ITC, Zomato, Aurobindo Pharma, M&M, RVNL, Aditya Birla Capital: Stocks to watch on Tuesday

Stocks to watch on Tuesday, March 12: At around 8:07 am, Gift Nifty futures traded with gains of 0.13 per cent, or 29.65 points, at 22,451, indicating a positive start to trading on Tuesday, March 12. 

Taking a breather after a record-breaking rally, the 30-share BSE Sensex declined by 616.75 points, or 0.83 per cent, to settle at 73,502.64 on Monday due to profit taking. The broader Nifty slumped by 160.90 points, or 0.72 per cent, to close at 22,332.65.

Here are some stocks that will be in focus on Tuesday, March 12: 

Mahindra & Mahindra (M&M): The company released its February production sales and export figures. 

RVNL: Rail Vikas Nigam Limited emerged as the lowest bidder (L1) from Central Railway for signalling and telecommunication work for the provision of automatic block signalling on the Khapri-Sewagram section of the Nagpur Division.

Aditya Birla Capital: The company's board approved the merger with Aditya Birla Finance, a subsidiary of Aditya Birla Capital.

Further, Aditya Birla Finance is to amalgamate with Aditya Birla Capital through an NCLT-approved scheme; the proposed amalgamation is to take 9–12 months to complete. 

KEI Industries: The company approved an interim dividend of Rs 3.5 per equity share with a face value of Rs 2 each for the financial year 2023–24. 

UCO Bank: In a clarification, the lender said that reports about steps being taken by the Central Bureau of Investigation (CBI) in accordance with their systems and protocols of investigation do not contain any new material information that has not been disclosed by the bank earlier.

ITC: British American Tobacco (BAT) may offload a stake in ITC, as per a Bloomberg report. Through the stake sale, the company may mop up $200–$300 crore. 

Kfin Technologies: Kotak Bank may sell a 2 per cent stake in the entity via a block deal and aggregate Rs 218 crore.

Aurobindo Pharma: The company's Andhra Pradesh facility has been given Good Manufacturing Practice (GMP) approval from the WHO. 

Zomato: Global brokerage HSBC has accorded a buy rating to the company with a higher target of Rs 200, implying an upside potential of Rs 200.

Oil India: Morgan Stanley has maintained an overweight rating with a raised target of Rs 745 as against the earlier suggested target of Rs 487.

Indraprastha Gas: Morgan Stanley upgrades the gas distributor to 'overweight' from the earlier 'equal weight', with a revised target of Rs 522.

Pitti Engineering: The company's board has given the nod for the acquisition of Bagadia Chaitra Industries Private Limited (BCIPL) at an enterprise value of Rs 125 crore. The said acquisition will enable the company to expand its presence in South India.

United Breweries: The company in the large beer mild segment has launched Queenfisher Premium Lager Beer in Goa.

Gokaldas Exports: SBI Mutual Fund has bought 5 lakh shares in the company, with its stake now increasing to 9.54 per cent as against the previous 8.71 per cent stake.

Interglobe Aviation: The company's promoter Rakesh Gangwal sold 5.83 per cent equity in the company at Rs 3016 per share, while Morgan Stanley Asia (Singapore) bought 21 lakh shares (0.54 per cent) at Rs 3015.1 per share.

NLC India: Retail investors' subscription in the company's OFS was at 237 per cent.

Apollo Tyres, JK Tyre: Tyre companies will gain focus after the government extended the countervailing duty on new, unused pneumatic radial tyres until July 23, 2024.

RK Swamy: The company's IPO, which concluded with an overall subscription of 25.9 times on Wednesday, March 6, will list its shares today.

(With inputs from agencies.)

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