Stocks to watch: PNB, BHEL, TVS Motor, IOC, Satin Creditcare, IRCTC

Nifty futures on the Singapore Exchange traded 1.17 per cent higher at 14,945 around 8.30 am, indicating a gap-up start for benchmark indices back home.

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

PNB: Punjab National Bank (PNB) has set up a wholly-owned subsidiary to manage its credit card business, the bank said, on Wednesday.

Blue Star: The company expects a growth of 25 per cent in sales of refrigeration products and cooling products next fiscal compared to 2019-20, according to a top company official.

BHEL: The firm said it has emerged as the lowest bidder (Rs 10,800 crore) for supply of equipment for 6×700 MW nuclear power projects of Nuclear Power Corporation of India.

Network: The company said its promoters have reduced their pledge percentage from 8.90 per cent on July 16 last year to 3.09 per cent as on March 16, 2021.

IOC: Indian Oil Corporation (IOC) and Israeli battery developer Phinergy on Wednesday formalised a joint venture to manufacture ultra-lightweight metal-air batteries for electric vehicles (EVs).

Kesoram Industries: BK Birla Group’s Kesoram Industries, which has raised around Rs 2,063 crore high-cost debt to aid its turnaround strategy, is hopeful to repay it in the next 25-26 months and aiming at a 30 per cent growth in its cement sales, an official said on Wednesday.

HFCL: The company has bagged an order worth Rs 221.16 crore from Uttar Pradesh Metro Rail Corporation, for design, manufacture, supply, installation, testing and commissioning of telecommunication systems for Kanpur Metro (Corridor-I and Corridor-II) and Agra Metro (Corridor-I) Projects.

TVS Motor Company: The company’s board is slated to meet on March 24 to consider and declare second interim dividend, if any, for FY21.

Somany Ceramics: The company board has declared an interim dividend of Rs 2.40 per equity share of Rs 2 each for FY21.

Indian Bank: CARE Ratings has reaffirmed outstanding rating on the bank’s proposed Tier 1, Tier 2 and infrastructure bonds and revised its outlook to Stable from Negative.

Mindtree: India Ratings and Research (Ind-Ra) has upgraded Mindtree’s long-term issuer rating to ‘IND AAA’ from ‘IND AA+’. The outlook is Stable.

IRCTC: Indian Railway Catering and Tourism Corporation (IRCTC) said there has been no major impact of terminations of mobile catering contracts in the financial year 2020-21.

Indian Metals & Ferro Alloys: Indian Metals & Ferro Alloys said ICRA has upgraded the credit rating on company’s long-term and short-term loan facilities from the banks.

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