Ashok Leyland, Paytm, Punjab & Sind Bank: Stocks to watch on Monday

Stocks to watch on Monday, February 26: The domestic equities on Monday, February 26, opened in the red.

Here are some stocks that will be in focus on Monday, February 26.

Paytm: The Reserve Bank of India said on Friday that NPCI has been asked to examine the possibility of Paytm becoming a third-party application provider for continued UPI operations of the Paytm app.

Rail stocks: PM Modi, via video conferencing, will lay the foundation stones for, unveil, and dedicate as many as 2000 rail infrastructure projects costing around Rs 41,000 crore, and amid it, rail stocks shall gain traction.

Ashok Leyland: The company invested Rs 24.95 crore in TVS Trucks and Buses Private Limited (TVS Trucks) by way of shares.

KIOCL Ltd: The company situated in Mangalore, is planned to be suspended with effect from February 24, 2024, due to the ongoing downward trend in pellet market conditions.

Tips Industries: The board will consider buyback in a meeting on Wednesday, February 28, 2024. 

Punjab & Sind Bank: The board will consider raising capital to Rs 2,000 crore within 12 months from the date of approval. 

HDFC Bank: The RBI has approved the stake sale of as much as 90 per cent in HDFC Credila by HDFC Bank.

Piramal Pharma: The USFDA has undertaken the inspection at the company's Lexington facility between February 20 and February 23 and issued two observations with Form 483.

HUDCO: The state-run company will sell a stake of 0.17 per cent through the open market to comply with the minimum 25 per cent public shareholding norm. 

Suven Pharma: The USFDA has completed the pre-approval as well as a good manufacturing practice inspection at the company's Hyderabad API and formulation facility. The pharma company has not been issued any Form 483.

Transformers And Rectifiers (India): The company has bagged an order worth Rs 232 crore from Power Grid Corporation.

RITES: The company has bagged an order estimated at Rs 414 crore for building up the campus infrastructure at IIT Bhubaneshwar.

JSW Infrastructure: The company has secured an order from V.O. Chidambaranar Port Authority.

Sanofi: The company's Q3 margin expanded to 26.9 per cent from 24.8 per cent. Also, profit at the company grew 5.3 per cent year-on-year (YoY). The company has declared a total dividend of Rs 167 per share.

Rain Industries: The company for Q3 has reported a loss of Rs 1,119 crore as against a loss of Rs 90 crore. The revenue at the company also declined by 24.8 per cent on-year. For the said period, the company's adjusted EBITDA loss was Rs 537.6 crore as against an adjusted EBITDA of Rs 657.3 crore.

Asian Paints: The company's stock has been downgraded sharply given Grasim's aggressive foray in the space. CLSA has downgraded the stock to 'sell' from 'underperform' with a reduced target of Rs 2,425 from Rs 3,215.

(With inputs from agencies.)

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