Stocks to watch out for today: Adani Green, Coforge, DLF, IIFL Finance, Tata Motors and more

The domestic equity market closed lower on Wednesday. Sensex ended 906 pts lower at 72,761 and Nifty lost 338 points to close at 21997. Here’s a look at stocks that are likely to remain in action today.

Tata Motors

The commercial and passenger vehicle manufacturer, inked a Memorandum of Understanding (MoU) with Tamil Nadu government to set up a vehicle manufacturing facility in the state. The MoU involves an investment of around Rs 9,000 crore over 5 years and can potentially create up to 5,000 jobs.

IIFL Finance

The company has received board of directors’ nod for raising up to Rs 1,500 crore via the issue of equity shares on a right basis to its existing eligible shareholders and Rs 500 crore through the issue of non-convertible debentures on a private placement basis.

ITC

Marquee Investors, Government of Singapore, and ICICI Prudential Mutual Fund purchased 9,15,45,678 equity shares and 59,26,138 equity shares in the FMCG company, respectively, via open market transactions. They bought shares at an average price of Rs 400.25 per share, valued at Rs 3,901.3 crore.

Gopal Snacks

The shares of Rajkot-based ethnic and western snacks maker will list on the BSE and NSE on March 14. The final IPO issue price was fixed at Rs 401 per share. Its equity shares will be available for trading in the normal market segment (rolling settlement).

Adani Green Energy

The Adani Group firm’s subsidiary Adani Renewable Energy Fifty Nine Limited inked power purchase agreements (PPAs) with Solar Energy Corporation of India (SECI) for supply of 534 MW of solar power projects. With execution of these PPAs, Adani Green Energy now has a total renewable energy project portfolio of 21,778 MWac capacity.

DLF

DLF Home Developers (DHDL), a wholly owned material subsidiary of the real estate firm, has received board of directors’ nod for raising of funds through issuance of non-convertible debentures (NCDs) worth up to Rs 600 crore on a private placement basis, to the eligible investors.

APL Apollo Tubes

US-based Capital Group via its affiliate New World Fund Inc bought 27,89,398 equity shares in the company via open market transactions at an average price of Rs 1,601.1 per share, amounting to Rs 446.61 crore. On the other hand, Principal Global Investors Collective Investment Trust offloaded 15,31,367 equity shares at an average price of Rs 1,600.16 per share, against its shareholding of 28,77,356 equity shares or 1.04 percent stake as of December 2023.

Coforge

The IT firm’s board of directors will meet on March 16 to consider the raising of funds.

Cholamandalam Investment and Finance Company

The company has bought 4.67 acre from DLF IT Offices in Chennai for Rs 735 crore.

Power Mech Projects

The company has incorporated a new wholly owned subsidiary namely PMTS Private Limited. Subsidiary will design & develop technologies, which are required for construction companies and companies in other sectors/ industries including implementation of the ERP & monitoring systems.