Wipro, Ashok Leyland, TVS Motor: Stocks to watch on Thursday

Stocks to watch on Thursday, March 21:  At 8:09 am, Gifty Nifty futures traded with gains of 177.95 points or 0.81 per cent at 22,088, indicating positive opening for the markets.

Benchmark equity indices Sensex and Nifty rebounded on Wednesday, propelled by bargain hunting in index majors Reliance Industries, ITC, and SBI amid a largely firm trend in global equities.

In a highly volatile trade, the 30-share BSE Sensex rebounded 89.64 points or 0.12 per cent to settle at 72,101.69. The NSE Nifty climbed 21.65 points or 0.10 per cent to finish at 21,839.10.

Here are some stocks that will be in focus on Thursday, March 21: 

TVS Motor: The company's board approved the scheme of arrangement between TVS Motor and its shareholders for the issuance of cumulative non-convertible redeemable preference shares amounting to around Rs 1,900 crore.

Wockhardt: Zee Business exclusive news has been confirmed. The company's QIP has opened with a floor price pegged at Rs 544 per equity share. 

Torrent Power: The company has entered into a share purchase agreement for the acquisition of 100 per cent share capital of the SPV. The deal aims to establish a Transmission System for the Evacuation of Power from RE Projects in Solapur (1500 MW) SEZ in Maharashtra.

Wipro: The company appointed Anne-Marie Rowland for the role of Capco’s Chief Executive Officer.

Ashok Leyland: The company's board will consider an interim dividend in a meeting held on Monday, March 25, 2024. 

Aditya Birla Sun Life AMC: The company's OFS did not received good response from the retail investor class. Including the green-shoe option, the retail portion has been subscribed just 5.39 per cent. In total, the OFS has been subscribed 1.2 times.

RVNL: The company has been declared as the L1 bidder for a SER HQ-Electrical/South Eastern Railway project estimated at Rs 167.28 crore. 

Jana SFB: The lender has been given a partial relief as the department of income tax has rejected the company's tax demand of Rs 25 crore. "The company has already remitted appropriate amount of income-tax to Income-tax authorities under protest with respect to above disallowances, hence the Company is not expecting anyadditional cash outflows due to the above order," said the company's release.

Aarti Drugs: Gujarat Pollution Control Board  has withdrawn its earlier order of closing down the Sarigam plant.

Bharat Dynamics: In its board meeting today, the company will mull over dividend and stock split.

Avenue Supermart: CLSA has initiated its buy call on the retail major with a target of Rs 5107.

NMDC and other metal stocks to be in focus: Cit has maintained its sell call on NMDC and slashed the target to Rs 180 from the earlier Rs 215. The US metal index has risen by 2.2 per cent. 

(With inputs from agencies.) 

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