The Indian stock market has been experiencing significant movement, with the BSE Sensex rising by 1,134.48 points (1.55%) and the NSE Nifty gaining 427.8 points (1.93%) last week. However, today, Gift Nifty signaled a slightly negative opening on Monday (March 10), trading at 22,582, down 0.34% at 8:36 AM.
Due to major corporate announcements, several stocks are poised to remain in focus.
Stocks To Watch Today
Sun Pharma
Sun Pharma has announced the acquisition of Checkpoint Therapeutics for $355 million, along with additional milestone payments.
ONGC
The Development Commissioner has granted an exit to ONGC Petro Additions from Dahej Special Economic Zone (SEZ), which could impact its future operations and expansion strategies.
JSW Steel
JSW Steel reported a 12% year-on-year (YoY) increase in crude steel production for February. Additionally, the company’s capacity utilization in India stood at 93.5%.
Biocon
Biocon Biologics received positive results from a Phase-III study of its Yesintek biosimilar.
Lupin
Lupin has launched Rivaroxaban tablets in the US, a drug with an estimated market size of approximately $446 million. This move strengthens Lupin’s presence in the US pharmaceutical market.
IRB Infrastructure Developers
IRB Infra reported an 18% YoY increase in toll revenue for February, indicating strong growth. The company is on track to surpass its FY24 toll revenue in FY25.
GMR Airports
GMR Airports has acquired an additional 10% stake in Delhi International Airport, increasing its total holding to 74%.
Shyam Metalics
Shyam Metalics saw a remarkable 110% YoY increase in stainless steel sales quantity for February, with a 10% rise in realizations.
Nazara Technologies
Nazara Technologies has decided to sell a 95% stake in one of its subsidiaries to an associate for ₹104 crore in compulsorily convertible preference shares (CCPS).
RailTel Corporation of India
RailTel has secured new railway orders worth ₹76 crore, boosting its order book and revenue potential.
JB Chemicals & Pharmaceuticals
The US FDA has issued no observations for JB Chemicals’ formulations manufacturing unit in Gujarat, a positive regulatory development.
Lemon Tree Hotels
Lemon Tree has signed two new hotel licensing agreements in Madhya Pradesh, expanding its hospitality footprint.
Omaxe Ltd
Omaxe has launched a new phase at its ‘World Street’ project in Faridabad, with a project valuation of ₹600 crore.
IndusInd Bank
The Reserve Bank of India (RBI) has approved a one-year extension for the MD & CEO of IndusInd Bank, despite the company’s request for a three-year extension.
IREDA (Indian Renewable Energy Development Agency)
RBI has rejected IREDA’s plan to fund a 900 MW project in Nepal, which may impact its international expansion plans.
United Spirits Ltd (USL)
A commercial court upheld a tribunal’s decision rejecting USL’s claim in a legal case against United Breweries Ltd (UBL).
Gensol Engineering
Gensol’s promoters sold a 2.4% stake in the company, stating that the proceeds will be reinvested into the business.
Shilpa Medicare
The US FDA issued one observation for Shilpa Medicare’s Raichur unit, which may require corrective action.
Alembic Pharmaceuticals
Alembic Pharma’s Vadodara unit received one observation from the US FDA, potentially affecting production at the facility.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
