The upcoming shortened week in the domestic stock market is expected to begin with a sense of caution, following a period of fatigue and time-related adjustments last week. However, there are a few specific shares that will attract attention due to individual corporate developments. Here are some stocks to keep an eye on today.
Zomato: The company has announced that it is currently engaged in talks with Paytm regarding the potential acquisition of Paytm’s movies and ticketing business. It is important to note that, at this stage, no definitive decision has been made that would require approval from Zomato’s board or subsequent disclosure in accordance with relevant laws.
Hindustan Aeronautics Ltd: HAL shares are in the spotlight following the announcement by the PSU defense company that the Ministry of Defense has issued a Request for Proposal (RFP) for the procurement of 156 Light Combat Helicopters. This consists of 90 units for the Indian Army and 66 units for the IAF.
Paytm: The company’s stock is making headlines as Non-Executive Independent Director Neeraj Arora has stepped down from his position. Paytm has appointed Rajeev Krishnamuralilal Agarwal as the new Non-Executive Independent Director.
Le Travenues Technology: The shares of the parent company of Ixigo will be listed on both BSE and NSE today. The company successfully raised Rs 740.10 crore through its primary offering, which included a fresh share sale of Rs 120 crore and an offer-for-sale (OFS) of up to 6,66,77,674 equity shares.
Wipro: Wipro and GBST, a global provider of technology solutions for the financial services industry, have formed a strategic partnership to offer comprehensive administration services for superannuation, wealth, and pensions companies transitioning from outdated IT systems.
Ashoka Buildcon: Ashoka Buildcon has received a credit rating of CARE AA- /Stable for its long term bank facilities worth Rs 200 crore, and a rating of CARE AA-/Stable/CARE A1+ for its long term/short term bank facilities worth Rs 500 crore.
Vodafone Idea, Indus Towers: According to Reuters, Vodafone Idea is making preparations to sell its entire stake of $2.3 billion in Indus Towers through block deals. The stake, which amounts to 21.5%, will be divested fully or partially based on market demand and is currently held through various entities.
IIFL Finance : IIFL Finance has announced that the special RBI audit has been concluded and they are now awaiting the RBI’s review. They are optimistic about receiving positive action soon. In the March quarter, IIFL Finance reported a net profit after tax of Rs 431 crore (before non-controlling interest), which is a 6% decrease compared to the previous year.
LIC: LIC is reportedly planning to sell land and buildings in order to raise funds, with a target of $6-7 billion. This may include iconic properties such as New Delhi’s Jeewan Bharti building and the Chittaranjan Avenue building in Kolkata.
TCS: TCS has received an unfavorable judgement from the United States District Court, Northern District of Texas, Dallas Division. The details of this judgement can be found in Annexure A. However, TCS believes that they have strong arguments in their favor and they intend to defend their position through a review petition or appeal to the appropriate court.