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Stocks to watch: Shares of firms like LIC, IndiGo, RVNL, HCL Tech, Ola Electric, Paytm, and others will be in focus on Friday’s trade
Stocks To Watch
Stocks To Watch On February 28: Indian markets traded sluggishly on the monthly expiry day, closing almost unchanged for the second consecutive session. Several stocks will be in focus today due to recent developments, including LIC, IndiGo, TVS Motor, HCL Tech, Granules, and others.
Power Finance Corporation
State-owned Power Finance Corporation (PFC) has entered into an initial agreement to provide Rs 26,800 crore in financing to power utilities in Madhya Pradesh. This funding will support critical infrastructure projects such as the development of new supercritical thermal units, solar power plants, modernization of hydropower stations, and smart metering systems under the Revamped Distribution Sector Scheme (RDSS).
Paytm
Founder Vijay Shekhar Sharma revealed that AI-driven features, requiring minimal manpower, will drive Paytm’s profitability in the next two years. The company has partnered with Perplexity AI to integrate its AI search features, which will allow users to explore topics, ask questions in Indian languages, and make financial decisions within the app.
JSW Infrastructure
JSW Infrastructure is exploring inorganic growth opportunities to expand its logistics business. The company has submitted bids for acquisitions through the National Company Law Tribunal (NCLT), aiming to acquire container freight stations (CFS) and inland container depots (ICD). JSW Infra has set a target of Rs 39,000 crore in capital expenditure by FY30, with a focus on ports and logistics.
Mahindra & Mahindra
Mahindra South Africa has signed a Memorandum of Understanding (MoU) with the Industrial Development Corporation (IDC) to study the feasibility of setting up a Completely Knocked Down (CKD) vehicle assembly facility in the country. Additionally, the company is increasing the production capacity at its KwaZulu-Natal assembly facility.
Tata Power
Tata Power’s solar manufacturing unit, TP Solar, has secured a Rs 632 crore order to supply 292.5 MWp of solar modules to the Solar Energy Corporation of India (SECI). The delivery will take place between October 2025 and January 2026 as part of SECI’s 400 MWp tender.
Ola Electric
Ola Electric has shut down its regional warehouses and will now use its 4,000 retail stores across India to manage vehicle inventory, spare parts, and deliveries. This strategic shift is expected to improve EBITDA margins by almost 10%, streamline inventory management, and speed up customer deliveries.
HCLTech
HCLTech has teamed up with Children’s Minnesota, a major pediatric health system in the US, to enhance operational efficiency and patient care using AI. The company will utilize its AI Force platform to optimize Children’s Minnesota’s operational systems with a scalable digital solution.
Bandhan Bank, IndusInd Bank, RBL Bank, IDFC First Bank
The RBI has rolled back the 25% risk weight increase on exposures to Non-Banking Financial Companies (NBFCs) and Micro-Finance Institutions (MFIs), which was introduced in November 2023. This move will support growth and improve the CET-1 ratio for banks, particularly those with significant exposure to MFIs, including Bandhan Bank, IndusInd Bank, RBL Bank, and IDFC First Bank.
Coal India
Northern Coalfields Ltd (NCL), a subsidiary of Coal India, will impose a “Singrauli Punarasthapan (rejuvenation) Charge” of Rs 300 per tonne on coal dispatches starting May 1, 2025. This additional charge is expected to generate approximately Rs 3,877.5 crore and will be applied on top of the notified coal prices.
UltraTech Cement, Polycab India, KEI Industries, Havells India, and RR Kabel
Shares of these companies fell up to 21% following UltraTech Cement’s announcement of its entry into the wire and cable (W&C) sector with an investment of Rs 1,800 crore over the next two years. Analysts predict that aggressive pricing by UltraTech may squeeze the margins of W&C companies, with KEI Industries, RR Kabel, and Polycab seeing substantial declines.
Signature Global
Signature Global is aiming to achieve zero net debt by the next fiscal year, driven by strong internal cash flow and high consumer demand for residential projects in Gurugram. The company reduced its net debt to Rs 740 crore in Q3FY24, from Rs 1,020 crore at the end of Q2FY24.
ABB India
ABB is investing $20 million to double the factory capacity at its Nelamangala plant near Bengaluru and $30 million to enhance its research and development capabilities in Hyderabad. ABB sees India becoming its third-largest market for electrification, after the US and China.
Life Insurance Corporation of India (LIC)
LIC has received a demand notice for Rs 479.88 crore for the short payment of Goods and Services Tax (GST) for FY2020-21. The notice pertains to incorrect availment and short reversal of Input Tax Credit (ITC), along with interest on late payments. LIC can appeal the notice before the Joint Commissioner of State Tax in Mumbai.
Rail Vikas Nigam Ltd (RVNL)
Ports, Shipping, and Waterways Minister Sarbananda Sonowal launched Bharat Ports Global, a consortium of public sector companies aimed at enhancing India’s presence in the global maritime economy. RVNL, a joint venture of central government-owned ports and railways PSUs, will focus on infrastructure development.
Coffee Day Enterprises
The National Company Law Appellate Tribunal (NCLAT) has annulled insolvency proceedings against Coffee Day Enterprises Ltd (CDEL), the parent company of Café Coffee Day. The proceedings were originally initiated after IDBI Trusteeship Services Ltd filed a plea in August 2024.
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