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Stocks in Focus: Paytm, Vedanta, IRCTC and Others

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The GIFT Nifty futures were trading in the green before the market’s opening on Monday. Indices are expected to open on a similar positive note.

Domestic benchmark indices NSE Nifty 50 and S&P BSE Sensex closed with a gain on Friday attributed to gains in banking, financial and pharma stocks. Nifty ended at 21,782.50 points, up 64.55 points or 0.3%, while Sensex gained 0.23% or 167.06 points to settle at 71,595.49.

Here are some stocks that are likely to remain in focus on February 12.

Indian Railways Catering and Tourism Corporation (IRCTC): The railways company has incorporated a wholly-owned subsidiary, IRCTC Payments Ltd, to handle its payment aggregator business.

Adani Power: The Adani Group utilities company has clarified that it submitted a resolution plan for acquiring Lanco Amarkantak Power but has yet to receive any communication from the resolution professional.

Easy Trip Planners: The board of the travel agency company has granted in-principal approval for a proposal to open a 5-star hotel in Ayodhya near Shree Ram Mandir, with an investment of up to Rs 100 crore in a joint venture with Jeewani Hospitality Private Limited.

Vedanta: The metals company’s subsidiary, Vedanta Resources, completed repayments to its bondholders on February 7, in line with the consents it had received earlier in the year, in which maturities of $3.2 billion in bonds were successfully extended to 2029.

Dr Reddy’s Laboratories: The pharma company received the Establishment Inspection Report (EIR) for its formulations manufacturing facility in Bachupally, Hyderabad, where the US Food and Drug Administration (USFDA) classified the inspection as Voluntary Action Indicated (VAI).

One 97 Communication (Paytm): The Board of Directors of Paytm’s parent company has formed a Group Advisory Committee, which former SEBI Chairman M Damodaran will head, to help further strengthen compliance and regulatory matters.

Companies announcing their Q3FY24 Results today: 63 Moons Technologies, Anupam Rasayan India, Bharat Forge, BLS E-Services, BLS International Services, Coal India, Edelweiss Financial Services, G R Infraprojects, Hindustan Aeronautics, JM Financial, Mazagon Dock Shipbuilders, NHPC, Samvardhana Motherson International, Steel Authority of India and Zee Media Corporation, among others. 

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