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Stock in news: Adani Ports, Muthoot Finance, BEML, Just Dial, Ircon, Tata Chemicals and others

Shares of Adani Ports, Muthoot Finance, BEML, Just Dial, Ircon, Tata Chemicals others will be in focus in Monday's trading session

twitter-logoBusinessToday.In | March 8, 2021 | Updated 09:15 IST
Stock in news: Adani Ports, Muthoot Finance, BEML, Just Dial, Ircon, Tata Chemicals and others
Stocks to watch today: Adani Ports, Muthoot Finance, BEML, Just Dial, Ircon, Tata Chemicals

Indian benchmark indices, Sensex and Nifty, are likely to start week on positive note, tracking firm cues from global peers and positive trading at Nifty futures on the Singapore Exchange. Asian stocks were trading higher on $1.9 trillion stimulus bill passed by the US Senate as well as strong macro data which indicates recovery in global economic outlook.

Also read: Share Market Live Updates: Sensex, Nifty seen opening higher; Adani Ports, BEML, Just Dial shares in focus

Stocks to watch today: Here is a list of top stocks that are likely to be in focus in Monday's trading session.

Adani Ports: Shares of Adani Ports and Special Economic Zone Ltd (APSEZ) will in focus today after Windy Lakeside Investment Ltd, an affiliate of private equity firm Warburg Pincus, has announced to invest Rs 800 crore to acquire 0.49 per cent stake in India's largest private port operator. Adani Ports will allot about 10 million equity shares of face value of Rs 2 per share to the investment company at a price of Rs 800 each.

Muthoot Finance: Shares of Muthoot Finance will in focus today after MG George Muthoot, the chairman of the largest gold loan NBFC in the country, passed away on March 6. According to Delhi Police, "Muthoot Group Chairman MG George Muthoot fell from 4th floor of a building in East of Kailash, Delhi yesterday. He was rushed to Fortis Escort Hospital & was declared dead during treatment. Today, his postmortem was conducted. No foul play is suspected, the police said.

Just Dial Ltd: Just Dial, that provides local search for different services in India, has entered into an agreement with broadcaster Star India for advertising as co-presenting sponsor during Indian Premier League (IPL) 14. The mega T-20 cricket tournament is scheduled to start in April 2021.

BEML Ltd: Companies such as Tata Motors, Mahindra, Ashok Leyland, Bharat Forge Ltd and Megha Engineering are likely to submit expressions of interest for the government's stake in BEML. The government has invited expressions of interest to offload 26 per cent out of its 54.03 per cent stake in the state-run defence and construction equipment manufacturer. The stake sale will also lead to transfer of management control to the successful bidder.

Ircon International: The Offer for sale (OFS) of railway PSU was oversubscribed by institutional investors as well as retail investors. The government has sold 7,52,41,260 shares or a 16 per cent stake in the company.The floor price for the OFS was Rs 88 per share.

Tata Chemicals Ltd: Shares of Tata Group company will be in focus as ICICI Prudential Mutual Funds have lowered their stake in the company by more than 2 per cent.

IIFL Securities: Shares of IIFL Securities will be in focus as the board of directors of the company is scheduled to meet on March 10 to consider and approve the declaration of interim dividend, if any. The record date for payment of interim dividend, if declared, will be 18 March, IIFL Securities said in a filing to the BSE.

GRM Overseas Ltd: The company, engaged in the production purchase export and sale of rice and paddy in India, has said that its board will meet on March 10 to discuss the declaration of interim dividend for FY21. The board will also discuss the adoption of dividend distribution policy, as well as amendment in the memorandum and article of association of the company, subject to approval of shareholders, GRM Overseas said in a regulatory filing.

Life Insurance Corporation of India Ltd: The government has proposed to hike the authorised capital of LIC India to Rs 25,000 crore for its listing on bourses. Currently, the paid-up capital of the life insurance company is Rs 100 crore.

Kirloskar Industries Ltd: The stock of electric power generation company will see some movement as its promoter trimmed its stake in Kirloskar Industries. Atul Kirloskar has sold 3,51,738 shares or 3.52 per cent of his stake in the company, bringing down his shareholding to  12,83,562 shares or 13.22 per cent.

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