Stocks to watch: Tata Steel, Adani Green, Vedanta, Infosys, United Spirits

Topics Stocks to buy | Markets | Tata Steel

Nifty futures on SGX were trading at 13,984, up nearly 0.02 per cent, indicating a flat start for domestic equity indices on Thursday.

Here are the top stocks that might move your market today:

Tata Steel: In its outlook for 2021, MD & CEO TV Narendran said the company is optimistic about demand for steel in India. The company expects steel demand to grow proportional or higher to the GDP growth in FY22. It also expects global steel prices to remain firm as China is not expected to export large volumes.

Adani Green: Adani Solar Energy Kutchh Two Private Limited, a wholly-owned subsidiary of Adani Green Energy Limited (AGEL) has commissioned a 100 MW solar power project at Khirsara, Gujarat, ahead of the schedule. The project has a power purchase agreement with Gujarat Urja Vikas Nigam Ltd (GUVNL) at Rs 2.44/kWh (unit) for 25 years.

Vedanta: Vedanta promoters cannot sell or create any security on shares they hold in the group as part of the terms attached to the recent $1.4 billion fund raising -- conditions which technically fall within the definition of 'encumbrance' but no pledge on shares has been created, the company said. It also emerged as the highest bidder for the Radhikapur West coal block in Odisha.

United Spirits: CRISIL has reaffirmed its long-term rating of AA+/Positive and short-term rating of A1+ for the total bank loan facilities worth Rs 3,925 crore. Further, the rating agency has reaffirmed AA+/Positive rating for NDCs worth Rs 750 crore and A1+ rating for commercial paper worth Rs 500 crore.

Infosys: Joint venture partner in Saudi Arabia has filed a lawsuit in a California court alleging that Infosys violated US law on corruption, a media report said. SPC alleged that Infosys falsely claimed that it was not making money from certain contracts and requested it to reduce its 8 per cent commission by at least half or waive it off completely, which led to financial losses.

Union Bank: Shareholders of Union Bank of India on Wednesday approved the bank's proposal for raising up to Rs 6,800 crore equity capital to fund business growth.

Chemcon Speciality Chemicals: Plutus Wealth Management LLP bought 10 lakh shares or 2.73% stake in Chemcon Speciality at Rs 428.52 per share.

GMR Infrastructure: Promoter GMR Enterprises sold 6.50 crore shares or 1.08% stake in the company at Rs 27.09 per share. 

STFC: Shriram Transport Finance has approved and allotted senior secured rated, listed redeemable NCD of the face value of Rs 10 lakh each on a private placement basis.

Fortis Healthcare: ICRA has upgraded the long-term rating for the line of credit of Fortis Healthcare's subsidiaries- SRL Limited and SRL Diagnostics Private Limited.

Indian Bank: Indian Bank on Wednesday said it has raised Rs 392 crore through perpetual bonds

YES Bank: YES Bank said its board has approved promotion of Niranjan Banodkar as the Group Chief Financial Officer (CFO) and Anurag Adlakha as the Group Chief Human Resources Officer following the recommendations of the nomination and remuneration panel and the audit committee.

Ansal Properties: The company said that it has agreed to sell its entire 66.24 per cent stake in IT SEZ in Greater Noida to Migsun group.

Fineotex Chemical: Nippon India Mutual Fund has acquired 66.08 lakh shares or 5.96% of the total shareholding in Finotex Chemical. 

RITES: The company on Wednesday declared an interim dividend of Rs 5 per share on face value of Rs 10 each.

Filatex India: The company's proposed installation of captive rooftop solar power generation of 1.0 MW at Dahej and 0.4 MW at Dadra has been successfully completed and commenced commercial operation w.e.f. December 30, 2020. 


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