Asian Paints, Cipla, Torrent Power: Stocks to watch on Saturday

Stocks to watch on Saturday, March 2: Domestic equity benchmarks are set for a positive start to the day in a special, two-part trading session on Saturday, March 2, with the GIFT Nifty futures, an early indicator of the headline Nifty50 index, quoting 67.8 points, or 0.3 per cent, higher at 22,511 at the last count.

Saturday's special session is to test the exchanges' preparedness and capabilities to handle major disruption or failure at the primary site and to switch over to a disaster recovery (DR) site at the occurrence of such events. Both bourses will start trading first for 45 minutes at 9:15 am and then for an hour at 11:30 am each following pre-opening windows spanning a few minutes. 

On Friday, the bulls ruled Dalal Street, as the headline indices surged boosted by financial and oil & gas shares to settle at record peaks. The Sensex zoomed 1,245.1 points, or 1.7 per cent, to end at 73,745.4 and the Nifty50 settled 356 points, or 1.6 per cent, higher at 22,338.8, both record closing highs.

Here are some stocks that will be in focus on Saturday, March 2:

Auto stocks: Hero MotoCorp reported its monthly sales numbers post-market hours on Friday.   

Paytm: The Financial Intelligence Unit-India, under the Finance Ministry's Department of Revenue, imposed a penalty of Rs 5.49 crore on Paytm Payments Bank citing violations of obligations under the Prevention of Money Laundering Act (PMLA).

Cipla: A pre-approval inspection was conducted by the United States Food and Drug Administration (USFDA) at the manufacturing facility of Cipla (Jiangsu) Pharmaceutical Co., Ltd. (a subsidiary of the company) located in China. The inspection concluded with zero Form 483 observations.

Torrent Power: The company emerged as the successful bidder and has received a Letter of Award from Railway Energy Management Company Limited (REMCL) for setting up grid-connected renewable power projects, with or without storage, for the supply of 100 MW round-the-clock power. The project cost is approximately Rs 2,700 crore. 

Asian Paints: The company got a letter allotting 166 acres of land situated at Pithampur, Madhya Pradesh, for setting up a new water-based paint manufacturing facility with a capacity of four lakh kl per annum. In this regard, the company is in the process of executing the necessary agreements with MP Industrial Development Corporation Limited.

Sudarshan Chemical Industries: The company's board will consider an interim dividend in a meeting on Wednesday, March 6, 2024. 
 
With inputs from agencies

Catch the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.