Stocks in Focus on February 28: Telecom Stocks, Auto Stocks, Insurance Stocks, Maruti Suzuki, MCX and many more

The domestic stock market ended with robust gains on Friday, February 25, 2022, amid positive global cues. The BSE Sensex surged 1,328.61 points or 2.44% to 55,858.52. The Nifty 50 index jumped 410.45 points or 2.53% to 16,658.40. All the sectoral indices on the NSE rallied. Realty, metals and PSU banks were in demand. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Monday, February 28, 2022. List of such Stocks:

Q3FY22 Earnings 

Rain Industries: One of the world's leading producers of calcined petroleum coke, coal tar pitch and other high-quality basic and speciality chemicals has reported a consolidated net loss of Rs 97 crore for the quarter ended December 31, 2021, against a consolidated profit of Rs 307 crore posted in the corresponding quarter of the previous financial year. The company has reported a loss due to deferred tax reversal in the German Subsidiary. Revenue from operations rose 52.5% YoY to Rs 4,026 crore against Rs 2,640 crore posted last year. EBITDA stood at Rs 488.5 crore, up 28.2% YoY from Rs 381 crore posted last year. Margins dropped to 12.1% in Q3FY22 from 14.4% posted in Q3FY21.

Stocks in News

LIC IPO: Government has permitted up to 20% Foreign Direct Investment (FDI) under automatic route in Life Insurance Corporation of India (LIC) with an aim to facilitate disinvestment of the country's largest insurer.

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Bharti Airtel / Indus Tower: Bharti Airtel has entered into an agreement with Vodafone PLC to buy 4.7 per cent equity interest in Indus Towers. The agreement is based on the principal condition that the amount paid shall be inducted by Vodafone as fresh equity in Vodafone Idea Limited (VIL) and simultaneously remitted to Indus Towers to clear VIL's outstanding dues. Airtel is also protected with a capped price that is lower than the price for the block of Indus shares sold by Vodafone on February 24, 2022. The last deal was done at Rs 227 per share. Bharti Airtel currently holds a 41.73% stake in Indus Towers.

Vodafone Idea: The Board of Directors of the Company is scheduled to meet on March 3, 2022, to consider and approve proposals for raising of funds in one or more tranches by way of preferential allotment, private placement, including a qualified institutions placement or through any other permissible mode.

Biocon: Biocon Biologics Ltd., a subsidiary of Biocon Ltd., announced today that it has entered into a definitive agreement with its partner Viatris Inc. to acquire Viatris' Biosimilars Assets for around Rs 25,000 crore in stock and cash.

Tata Motors / Ashok Leyland / Eicher / M&M / Mahindra Logistics, GATI, Allcargo Logistics: The Union Ministry of Road Transport and Highways has allowed three decks on big trucks/trailers for carrying two-wheelers. The third deck should not be above the driver's cabin. This new decision by the government will also increase the carrying capacity of the vehicles. It is expected that the transportation of two-wheelers will be increased by 40 to 50 per cent with these new rules. 

ICICI Lombard / New India Assurance: The compensation to the families of hit-and-run victims has been increased by the Union Ministry of Road Transport and Highways. The compensation in case of death has been increased from Rs 25,000 to Rs 2 lakh from April 1, 2022. The relief to a person sustaining grievous injuries in a hit-and-run case will now be increased to Rs 50,000 from the current Rs 12,500. The government will set up the Motor Vehicles Accident Fund, which will be used for providing compensation in case of hit-and-run cases and treatment for accident victims. Accident Victims will get cashless treatment. The claim will be received in 30 days. 

Bata / Liberty Shoes / Linc Pens / Navneet Edu / JK Paper: Mumbai is set to resume schools with full attendance from March 2, 2022. Schools have been permitted to go back to pre-COVID timings. 

Maruti Suzuki: Maruti Suzuki has launched the New WagonR in an all-new avatar at a starting price of Rs 5.39 lakh (ex-showroom, Delhi).

MCX: Market regulator SEBI has released a consultation paper suggesting foreign portfolio investors (FPIs) should be allowed to trade in all non-agricultural commodity derivatives and a few selected broad agricultural commodity derivatives, to begin with. To begin with, the position limits for FPIs may be considered to be at par with those presently applicable for mutual funds since both FPI and mutual funds are institutional investors. The Securities and Exchange Board of India (Sebi) has sought comments till March 24 on the proposals. Zee Business had earlier informed that a consultation paper will come soon. 

Metropolis Healthcare: SmallCap World Fund has sold 10.48 lakh shares (2.05% stake) of the company in the open market on February 24, 2022. With this stake sale, it has reduced its stake in the company from 5.65% to 3.06%.