Stocks to watch on Wednesday, March 6: Gift Nifty futures at around 8:09 am traded weak, tracking overnight weakness in the US markets. The benchmark, indicative of the Nifty's likely performance, traded down by 6.25 points, or 0.03 per cent at 22,427.

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The stock market concluded on a negative note on Tuesday, snapping a four-day winning streak amid tepid global sentiment and profit booking in IT shares.

The BSE Sensex dropped by 195.16 points, closing at 73,677.13, while the Nifty shed 49.30 points to close at 22,356.30. 

Here are some stocks that will be in focus on Wednesday, March 6.

Wipro: General Motors and Wipro have partnered to develop a B2B sales platform for buying and selling automotive software.

NHPC: Prime Minister Narendra Modi laid the foundation stone of the 1,200 MW Jalaun Ultra Renewable Energy Power Park located in Orai and Madhogarh Tehsil of District Jalaun, Uttar Pradesh, through virtual mode on March 4, 2024. 

The solar park will be developed by Bundelkhand Saur Urja, a subsidiary company of NHPC, with an investment of Rs 796.96 crore. 

Signature Global (India): Intending to comply with the requirement of a minimum paid-up capital of Rs 35 crore, Signature Global Business Park, a wholly-owned subsidiary, has approved the investment of Rs 29,90,00,000. 

SBPPL has received an LOI from the Directorate of Town & Country Planning (DTCP), Haryana, for setting up a project over an area of 128.69 acres, and as stipulated by one of the conditions by DTCP, the company has to ensure to have a minimum paid-up capital of Rs 35 crore.

CG Power & Industrial Solutions: The company received a demand order from the Income Tax Department for the assessment year 2022–23, amounting to Rs 1,88,78,91,580. 

Sonata Software: The company will set up a delivery centre in Kraków, Poland. The nearshore centre will support the growing demands for business transformation, modernisation, and cost optimisation initiatives from global clients in Europe. 

Zomato: A block deal in the food services company is expected, which could see 17.64 crore shares changing hands. Antfin Singapore, via the deal, can offload its stake in the entity.

Samvardhana Motherson: The company's promoter will dilute a 4.5 per cent stake in the entity at Rs 121–122 per share, a discount of 4 per cent from the previous close.

JM Financial: The RBI has restricted the company from lending against shares and debentures. The apex body has found irregularities in the IPO financing and NCD subscription processes.

IIFL Finance: Jefferies has double-downgraded the stock to hold and slashed the target to Rs 435 as against the earlier Rs 765.

Havells: The company is expanding its product portfolio by foraying into kitchen appliances and allied products. The company aims to be among the top 3 companies in 3 years after it launches its first product within the segment in May 2024.

Aditya Birla Fashion and Retail: Caladium Investment Pte. Ltd. (Acquirer/GIC Investor), wholly owned by Lathe Investment has converted 6.58 crore warrant to equity in the ratio of 1:1.

Mahanagar Gas Limited: The company has slashed the CNG rate by Rs 2.5 per kg, with the new rate at Rs 73.5 per kg. Citi has downgraded the company to 'sell' from 'buy' with a target cut to Rs 1405.
 
Bharat Dynamics: The company will consider a stock split in its board meeting on March 21.

Aavas Financiers: The company's promoter sold around a 12 per cent stake yesterday, while Amansa Holdings (non-promoter) bought 23.59 lakh (2.9%) shares at Rs 1370 per share. SBI MF bought 63 lakh (7.9%) shares at Rs 1370 per share.

REC: The company will mull over the third interim dividend on March 16. 

GR Infra: The company, to adhere to the minimum shareholding norm, will offload a 5 per cent stake. 

(With inputs from agencies.)

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