Home Business Stocks to Watch: HDFC Bank, Zee Ent, Kotak Bank, Paytm, JSW Infra, Biocon, and Others – News18

Stocks to Watch: HDFC Bank, Zee Ent, Kotak Bank, Paytm, JSW Infra, Biocon, and Others – News18

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Stocks to Watch: HDFC Bank, Zee Ent, Kotak Bank, Paytm, JSW Infra, Biocon, and Others – News18

Last Updated: February 26, 2024, 08:18 IST

Stocks to Watch on Feb 26

Stocks to Watch on Feb 26

Stocks to watch: Shares of firms like HDFC Bank, Zee Ent, Kotak Bank, Paytm, JSW Infra, Biocon, and others will be in focus on Monday’s trade.

Stocks To Watch On February 26: Domestic equities ended the last week lower in a lackluster trade as the hawkish tone of RBI in its meeting minutes dented investor sentiment.

HDFC Bank: It has received RBI approval to sell its 90 per cent stake in education loan subsidiary HDFC Credila Financial Services. The stake will be sold to a consortium of private equity firms including BPEA EQT and ChrysCapital Group.

Infibeam Avenues: The company has acquired a 20 per cent strategic stake in XDuce, a US-based AI development company, for $10 million. The latter will support Infibeam’s payment gateway brand CCAvenue in the US.

Kotak Mahindra Bank: Zurich Insurance will acquire a 70 per cent stake in the bank’s general insurance arm, Kotak Mahindra General Insurance, for Rs 5,560 crore, in a single tranche. The bank had received CCI nod for the said stake sale this month.

Zee Entertainment: Its board has constituted an independent advisory committee headed by Satish Chandra, a retired judge of Allahabad High Court, to curb erosion of its investor wealth caused in the wake of recent speculations related to new talks on merger with Sony and Sebi finding an accounting fraud.

Paytm: The RBI has asked the National Payments Corporation of India (NPCI) to look into the possibility of migrating Paytm Payments Bank customers using the UPI handle ‘@paytm’ to 4-5 other banks, in order to prevent any disruptions in the payment ecosystem.

JSW Infrastructure: The company has received a letter of award from the VO Chidambaranar Port Authority for mechanisation of the North Cargo Berth-III (NCB-III) to handle dry bulk cargo at the port on a design, build, finance, operate and transfer basis through through the PPP route.

Biocon: The company has issued a corporate guarantee worth $20 million in favour of Mizuho Bank Ltd to secure a term loan facility, on behalf of Biocon Generics, its wholly-owned step-down subsidiary. The corporate guarantee is valid for five years and it will be treated as a contingent liability for the company.

Transformers and Rectifiers: It has been awarded orders worth Rs 232 crores from Power Grid Corporation.

Skipper: The power transmission and distribution company has won an order worth Rs 737 crore from Power Grid Corporation for the supply and construction of a 765 kV transmission line.

GE Power India: The company has received an order from Tata Power worth Rs 6.75 crore for services towards overhaul and other works for turbine generators.

Ashok Leyland: It has acquired a 49.9 per cent stake in TVS Trucks for Rs 25 crore.

Shakti Pumps: The company has received a third work order under the KUSUM-3 scheme, worth Rs 84 crore, from the Haryana Renewable Energy Department for 2,443 pumps.

Indian Oil, ONGC, GAIL, MRPL, HPCL, Oil India: The state-run oil companies have been slapped fines for the third straight quarter, cumulatively for Rs 32.5 lakh, for failing to meet listing norm requirements of having the requisite number of directors on their board.

Punjab & Sind Bank: The Board of the bank will meet on February 28 to consider raising funds up to Rs 2,000 crore.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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