Stocks to Watch: Vedanta, Adani Group, Britannia and Others
Table of Contents
• Adani Group
• Vedanta
• Jindal Stainless
• JSW Energy
• NHPC
• PNB Housing Finance
• Britannia
• Zydus Lifesciences
• Conclusion
• FAQs
Top Stocks to Buy for Today
Adani Group
Adani Group was in the news recently due to rumors about unreleased pledged shares. The company's CFO, Jugeshinder Robbie Singh, denied the rumors, stating that they were a "deliberate misrepresentation." According to Singh, stock exchanges update data on promoter share pledges at the end of the quarter.
Vedanta
The board of Anil Agarwal-led Vedanta recently approved the company’s fifth interim dividend for FY23, Rs 20.50 per equity share. With this, the company’s total dividend outgo for the ongoing financial year would be its highest ever, at Rs 37,730 crore. This news is likely to be received positively by investors.
Jindal Stainless
Jindal Stainless and New Yaking Pte, which is part of Eternal Tsingshan Singapore, have signed an agreement to set up a nickel pig iron (NPI) smelter in Indonesia. Jindal Stainless will invest Rs 1,200-1,300 crore, giving it a 49% stake in the joint venture (JV) company while the balance would be with New Yaking. This move is expected to help the company expand its business and improve its bottom line.
JSW Energy
Reliance, Tata Power Solar, and JSW Energy have been allotted sums in different categories in the second tranche of the solar PLI (production-linked incentive) scheme totaling Rs 13,937 crore. Reliance alone has received Rs 3,098 crore.
NHPC
NHPC, a power generation company, has approved the proposal for raising debt up to Rs 5,600 crore in the financial year 2023-24 through the issuance of secured/unsecured, redeemable, taxable, non-cumulative non-convertible Corporate Bonds in one or more series/tranches.
PNB Housing Finance
PNB Housing Finance has approved a Rights Issue worth Rs 2,494 crore. The company plans to issue 90.68 million fully paid-up equity shares, each for Rs 275. The record date for determining the eligibility of shareholders for participation in the rights issue has been set for Wednesday, April 5, 2023. Subscription for the Rights Issue will be open from April 13 - April 27, 2023.
Britannia
Britannia, a food company, has scheduled a board meeting on April 4 to consider the payment of interim dividend for the financial year 2022‐23.
Zydus Lifesciences
Zydus Lifesciences has received final approval for Loperamide Hydrochloride Capsules from the United States Food and Drug Administration (USFDA). Loperamide hydrochloride capsule is indicated for the control and symptomatic relief of acute nonspecific diarrhea and chronic diarrhea associated with inflammatory bowel disease.
Conclusion
In conclusion, the stock market is a dynamic space that is constantly evolving, and it can be difficult to keep up with the ever-changing trends and shifts. However, by keeping an eye on the stocks that are making headlines and closely following the news and updates, investors can make informed decisions and potentially profit from the market's volatility.
Some of the key stocks to watch in the coming days include Adani Group, Vedanta, Jindal Stainless, JSW Energy, NHPC, PNB Housing Finance, Britannia, and Zydus Lifesciences. Each of these companies has made significant developments recently that are likely to impact their stock prices and investor sentiment.
As always, it is important for investors to conduct their due diligence and carefully analyze each stock before making any investment decisions. By staying informed and being proactive, investors can navigate the stock market with greater confidence and potentially reap the rewards of their investments.
Overall, while the stock market can be unpredictable and volatile, it is also a space full of opportunities for those who are willing to put in the time and effort to stay informed and make smart investment decisions. By keeping a watchful eye on the key stocks discussed in this article, investors can potentially benefit from the market's movements and achieve their financial goals.
FAQS
Q: What are some of the stocks to watch in the Indian market?
A: Some of the stocks to watch in the Indian market include Adani Group, Vedanta, Jindal Stainless, JSW Energy, NHPC, PNB Housing Finance, Britannia, and Zydus Lifesciences.
Q: Why was Adani Group in the news recently?
A: Adani Group was in the news recently due to rumors about unreleased pledged shares. The company's CFO, Jugeshinder Robbie Singh, denied the rumors, stating that they were a "deliberate misrepresentation." According to Singh, stock exchanges update data on promoter share pledges at the end of the quarter.
Q: What is the latest update on Vedanta?
A: The board of Anil Agarwal-led Vedanta recently approved the company’s fifth interim dividend for FY23, Rs 20.50 per equity share. With this, the company’s total dividend outgo for the ongoing financial year would be its highest ever, at Rs 37,730 crore. This news is likely to be received positively by investors.
Q: What is Jindal Stainless planning to do?
A: Jindal Stainless and New Yaking Pte, which is part of Eternal Tsingshan Singapore, have signed an agreement to set up a nickel pig iron (NPI) smelter in Indonesia. Jindal Stainless will invest Rs 1,200-1,300 crore, giving it a 49% stake in the joint venture (JV) company while the balance would be with New Yaking. This move is expected to help the company expand its business and improve its bottom line.
Q: What is the latest news on JSW Energy?
A: Reliance, Tata Power Solar, and JSW Energy have been allotted sums in different categories in the second tranche of the solar PLI (production-linked incentive) scheme totaling Rs 13,937 crore. Reliance alone has received Rs 3,098 crore.