Last Updated:
Stocks to watch: Shares of firms like Zomato, Paytm, Swiggy, RailTel, Coal India, Airtel, NTPC, and others will be in focus on Monday’s trade
Stocks to watch on February 24
Stocks To Watch On February 24: The markets remained volatile on Friday, losing 0.5% amid mixed cues. Today, shares of Zomato, Jio Financial, Swiggy, Coal India, Airtel, Ami Organics, and others are likely to attract attention due to recent news developments.
Auto Stocks: CLSA, a capital markets and investment group, suggests that even if Tesla launches a $25,000 battery electric vehicle (BEV), Indian auto original equipment manufacturers (OEMs) are not significantly at risk. The least expensive Tesla models, Model 3 and Model Y, are priced around $35,000 in the US, meaning they would either need reduced features or face losses to be viable in India.
Nifty 50 Rebalancing: The rebalancing of the Nifty 50 and Nifty Next 50 indices is expected to trigger a churn of over Rs 22,000 crore. Britannia and Bharat Petroleum have been removed from the Nifty 50, while Jio Financial Services (Rs 3,128 crore inflow) and Zomato (Rs 6,525 crore inflow) have been added. Indian Hotels Company, CG Power, Hyundai Motor India, Bajaj Housing Finance, and Swiggy are now part of Nifty Next 50, while NHPC, IRCTC, Adani Total Gas, Union Bank of India, and Bharat Heavy Electricals are removed.
Manappuram Finance: Bain Capital is set to acquire a significant portion of the promoter’s stake in Manappuram Finance, India’s second-largest gold loan company.
NTPC: NTPC and EDF India are planning to jointly develop pumped hydro storage and hydro projects, bundled with renewable energy, while exploring opportunities in distribution. They will form a 50:50 joint venture for this purpose.
Paint Companies: Analysts remain cautious on paint stocks due to growing competition and weak demand. While early signs of a demand revival are emerging in Q4FY25, weak pricing and demand still affect the sector’s performance.
Healthcare Global Enterprises: KKR will acquire up to a 54% stake in Healthcare Global Enterprises (HCG) for $400 million. An open offer will follow to acquire an additional 26% of HCG shares.
One 97 Communications: Paytm Payments Bank is reactivating its digital wallets after losing 72.25% of its prepaid payment instrument (PPI) wallets due to restrictions from the Reserve Bank of India (RBI).
Schneider Electric: Schneider plans to open three more manufacturing plants in Kolkata, Hyderabad, and Ahmednagar. The company aims to leverage AI and digitization to grow in India’s energy sector, focusing on digital grids, IoT-enabled energy resources, and smart cities.
Bank Stocks: City Union Bank, Karnataka Bank, Bandhan Bank, South Indian Bank, DCB Bank, and Punjab & Sind Bank reported net NPAs of at least 1%. In contrast, Axis Bank, HDFC Bank, ICICI Bank, IDBI Bank, Karur Vysya Bank, Kotak Mahindra Bank, and others had net NPAs below 0.5%. In the December 2024-25 quarter, more banks reported lower gross and net NPAs. However, in absolute terms, private banks’ gross NPAs increased marginally from Rs 1.35 trillion in September 2024 to Rs 1.39 trillion in December, while net NPAs rose to Rs 36,260 crore in December from Rs 34,843 crore in September.
Bank of Maharashtra: The Bank of Maharashtra has reduced its retail loan interest rates, including for home and car loans, by 25 basis points following the RBI’s repo rate cut.
Jagsonpal Pharmaceuticals: The US FDA has issued a warning to Jagsonpal Pharmaceuticals over significant manufacturing lapses at its Rajasthan-based API plant.
Axis Bank: SEBI has imposed a Rs 10 lakh penalty on Axis Securities for regulatory breaches, including discrepancies in reporting and handling client funds.
RailTel Corporation: RailTel has won the Kavach tender for 71 stations, enhancing railway safety and operational efficiency with a Rs 288 crore signaling project.
CEAT: CEAT Specialty is expanding its global presence in the OHT market, targeting a 70-30 export-domestic revenue split and increasing production capacity.
Trident: Trident Group plans a Rs 1,000 crore greenfield expansion for FY26, focusing on sustainability and modernization.
Signature Global: Signature Global anticipates a 2.5 times increase in operational revenue to over Rs 3,000 crore this fiscal year, driven by strong sales and project completions.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
