Adani Group, Vedanta, JSW Energy, TII, Jindal Stainless, L&T, Britannia Industries stocks in focus

The SGX Nifty hints at a muted start for domestic equity indices. Adani Group, Vedanta, JSW Energy are some of the stocks to watch on Wednesday.

stocks to watch
Adani Group, Vedanta, JSW Energy, TII, Jindal Stainless, L&T, Britannia Industries stocks in focus on Wednesday.

SGX Nifty hinted that the domestic equity indices could see a flat start. On the Singapore Exchange, Nifty futures were trading higher, up 4 points, at the 16,994.5 level. On Monday, markets gained mildly as Nifty ended marginally lower, still not reclaiming the 17,000 level, while Sensex settled at 57,613, down 40 points. 

“Indian markets continued to stay in the grip of bears as investors remained cautious in expectation of further tightening from the RBI. While global market sentiment has been improving as the fears of broader contagion from the banking turmoil fade. Back home, Nifty small and midcap stocks continued to underperform due to fall in investors’ risk appetite and FY23 tax harvesting,” said Vinod Nair, Head of Research, Geojit Financial Services.

Stocks in focus on 29 March, Wednesday

Adani Group

Adani Group stocks continued their slide on Tuesday, with six stocks hitting their lower circuit of 5% and the flagship Adani Enterprises slumping over 7%. Adani Group refuted a media report raising questions about completion of repayment of $2.15 billion in share-backed debt, saying that it has completed the full prepayment, paying off all share backed facilities availed by the promoters. 


Anil Agarwal-controlled Vedanta has approved its fifth interim dividend of Rs 20.50 per share or a total of Rs 7,621 crore for FY23 as parent Vedanta Resources seeks to shore up funds to trim debt. 

Jindal Stainless

Jindal Stainless (JSL), India’s largest stainless steel manufacturer, has acquired a 49% stake in Indonesia-based nickel pig iron (NPI) company New Yaking Pte for about $157 million. The move is strategic for JSL as it aims to secure long-term access to nickel, a crucial raw material for the stainless steel industry.

Tube Investment of India

Various private equity funds invested Rs 266.67 crore in TICMPL, while State Bank of lndia has invested Rs 133.33 crore in Tl Clean Mobility, a subsidiary of Tube lnvestments of lndia.

JSW Energy

JSW Renewable Technologies, a  subsidiary of JSW Energy, has been allocated Performance Linked Incentive for the quoted manufacturing capacity of 1 GW (Wafer + Cell + Module) under ‘National Programme on High Efficiency Solar PV Modules’ to promote manufacturing of high efficiency solar PV modules in India. JSWRTL is eligible for Rs 320 crores of PLI benefits.


The company issued and allotted 2,00,000 Non-Convertible Debentures (NCDs) of Rs 1 lakh each with a coupon rate of 7.725%, aggregating to Rs 2,000 crore, which will mature on April 28, 2028. 

DCB Bank

The lender was successful in its issue and allotment of 9.35% Basel III Compliant Tier II Bonds of face value of Rs 1,00,00,000 each, on a private placement basis, aggregating to Rs 300 crore.

Britannia Industries

If declared, the company will pay an interim dividend to the shareholders, on Thursday, 13th April, 2023. 

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

First published on: 29-03-2023 at 07:56 IST
Exit mobile version