Several stocks are in focus due to major corporate developments such as leadership changes, and expansion plans. Whether it is acquisitions, fundraising, or key partnerships, these stocks are poised to draw significant attention. Here’s a look at the ones to watch today.
Market recap
The stock market extended its losing streak for the third straight session on Wednesday, with benchmark indices closing in the red. The Sensex dropped 203.22 points or 0.27% to settle at 75,735.96, while the Nifty slipped 19.75 points or 0.86% to end at 22,913.15.
Stocks to watch on February 21, 2025
Tata Steel
Tata Steel has acquired 191 crore equity shares of T Steel Holdings Pte for approximately $300 million (Rs 2,603.16 crore). This acquisition ensures that T Steel remains a wholly owned subsidiary.
Kotak Mahindra Bank
Kotak Mahindra Bank has made leadership changes in its Consumer Banking division. Vyomesh Kapasi has been appointed as the new Head of Products, while Shahrukh Todiwala has taken over as Managing Director and CEO of Kotak Mahindra Prime Limited (KMPL).
RVNL
Rail Vikas Nigam Limited (RVNL), along with HFCL and Aerial Telecom Solutions, has partnered with BSNL to enhance broadband connectivity in India. Under the Project Implementation Agency (PIA) agreement, the consortium will develop, upgrade, and maintain the middle-mile network for BharatNet.
HG Infra Engineering
HG Infra Engineering has completed the sale of its entire stake in Rewari Bypass to Highways Infrastructure Trust. The Rs 133.03 crore deal was originally announced in May 2023 and finalised on February 20, following approval at the company’s AGM in August 2024.
JM Financial
JM Financial has received a tax order confirming a refund of Rs 230 crore, including interest, for the assessment year 2008-09. The order, issued by the Deputy Commissioner of Income Tax on February 19, comes under Section 254 read with Section 143(3) of the Income-tax Act, 1961.
Bharat Electronics
Bharat Electronics has signed a contract with the Ministry of Defence for supplying Software Defined Radios (SDR) and Data Communication Terminals (DCT) to the Indian Coast Guard. The order, valued at Rs 1,034 crore (excluding taxes), the company said in an regulatory filing.
In the previous trading session, Bharat Electronics share price rose by 2.66%, closing at Rs 260.15.
Mahindra & Mahindra Financial Services
The Board of Directors of Mahindra & Mahindra Financial Services Limited (MMFSL) has approved a fundraising plan of up to Rs 3,000 crore through a Rights Issue of Equity Shares. In a separate decision, Mahindra Lifespace Developers Limited (MLDL) will also raise up to Rs 1,500 crore through a Rights Issue.
Mahindra & Mahindra’s share price climbed 0.79% in the last trading session, settling at Rs 280.50.
Religare Enterprises
The Burman Group has officially taken control of Religare Enterprises and has been designated as its promoter.
ITI
ITI has received an initial Rs 100 crore payment from C-DoT for land at Electronic City, Bangalore. As part of the agreement, the company will transfer 22.258 acres to C-DoT for Rs 200 crore, following an order from AMRCD.
NTPC Green Energy
NTPC Green Energy, the renewable energy subsidiary of NTPC, has signed an MoU with Bharat Light and Power. The move aims to accelerate green energy initiatives, particularly focusing on infrastructure for green hydrogen. In addition to this, both companies will explore opportunities for third-party off-take of green hydrogen and its derivatives.
Share price of NTPC Green Energy gained 1.41% in the previous trading session, closing at Rs 106.10.