is a leading Midwest regional bank, has selected TCS BaNCS to modernise its core technology.

JK Cement: JK Cement said it has submitted the winning bid for “Mahan coal block” and “West of Shahdol (South) coal block” in the recent commercial coal mine e-auction. However, the allocation order is yet to be issued and Coal Mine Development and Production Agreement is yet to be signed.

Aurobindo Pharma: It has received US FDA approval for Mometasone Furoate Monohydrate Nasal Spray in strength of 50 mcg per spray.

GPT Health: Q3 revenue of the company rose 4.2 per cent YoY to Rs 96.6 crore. Net profit grew 37 per cent to Rs 11.5 crore.

Star Health: ICICI Prudential Mutual Fund bought 35.74 lakh shares or 0.61 per cent stake in the company at Rs 540 apiece via bulk deals, NSE data showed.

NBCC: The company’s subsidiary, HSCC (India), has secured a Rs 14 crore work order.

Protean eGov Technologies: Sudeep Bhatia has resigned as CFO of the company effective June 14, 2024.

Venky’s: The company has started commercial production at Kesurdi unit to manufacture veterinary medicines powders (600 tonnes/annum) and veterinary medicines liquids (300 kilolitres / annum) to cater to growing demand from poultry industry.

Shakti Pumps: The board has approved a QIP of up to Rs 200 crore at a floor price of Rs 1,272.09 per share.

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