ITI, KIOCL, NTPC: Stocks to watch on Wednesday

Stocks to watch on Wednesday, March 20: At around 8:08 am, Gift Nifty futures traded with gains of 0.2 per cent or 43 points at 21,929.5, indicating positive opening for the markets today.

Benchmark equity indices Sensex and Nifty tumbled 1 per cent each on Tuesday, dragged down by a heavy sell-off in TCS, Infosys, and Reliance Industries amid weak Asian markets and fresh foreign fund outflows.

The 30-share BSE Sensex tanked 736.37 points or 1.01 per cent to settle at 72,012.05 after opening on a weak note. The NSE Nifty slumped 238.25 points or 1.08 per cent to finish at 21,817.45.

Here are some stocks that will be in focus on Wednesday, March 20: 

ITI Ltd: The government transferred 27,36,405 equity shares to the Special National Investment Fund (SNIF) on March 12, 2024. 

GPT Healthcare: The company reported a profit after tax (PAT) of Rs 11.47 crore against Rs 8.354 crore a year ago. The company also declared a second interim dividend at the rate of 10 per cent on the face value of the equity shares of Rs 10.

KIOCL: The company installed four No's vertical pressure filters in the Pellet Plant Unit. The capacity of each filter is 100 tonnes/hr. 

NTPC: The company has decided to issue unsecured non-convertible debentures of Rs 1,500 crore for a tenor of two years.

Route Mobile: Proximus Opal launches an open offer to buy 1.64 crore shares of  the company from public shareholders. This open offer to be executed at a price of Rs 1626.4 will run between March 27 and April 12.

Aurobindo Pharma: The company has received the USFDA approval for the nasal spray. This medicine will be launched in the first quarter of the fiscal year 2025.

Zomato: The company has launched a complete vegetarian delivery service and post the move global brokerage 
Bernstein has maintained an Outperform view on Zomato with a new target of Rs 200 as against Rs 180 earlier.

Shakti Pumps: The company launched its QIP yesterday with a floor price pegged at Rs 1272.09 per share, while the issue price for the same will be decided at the board's meeting scheduled on March 22.

NCL Industries:  Promoter Penmetsa Narasimha Raju has sold 75,000 shares in the open market in the entity with his stake reduced to 2.07 per cent after the stake sale.

Eicher Motors: UBS has double upgraded the stock to buy with a higher target of Rs 5000 per share. 
 
(With inputs from agencies.) 

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