Stocks to watch: MTAR Tech, SBI Card, Vodafone Idea, Titan, JSPL, NMDC

Nifty futures on the Singapore Exchange traded 0.42 per cent higher at 15,093 around 8.40 am, indicating a firm start for benchmark indices on Monday.

Here are the top stocks that are likely to stay in focus today:

MTAR Tech: Shares of MTAR Technologies will debut on the bourses today. The issue which ran between March 3-5 was subscribed over 200 times. The segment reserved for retail investors was subscribed 28.4 times, qualified institutional buyers category was subscribed 165 times and non-institutional category received 650.79 times subscription.

SBI Card: SBI Cards and Payment Services (SBI Card), on Friday, said it has received the board’s nod to raise up to Rs 2,000 crore by issuing bonds. The company said it will raise the money in one or more tranches over a period of time.

ONGC: The company has seen its contribution to the national production jump to over 70 per cent from under 53 per cent a decade back, petroleum ministry data showed.

NMDC: The company, on Friday, said its board has approved an interim dividend of Rs 7.76 per share for the current financial year.

JSPL: Jindal Steel and Power (JSPL) reported an 18 per cent jump in its crude steel output to 6.53 lakh tonnes (LT) in February this year. The company had produced 5.54 LT steel in February 2020, said in a statement.

Vodafone Idea: Vodafone Idea Ltd (VIL) is planning to raise up to $750 million (about Rs 5,500 crore) via convertible bonds to repay its adjusted gross revenue (AGR) dues and spectrum fees to the government. READ HERE

Tata Motors: Auto major Tata Motors is optimistic that the supply constraint of semiconductors that has impacted its commercial vehicles production will be back to normal by the second half of the next fiscal, according to a senior company official.

Tata Communication: The government will sell its entire stake in Tata Communications through an offer for sale and the rest to Tata Son’s investment arm Panatone Finvest Ltd, according to a regulatory filing. Currently, the government holds 26.12 per cent stake in Tata Communications, Panatone Finvest Ltd 34.8 per cent and Tata Sons 14.07 per cent, respectively.

Titan: The Tata group firm said it has completed its exit from joint venture Montblanc India Retail, which operates retail boutiques in the country for Montblanc products.

NHPC: The company said it has paid Rs 890.85 crore as an interim dividend to the Centre for the financial year ending March 31, 2021.

UCO Bank: Ishraq Ali Khan has taken over as executive director (ED) of state-owned UCO Bank. Prior to taking over as the bank’s ED, he was the chief general manager of Union Bank of India.

DLF: The company board will meet on March 17 to consider the proposal of offering secured NCDs aggregating upto Rs 500 crore in one or more traches.

Kotak Mahindra Bank: The board of directors have approved dividend on 8.10 percent non-convertible perpetual non-cumulative preference shares for FY21.

Asian Hotels: India Ratings has downgraded the credit rating for the bank facilities availed by the company as ‘IND BB+/Negative’.

Power Finance Corporation: The board has declared interim dividend of Rs 8 per equity share for FY21.

IIFL Finance: The NBFC has decided to excercise the option of early closure of its bond issue and will close it on March 18 as against March 23 decided earlier.

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