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Assembly Election Results 2022: Bharti Airtel, NTPC, Biocon, and Other Stocks to Watch Today

By: Aparna Deb

Last Updated: March 10, 2022, 09:26 IST

=Know what stocks to invest in

=Know what stocks to invest in

Investors are awaiting the results of assembly elections held in five states on 10 March. Here is a list of stocks to watch out for in trade today

Investors are awaiting the results of assembly elections held in five states on 10 March. The exit poll results have predicted a Bharatiya Janata Party (BJP) sweep in Uttar Pradesh and a big win for the Aam Aadmi Party (AAP) in Punjab. The exit polls have also given the BJP a clear majority in Manipur, a lead in Uttarakhand while predicting a tight finish in Goa with the Congress.

Also Read: LIVE | Uttar Pradesh Election Results 2022: Term 2 for CM Yogi? Counting of Votes Begins with Leaders at Temples, Tight Vigil in Key Areas

Ahead of today’s assembly election results, yesterday, the stock markets advanced over 2 per cent. Against this backdrop, the BSE Sensex index leaped 1,223 points, or 2.3 per cent, to settle at 54,647 today. On the NSE, the Nifty50 closed at 16,345 levels, up 332 points or 2 per cent. The benchmarks had hit intra-day highs of 54,894 and 16,418, respectively.

Also Read: Punjab Election Results 2022 LIVE Updates: AAP Closing in on Majority as Congress and Akali Dal Fight for No 2

Here is a List of Stocks to Watch Out for in Trade Today:

PNB Housing Finance

The housing finance company has approved fundraising of up to Rs 2,500 crore through a rights issue.

Biocon

CRISIL has placed its ‘AA+’ rating on the long-term bank facilities of the company on ‘Watch with Developing Implications’, after the acquisition of biosimilar assets of US-based Viatris Inc by its subsidiary Biocon Biologics for $3.33 billion. The rating on the short-term bank facilities has been reaffirmed at ‘A1+’.

Gufic Biosciences

The company entered the cancer immunology segment by undertaking research collaboration with Australia-based biotechnology company Selvax Pty Ltd.

NTPC

The state-owned power generation company said 660 MW unit-3 of its subsidiary Nabinagar Power Generating Company has successfully completed trial operation. And consequently the same has been included in the installed capacity of NTPC Group. With this, the total installed capacity of Nabinagar Power Generating Company and NTPC group has become 1,980 MW and 68,567.18 MW, respectively.

Arvind

The company said its operations have fully resumed at the Ankur unit. Operations at the Ankur unit had been disrupted due to disconnection of the effluent discharge connection. As a result, its revenue and EBIDTA have been reduced by approximately Rs 40 crore and Rs 10 crore respectively. The unit had contributed 5 per cent of the consolidated revenue and 6 percent of the consolidated EBIDTA of the company for FY21.

Bharti Airtel

The telecom operator has entered into an agreement to acquire a 9 per cent equity stake in Avaada CleanTN Project Private Limited, a special purpose vehicle. This SPV is formed for owning and operating the captive power plant.

Stocks in Focus Due to Assembly Election Results 2022

Roop Bhootra – CEO, Investment Services, Anand Rathi Shares and Stock Brokers, suggests that sectoral play would be more reasonable than stocks as many companies have a presence across states. One could look at sectors which are more domestic-oriented like Infra., Agriculture, Capital Goods, Construction, etc.

Mirroring similar thoughts, Nishit Master, Portfolio Manager, Axis Securities, said: “Instead of specific stocks, one needs to look at sectors where government policies have a meaningful impact on business. Thus, construction companies, OMCs (ability to pass on high crude price impact on consumers), and Sin Goods companies like Alcobeverage manufacturers and Cigarette manufacturers would be under focus on assembly election results day."

Read all minute-by-minute news updates for Uttar Pradesh election results 2022, Punjab election results 2022, Uttarakhand election results 2022, Manipur election results 2022, and Goa election results 2022.

Click here for seat-wise LIVE result updates.

first published:March 10, 2022, 06:30 IST
last updated:March 10, 2022, 09:26 IST
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