IT stocks, LIC, Mazagon Dock, Bharat Dynamics: Stocks to watch on Friday

Stocks to watch on Friday, March 22: At 8:18 am, Gift Nifty futures traded with a weakness of 0.2 per cent, or 44 points, at 22,058.5, indicating a subdued start to trading on Friday, March 22. 

Domestic benchmark indices Nifty50 and Sensex ended higher on Thursday, March 21, rising for a second straight day. Both headline indices rose 0.8 per cent, with the Nifty gaining 172.9 points to end at 22,012 and the Sensex settling at 72,641.2, up 539.5 points from its previous close.

Here are some stocks that will be in focus on Friday, March 22.

TCS and other IT stocks: IT services major Accenture slashed its fiscal year 2024 revenue guidance on Thursday to 1-3 per cent as against the earlier 2-5 per cent and has flagged gloom in IT industry spending. Reacting to the development, Infosys ADR slipped 3.8 per cent, while Wipro ADR also inched lower by 1.8 per cent.

LIC: The insurance behemoth increased its shareholding in LTIMindtree from 14,804,362 to 14,906,665 equity shares, i.e., from 4.99 per cent to 5.03 per cent stake. 

DCM Shriram Industries: The board will consider an interim dividend in a meeting on March 28.

Mazagon Dock Shipbuilders: The company accepted the Mumbai Port Authority's offer for the allotment of land and buildings (workshop land and Clark Basin), measuring 14.55 acres. The total allotment cost is around Rs 354 crore.

Bharat Dynamics: The company has approved a stock split in the ratio of 1:2. In addition, the company's board approved an interim dividend of Rs. 8.85 per equity share. 

Karnataka Bank: The bank has launched its QIP with a floor price pegged at Rs 231.43 per share, a 0.65 per cent discount to the current market price. To decide the QIP's issue price, the company's board meeting is scheduled for March 27.

Texmaco Rail: The company's QIP started on Thursday with a floor price of Rs 162.88 per share, a 1.88 per cent discount to the last traded price.

Godrej Agrovet: As per newspaper reports, PE entity Samara Capital may buy a minority stake in the company's brand Yummiez. The brand offering is part of the company's subsidiary, Godrej Tyson Foods.

Interglobe Aviation: The company's analyst meeting 2024 will be held today.

Tata Communications: The company has approved the proposal to enter into a business transfer agreement for the hive-off of the company's identified new edged digital services business to its wholly owned subsidiary, Novamesh Limited, as a going concern.

Amber Enterprises: The global brokerage CLSA has upgraded the consumer electronics major to a buy from the earlier outperform call, with the target raised to Rs 4,300.

Bata India, Metro Brands: Goldman Sachs initiated its rating on the footwear sector. For Bata India, the brokerage has suggested a 'neutral' call with a target of Rs 1,470, and for Metro Brands, the brokerage initiated a buy call with a target of Rs 1,450.

(With inputs from agencies.) 

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