Stocks to Watch: Global Surfaces, RIL, Wipro, HAL, Hero Moto, IOC

Here is the list of the top 10 stocks that will be in focus today: Global Surfaces : Global Surfaces shares are going to make its debut in the secondary market today as the Global Surfaces IPO listing date has been fixed on 23rd March 2023. As per the information available on BSE’s official website — bseindia. com, effective from Thursday, March 23, 2023, the equity shares of Global Surfaces Limited shall be listed and admitted to dealings on the Indian bourses in the list of ‘T’ group of securities.

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Premium India has much to gain from helping Sri Lanka Reliance Industries : Reliance Consumer Products Limited (RCPL), the FMCG arm and wholly-owned subsidiary of Reliance Retail Ventures Limited (RRVL), on Wednesday announced the expansion of its FMCG portfolio with the launch of its range of home and personal care products. The products include Glimmer beauty soaps, Get Real natural soaps, Puric hygiene soaps, Dozo dishwash bars and liquids, HomeGuard toilet and floor cleaners and Enzo laundry detergent powder, liquid and bars. It will launch a highly effective range of toilet and floor cleaners under the HomeGuard brand along with laundry detergent (bar, liquid and powder) under the brand Enzo Smartwash.

Wipro/LTTS : Foreign brokerage firm Bernstein has downgraded information technology (IT) major Wipro and engineering services giant L&T Technology Services Ltd (LTTS), pointing to the recent financial sector weakness that has resulted in stock volatility and risk to its FY24 growth outlook. The brokerage has downgraded Wipro to ‘underperform’, but remained positive on select large caps with IT firm Infosys as its top pick. Bernstein has slashed the growth forecast for the financial year 2024 by 3-4% and earnings estimates by 3-9%.

Hindustan Aeronautics : India will be selling up to a 3. 5% stake in its aerospace and defence company, Hindustan Aeronautics (HAL) through an offer for sale (OFS). The offer will open on March 23 and will continue till March 24th.

The 3. 5% stake sale comprised 1. 75% as the base offer and 1.

75% as an additional option. The government seeks to raise more than ₹ 2,867 crore through this transaction. As per the regulatory filing, the Indian government proposes to sell up to 58,51,782 equity shares or 1.

75% as a base offer through OFS in HAL. The face value of equity shares is ₹ 10. Hero MotoCorp : Two-wheeler maker Hero MotoCorp on Wednesday said it will increase the prices of some of its motorcycles and scooters by around 2% from 1 April, according to a stock exchange filing.

The company said that the upward revision in the ex-showroom prices of some two-wheelers is due to an increase in costs for transitioning to onboard diagnostics (OBD2). Hero MotoCorp will continue to provide financing solutions in order to cushion the impact on the customers, it said. DB Corp : Dainik Bhaskar Group’s DB Power Ltd has repurchased Global Infrastructure Partners’ (GIP) stake in its thermal power business for ₹ 400 crore, in a deal that has facilitated the investor’s exit, two people with knowledge of the deal said.

The buyback was funded through the company’s internal accruals, the people cited above said, requesting anonymity. “GIP wanted to exit. That’s why the purchase was undertaken,” one of the people cited above said.

Indian Oil Corporation : India’s top oil company IOC will invest ₹ 61,077 crore in building a petrochemical complex at Paradip in Odisha – its largest ever investment at a single location – as it doubles down on its transition plan. In a statement, Indian Oil Corporation (IOC) said its board has given “Stage-1 approval for setting up Paradip petrochemical complex at Paradip, Odisha at an estimated cost of ₹ 61,077 crore. ” “This mega project will be the largest-ever investment of Indian Oil at a single location,” it said but did not give timelines for completion of the project.

MINT PREMIUM See All Premium India has much to gain from helping Sri Lanka Premium No more rights to foreign carriers in India. Why? Premium When exports decline, can PLI be of any help? Premium European carbon tax could torpedo FTA talks: Experts IDBI Bank : LIC’s acquisition of IDBI MF through its mutual fund arm gets one step closer to reality as CCI approves the scheme. On Wednesday, the Competition Commission of India (CCI) approved the proposal of LIC Mutual Fund Asset Management to acquire management rights over the schemes of IDBI MF from IDBI Asset Management.

Under the proposed deal, LIC Mutual Fund will acquire the rights to manage and administer the schemes of IDBI Mutual Fund from IDBI AMC. Also, LIC’s Mutual Fund Trustee will acquire the rights of trusteeship of the schemes of IDBI MF from IDBI MF Trustee Company. Power Finance Corp : State-run Power Finance Corporation (PFC) has signed a project loan agreement (PLA) for JPY (Japanese yen) 2.

65 billion or about ₹ 165 crore with Japan Bank for International Cooperation (JBIC). Under this facility, JBIC has proposed to finance some of PFC’s projects which ensure the effective reduction of greenhouse gas emissions and conservation of the global environment, said a statement from PFC. The agreement was executed under a general agreement signed between PFC and JBIC for JPY 30 billion.

Patel Engineering : The civil construction company that specialises in irrigation and hydropower announced today that Visvesvaraya Jala Nigama Limited (VJNL), which had previously been designated as L1, had given the company and its joint venture partner a letter of acceptance for the Tumkur Branch Canal (Package V) Micro Irrigation Project. Being a 51% participant in the JV, the company’s portion of the project is worth ₹ 281. 07 crore.

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