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Stocks to Watch Today: Shipping Corporation of India, Britannia, MMTC, and Others

Stocks to watch in Friday's Trade

Stocks to watch in Friday's Trade

Stocks to watch today: Shares of firms like Shipping Corporation of India, Britannia, MMTC, and others will be in focus in Friday's trade

Nifty futures on the Singapore Exchange-traded 77.5 points, or 0.47 per cent, lower at 16,492.50, signaling that Dalal Street was headed for a negative start on Friday, March 11. The market extended uptrend for a third consecutive session with the benchmark indices reporting 1.5 per cent gains on March 10, driven by a decline in commodity prices, positive global cues, and the victory of the Bharatiya Janata Party in four out of five state elections. The BSE Sensex jumped 817 points to 55,464, while the Nifty climbed 249 points to 16,595.

MMTC

The company has executed the Share Purchase Agreement and Escrow Agreement for the sale of its entire equity holding in Neelachal Ispat Nigam (NINL) to Tata Steel Long Products (TSLP). TSLP has been selected as a successful bidder through the two-stage auction procedure, run under the aegis of DIPAM, GOI.
Futures Consumer
Future Consumer said it has agreed with Fonterra Co-operative Group to wind down 50:50 joint venture – Fonterra Future Dairy. The joint venture was established in 2018.
Supreme Petrochem
The board has approved Phase II expansion of its expandable polystyrene (EPS) plant at Nagothane, Maharashtra by 30,000 MTA. Board also approved setting of the second line of extruded polystyrene board (XPS), and increasing the Masterbatch and Compounds capacity. The capital cost for these capital expenditure schemes will be met from the company’s internal accruals.
Kirloskar Ferrous Industries, and ISMT
The board has allotted 15.4 crore equity shares of ISMT at a price of Rs 30.95 per share, to Kirloskar Ferrous Industries for Rs 476.63 crore. With this, Kirloskar Ferrous Industries has acquired a controlling interest and holds a 51.25 percent stake in ISMT. Kirloskar Ferrous Industries has been classified as the promoter with sole control of ISMT.
Aavas Financiers
UK’s development finance institution CDC Group invested Rs 360 crore in a Social Bond program by the company. The investment will be made in the form of rupee-denominated bonds (Masala Bonds) and will be listed as a social bond, in alignment with the International Capital Market Association’s Social Bond Principles. The proceeds of the bonds will be used to finance the women-owned property loan portfolio, with an aim to address gender inequity in asset ownership, in India.
Shipping Corporation of India
Life Insurance Corporation of India sold a 2 per cent equity stake in the company via open market transactions. With this, LIC’s shareholding in the company stands at 6.03 per cent, down from 8.04 per cent earlier.
Britannia Industries
Life Insurance Corporation acquired a 1.2 lakh share in the company via open market transactions on March 9. With this, its shareholding stands at 5.02 per cent, up from 4.97 per cent earlier.
Oil stocks
Crude prices are likely to rise after the US inflation surged in February. Stocks of Reliance, ONGC, IGL, Indian Oil, among others may see a lot of activity.

Metal stocks

With the global commodity prices remaining elevated, the metal index could see a lot interest from investors.

IT stocks

Weak rupee has helped IT stocks such as Infosys, HCL Tech, Wipro. The trend is likely to continue today

Auto stocks

With the prices of key metals going up, interest in auto stocks rising.
FMCG firms
HUL, Nestle India did well on Thursday and the trend is likely to continue on Friday.

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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first published:March 11, 2022, 07:47 IST