GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Wednesday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded higher as the index was down 172 points or 0.79% at 21,646.50 indicating a negative start for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 gained 127.20 points or 0.59% to settle at 21,743.25, while the BSE Sensex closed 482.70 points or 0.68% higher at 71,555.19.

Stocks to Watch on February 14, 2024

LTIMindtree

Stocks To Watch: Maruti Suzuki India, GMR Airports Infra, Brightcom Group, Hindustan Zinc, Adani Enterprises, Kolte-Patil Developers Stocks To Watch: Eicher Motors, LIC, Cochin Shipyard, Biocon, Oil India, SJVN, Grasim, Alkem Lab, OLA Electric Mobility Stocks To Watch: Realty Stocks, Lupin, Tata Power, PB Fintech, SBI, Suzlon Energy, Godrej Consumer, ABFRL Stocks To Watch: Tata Consumer Products, Varun Beverages, JSW Infra, IOC, Vodafone Idea

LTIMindtree, the sixth largest Indian IT firm, is grooming two internal candidates for the CEO role, even as the company is grappling with top-level changes, according to sources.

BEL

For procurement of 11 Shakti Electronic Warfare Systems along with associated equipment/accessories for the Indian Navy a contract worth Rs 2269.54 crore was inked between the Ministry of Defence and Bharat Electronics Limited, Hyderabad. This will be procured under the Buy (Indian- IDDM) category.

Oil India

Oil India reported a 9.3% fall in third-quarter profit on Tuesday, hit by lower prices for crude oil and a windfall tax levied by the government. Standalone profit was 15.84 billion rupees ($191 million) for the quarter ended Dec. 31, compared with 17.46 billion rupees a year earlier.

Sterlite Power

Sterlite Power has secured Rs 2,400 crore of funding from state-owned REC Power Development and Consultancy Ltd (RECPDCL) for its Beawar transmission project in Rajasthan. 

Info Edge

Info Edge India Limited on Tuesday recorded its fiscal third-quarter profit at Rs 151.09 crore against a loss of Rs 116.53 crore during the third quarter of FY23. It posted revenue from operations at Rs 627.12 crore, up 6.4% compared to Rs 589.52 crore during the corresponding quarter of the previous year. 

Kalyani Steel

Kalyani Steel Limited has proposed to invest Rs 26,000 crore to set up a titanium metal and aerospace components manufacturing and integrated advanced specialty steel and automotive components manufacturing complex at Gajamara in Odisha’s Dhenkanal district, an official said on Tuesday.

Bandhan Bank

The National Credit Guarantee Trustee Company (NCGTC), a state-run entity that operates and manages various credit guarantee trust funds of the government, has asked one of the Big 4 accounting firms to do a forensic audit of the Rs 20,800-crore microloan portfolio of Bandhan Bank. In an interview, Chandra Shekhar Ghosh, managing director and CEO of Bandhan Bank, denied reports of evergreening of loans.

Adani Ports and SEZ

Moody’s Investors Service has revised the ratings of four Adani Group companies to ‘stable’, a year after they were downgraded to ‘negative’ following a report by short-seller Hindenburg Research. The rating agency has revised the outlook on Adani Green Energy, Adani Green Energy Restricted Group (AGEL – RG-1), Adani Transmission Step-One, and Adani Electricity Mumbai, it said in a statement.

“we would like to inform you that Moody’s Investor Service has re-affirmed its investment grade rating ‘Baa3‘, the outlook remains stable,” said an exchange filing.

Gokaldas Exports

ICRA Ratings has placed “Rating Watch with Developing Implications” on the ratings of the company after the announcement made by the company regarding the acquisition of Matrix Design & Industries Private Limited, according to an exchange filing.

Asian Hotels (East)

The company has availed better financial assistance amounting to Rs 160 crores from Axis Finance Limited, Mumbai to repay the existing loan, according to an exchange filing. 

UPL

The company has incorporated a step-down subsidiary in Tanzania, named Advanta Seeds Tanzania. The Tanzania-based company would be a step-down subsidiary at Advanta Seed structure under Advanta Enterprises Limited, India in which UPL holds 86.67% shareholding, making it a related party transaction.

Key earnings today

Aditya Birla Fashion & Retail, Ashapura Minechem, Axiscades Technologies, Alembic, AVT Natural Products, BGR Energy Systems, Apollo Sindoori Hotels, AVG Logistics, Aries Agro, Bannari Amman Spinning Mills, Bhandari Hosiery Exports, Aarey Drugs and Pharmaceuticals, Akash Infraprojects, Fertilisers and Chemicals Travancore, Crompton Greaves Consumer Electrical, Ethos, DCW, BL Kashyap & Sons, Eros International Media, Cinevista, Gland Pharma, Glenmark Pharma, Gujarat State Petronet, Indiabulls Housing Finance, Hinduja Global Solutions, GVK Power & Infrastructure, HPL Electric & Power, Indian Terrain Fashions, Gujarat Apollo Industries, Mahindra and Mahindra, Ipca Laboratories, Jyoti CNC Automation, KPI Green Energy, Kirloskar Brothers, Jindal Poly Films, Jindal Poly Investment and Finance Company, Liberty Shoes, NMDC, Muthoot Finance, Narayana Hrudayalaya, NMDC Steel, Natco Pharma, National Fertilizers, Orient Green Power Company, Munjal Auto Industries, Nectar Lifesciences, PTC India, Polyplex Corporation, PC Jeweller, Roto Pumps, Rana Sugars, Reliance Chemotex Industries, Sun TV Network, Wockhardt, Suprajit Engineering, Steel Exchange India, Tourism Finance Corp of India, Vardhman Holdings, South West Pinnacle Exploration, SVP Global Textiles, Yatra Online, Zodiac Clothing Company, Zee Learn.