Stocks To Watch: LIC, Tata Power, Titagarh Rail, Others In News

The BSE Sensex jumped 376.26 points or 0.52 percent to close at 72,426.64. The NSE Nifty was up 129.90 points or 0.59 percent at 22,040.70.
Stocks to Watch
Stocks to Watch

Benchmark equity indices settled higher for the fourth consecutive quarter on February 16 backed by buying in banking, IT, auto, and realty shares as well as positive global cues. The BSE Sensex jumped 376.26 points or 0.52 percent to close at 72,426.64. The NSE Nifty was up 129.90 points or 0.59 percent at 22,040.70.

Sensex and Nifty gained over 1 per cent each as Wipro and M&M shares jumped around 11 per cent. The US bond yield increased and CPI numbers were more than the expectation. Most sectoral indices ended the week with gains except Metals, Media, and FMCG.

“Going ahead, the market will react to the major domestic and global economic events, global news, Asian market performance, Investment patterns of FII/DII, movement of the rupee against the dollar, crude oil, inflationary pressures, interest rate, the evolution of government spending ahead of the 2024 general election and steps taken by different governments domestic and globally to tackle their economy,” said Arvinder Singh Nanda, Senior Vice President, of Master Capital Services Ltd.

Here Are The Key Stocks To Watch On 19 February:

Life Insurance Corporation

LIC announced that it received refund orders for Rs 21,740.77 from the Income Tax Department for Assessment Years 2012-13, 2013-14, 2014-15, 2016-17, 2017-18, 2018-19 and 2019-20. “In this regard, the Income-tax Department has released Rs 21,740.77 crore on 15.02.2024. The Corporation is pursuing the balance with the Income Tax Department," said LIC. The remaining amount of Rs 3,700 crore is awaited as a tax refund.

Tata Power

The company has received a letter of intent (LoI) from REC Power Development and Consultancy to acquire the Jalpura Khurja Power Transmission project at an estimated cost of Rs 838 crore. The project special purpose vehicle (SPV) will be developed on a build-own-operate-transfer basis to provide transmission services for 35 years from the scheduled date of commercial operation.

Titagarh Rail

Titagarh Rail has received an order from the Ministry of defence to manufacture and supply 250 specialized wagons. The order worth Rs 170 crore is scheduled to begin 12 months after its signing and is expected to be completed in 36 months.

Bajaj Auto

The company has fixed 29 February as the record date to determine eligible shareholders to participate in share buyback.

Manappuram Finance

The non-banking finance company has filed an addendum to the Rs 1,500 crore initial public offer (IPO) of Asirvad Micro Finance with the Securities and Exchange Board of India (SEBI). The fresh public issue is completely a fresh issue of equity shares with no offer-for-sale (OFS) component.

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