The Indian stock markets, Sensex and Nifty, are expected to open lower on Wednesday, tracking weak global cues and bearish trading at Nifty futures on the Singapore Exchange. Among the individual stocks, shares of Nazara Technologies, Bharat Electronics, UltraTech Cement, HPCL, NTPC, IDFC First Bank, Tata Steel, JSW Steel, Tata Power, TCS, Rana Sugars, Karnataka Bank, L&T, BHEL will be in focus in Wednesday's trading session.
Stocks to watch today: Here is a list of top stocks that are likely to be in focus.
Nazara Technologies: Rakesh Jhunjhunwala-backed Nazara Technologies shares made strong debut at domestic bourses on Tuesday, listing at 81 per cent premium against the issue price on National Stock Exchange. The stock of gaming firm, however, closed 20 per cent lower from its listing prices as investors resorted to profit booking at elevated levels.
Bharat Electronics: Shares of Bharat Electronics Ltd (BEL) will be in focus today as the state-owned company has declared 140 per cent as second interim dividend (Rs 1.40 per share) to its shareholders for the financial year 2020-21. It has paid a total dividend of 280 per cent on its paid up capital for the current financial year.
UltraTech Cement: The cement manufacturer has prepaid its long-term loans amounting to Rs 5,000 crore. The loan repayments have been done through free cash flows that the company has generated over the last few quarters despite the challenging circumstances and severe business interruptions during the first quarter of the current fiscal year.
Hindustan Petroleum Corporation Limited (HPCL): The state-run oil marketing company has said it has completed acquisition of 50 per cent of the paid up equity share capital of HPCL Shapoorji Energy Private Limited (HSEPL) from S P Ports Private Limited for a total consideration of Rs 397.06 crore.
NTPC: NTPC has said that it will shut-down its Talcher Thermal Power Station in Odisha on March 31. It has total installed capacity of 460 MW and is operational from the last 54 years. "We wish to inform that after running for 54 years, operations of Talcher Thermal Power Station, Odisha having a total installed capacity of 460 MW shall be discontinued w.e.f. 31st March, 2021," NTPC said in exchange filing.
IDFC First Bank: Private sector IDFC First Bank on Tuesday said it has fixed the floor price at Rs 60.34 for the Rs 3,000 crore qualified institutional placement (QIP) issue. The Capital Raising Committee of the Board also decided that the bank may at its discretion offer a discount of not more than 5 per cent on the floor price for the issue.
Tata Steel: Brokerage firm CLSA maintained its 'buy' rating for Tata Steel and has set a price target of Rs 950 for the company.
JSW Steel: CLSA has upgraded JSW Steel to 'outperform' and has set a price target of Rs 490 for the company.
Tata Power: Tata Power has received a Letter of Award from Gujarat Urja Vikas Nigam Limited (GUVNL) on March 26 to develop a 60 MW solar project in the state of Gujarat. The energy will be supplied to GUVNL under a Power Purchase Agreement (PPA), valid for a period of 25 years from scheduled commercial operation date. The Company has won this capacity in a bid announced by GUVNL in January 2021.