InterGlobe Aviation, life insurance stocks, RVNL, NLC India, HDFC Bank: Stocks to watch on Monday

Stocks to watch on Monday, March 11: Around 7:47 am, Gift Nifty futures traded with gains of 87.65 points, or 0.39 per cent,  at 22,640, indicating a positive opening for Indian equities today.

The domestic market was closed on Friday, March 8, on account of Maha Shivratri. On Thursday, equity benchmark indices Sensex and Nifty hit their fresh record peaks in early trade amid firm trends in US markets and foreign fund inflows. 

The 30-share BSE Sensex climbed 159.18 points to reach an all-time high of 74,245.17 in early trade. The Nifty went up by 49.6 points to 22,523.65. However, later, markets turned volatile, and both the benchmark indices were trading between highs and lows.

Here are some stocks that will be in focus on Monday, March 11.

Interglobe Aviation: A block deal in the aviation major is expected today, wherein the company's co-founder Rakesh Gangwal and family may offload a 5.8 per cent stake.

HDFC Bank: CLSA has downgraded the stock with an 'outperform' view and reduced the target price to Rs 1,650.

SBI Card and bank stocks to be in focus: The stocks will be in focus amid changes in the norms for issuance of debit and credit cards.

NLC India: The company's OFS will open today for retail investors. The non-retail category was oversubscribed by 2.92 times.

LIC and other insurance stocks: In February, the industry witnessed significant growth in new business premiums (NBP). For LIC, NBP expanded by 67 per cent. 

HG Infra: The company has bagged an order worth Rs 610 crore from NHAI for the construction of a 4-lane highway in Jamshedpur.

Sonata Software: The company announced the integration of Sonata Harmoni.AI with the Microsoft Azure AI service. This integration complements Sonata’s collaboration with Microsoft Fabric and its position as a Microsoft AI Partner Council member.

Gujarat Gas/BPCL: Gujarat Gas and Bharat Petroleum Corporation Limited (BPCL) have entered into a Memorandum of Understanding (MOU). The companies will collaborate on various fronts to streamline operations and improve service delivery:

>>Provision of Liquid Fuels.

>> Supply of Automotive Lubricants.

>> Expansion of CNG Infrastructure.

Muthoot Capital Services: The company issued Commercial Paper (CP) amounting to Rs 25 crore in accordance with the guidelines issued by the Reserve Bank of India.

Vedanta: The Securities and Exchange Board of India (SEBI) has issued an administrative warning to the company's board to take necessary corrective steps to strengthen the internal control for corporate announcements. 

RVNL: The company bagged an order worth over Rs 409 crore from the Himachal Pradesh State Electricity Board for the development of distribution infrastructure in the North Zone of Himachal Pradesh. BHEL/NBCC: BHEL has signed two Memorandum of Understanding (MoUs) with NBCC (India) for: 

>>Redevelopment of identified properties/facilities.

>>Renting/Licensing of identified buildings/properties of BHEL.

Tata Communications: The company opened a new world-class production and delivery facility in Los Angeles, an investment that will support the future development of its services and business growth. BSE: The boards of BSE Technologies Private Limited (BTPL), a subsidiary of BSE, and BSE Tech Infra Services, a subsidiary of BTPL, have accepted the merger proposal.

Titagarh Rail Systems and RVNL: Titagarh has secured an order of around Rs 1,909 crore from the Railway Board. On the other hand, RVNL has bagged 4 orders totalling around Rs 2,093 crore.

Telecom and telecom equipment stocks in focus: The Department of Telecom has sought applications from telecom companies for spectrum auctions, which will start from May 20, 2024.

Dwarikesh Sugar: The company's board has approved a share buyback of Rs 31.51 crore for Rs 105 per share, a 29 per cent premium to Friday's closing. 
 
M&M: HSBC has maintained buy on the counter with a target of Rs 2,300 per share.

(With inputs from agencies)

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