GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Thursday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded up by 128.50 points or 0.59% at 22,053 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 ended up by 21.65 points or 0.10% to settle at 21,839.10, while the BSE gained 89.64 points or 0.12% to 72,101.69.

“Lifted by favourable global sentiment and solid direct tax collection, Indian markets rebounded, closing with modest gains. Robust FII & DII inflows sustained the market. As per latest market consensus, the odds of rate cut in June have reduced,” said Vinod Nair, Head of Research, Geojit Financial Services.

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Nair also added that, The US Fed is likely to delay the cut rate to the latter part of the year due to a resilient economy. Domestic mid & small caps are likely to lag large caps driven by premium valuations, in the short-term.

Stocks to Watch on March 21, 2024

Torrent Power 

Torrent Power has finalized a share purchase agreement with Solapur Transmission, acquiring a 100% stake. This strategic move aims to establish a transmission system facilitating the efficient evacuation of power from renewable energy projects in Maharashtra.

TVS Motor

TVS Motor Company has greenlit the issuance of cumulative non-convertible redeemable preference shares, totaling up to Rs 1,900 crore via bonus. Additionally, the company has appointed Vijay Sankar and Shailesh Haribhakt as independent directors, enhancing its governance structure.

Wipro

Wipro, a prominent IT services major, has appointed Anne-Marie (Annie) Rowland as the Chief Executive Officer (CEO) of Capco. Rowland’s extensive experience, including her current role as the managing partner of Capco’s business in the United Kingdom and Ireland, positions her to lead effectively as she assumes the CEO role on April 1, 2024.

Crompton Greaves 

Crompton Greaves has secured its fourth consecutive order from HAREDA, Haryana, under the PM-KUSUM scheme. The order, valued at over ₹9 crore, entails the supply, installation, and commissioning of various solar photovoltaic water pumping systems, further solidifying the company’s position in the renewable energy sector.

Prince Pipes and Fittings

Prince Pipes and Fittings have inked a deal with Klaus Waren Fixtures and NM Shah, acquiring the ‘Aquel’ brand and other assets worth Rs 55 crore. This strategic move is aimed at setting up an in-house manufacturing facility, bolstering the company’s presence in the bathware segment.

Aeroflex Industries 

Aeroflex Industries has completed the first phase of its expansion, increasing its installed capacity to 13.5 million meters per annum. With plans for further expansion, the company is set to reach a capacity of 16.5 million meters with an investment of Rs 39 crore.

Wockhardt

Wockhardt has initiated a Qualified Institutional Placement (QIP) to raise funds, setting the floor price at Rs 544.02 per share. This move is aimed at strengthening the company’s financial position and supporting its future growth endeavors.

Cyient 

Cyient, an IT solutions provider, has announced that its joint venture with HAL, Infotech HAL Ltd, has initiated a corporate insolvency resolution process before the Bengaluru bench of the National Company Law Tribunal (NCLT).

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Rail Vikas Nigam 

Rail Vikas Nigam has emerged as the lowest bidder for a railway project worth Rs 167 crore for Southeastern Railway, further consolidating its position in the railway infrastructure sector.

Jupiter Wagons 

Jupiter Wagons has completed the acquisition of Bonatrans India for Rs 271 crore, marking a significant milestone as the first Indian rolling stock manufacturer with its own wheel plant.

Suzlon 

Suzlon’s board of directors has approved the conversion of 22.86 lakh partly paid-up equity shares into fully paid-up equity shares, signaling confidence in the company’s growth prospects and strengthening its equity structure.

Krystal Integrated Services

Krystal Integrated Services is poised to make its stock market debut on Thursday, offering its shares at an issue price of Rs 715 each. The company’s IPO, valued at Rs 300.13 crore, witnessed strong investor interest, with subscription rates reaching 13.21 times on the final day of offering.