Stocks to watch: BPCL, Shipping Corp, Hero Moto, Tata Motors, IDBI Bank

By Administrator_India

Capital Sands

The Nifty futures on Singapore Exchange traded 54 points higher at 14,847 around 8.30 am, indicating a firm start for benchmark indices on Tuesday.

Here are the top stocks that are likely to be in focus today:

BPCL, OIL, Engineers India: Bharat Petroleum Corporation Ltd (BPCL) said it will exit Numaligarh refinery in Assam by selling its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for Rs 9,876 crore.

Quess Corp: The company announced the separation of roles of its Chairman and Managing Director. Suraj Moraje, currently Group CEO and Executive Director, will be elevated to Group CEO and Managing Director from April 1, while Ajit Isaac, currently Executive Chairman and MD, will continue in the role of Executive Chairman.

Hero MotoCorp: The two-wheeler maker, on Monday, reported a 1.45 per cent increase in total sales at 5,05,467 units in February. The company had sold 4,98,242 units in the same month of the previous year.

Shipping Corp: The government has received multiple bids for privatisation of Shipping Corporation of India, Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said on Monday.

Tata Motors: The state government of Delhi has temporarily suspended incentives offered on Tata Motors’ electric sport utility vehicle, Nexon, on alleged charges by a customer that the vehicle does not have the capacity to cover as many kilometers claimed by the company in a single charge.

Eicher Motor: Royal Enfield on Monday reported a 10 per cent increase in total sales at 69,659 units in February.

Power Grid: The company board has approved an interim dividend of Rs 4 per share for 2020-21. The interim dividend shall be paid to the members on March 30, 2021.

MCX, CDSL: The National Stock Exchange (NSE), Multi Commodity Exchange of India Ltd, India INX International Exchange Ltd, National Securities Depository Ltd and Central Depository Services (India)on Monday said it have signed a pact to set up an international bullion exchange, clearing corporation and depository at the GIFT City in Gujarat.

IDBI Bank: LIC-controlled IDBI Bank will set off its accumulated losses worth Rs 45,586 crore against the balance in the securities premium account, according to the bank’s draft scheme.

Siemens: The company said it has completed the acquisition of 99.22 per cent equity shares in C&S Electric Ltd from the company’s promoters for Rs 2,100 crore.

Central Bank of India: Matam Venkata Rao has taken charge as its new Managing Director and Chief Executive Officer of the bank.

NMDC: Production in February increased to 3.86 million tonnes from 3.24 million tonnes YoY and sales rose to 3.25 million tonnes from 2.91 million tonnes YoY.

UPL: The company has announced a long-term strategic collaboration with FMC Corporation. The agreement will provide UPL access in key markets prior to patent expiration and to commercialise Rynaxypyr active, FMC’s leading insecticide.

IRCTC: The Madras High Court has directed the company to terminate all existing contracts of mobile catering involving scope of work of providing cooked food to passengers prepared from base kitchens as per the existing terms and conditions.

Coal India: In February, the production was down 6.6 per cent YoY at 61.9 mt against 66.2 mt in same month last year. February offtake was down 6.2 per cent YoY at 51.2 mt against 54.6 mt in the corresponding month year-ago.