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Stocks to watch: Shares of firms like Vedanta, Tata Motors, Bajaj Finserv, IndusInd Bank, Religare, and others will be in focus on Tuesday’s trade
Stocks to watch on March 18
Stocks to Watch on March 18: Domestic markets kicked off the week on a positive note, gaining nearly half a percent as the consolidation phase persists. In today’s session, shares of Vedanta, Bajaj Finserv, IndusInd Bank, Bank of Maharashtra, and others will be in focus due to various updates.
Tata Motors
Tata Motors will raise the prices of its commercial vehicles by up to 2% starting April 1, citing rising input costs. The price increase will vary depending on the model.
Vedanta
Vedanta’s Chairman, Anil Agarwal, reaffirmed the company’s commitment to unlocking value. He stated that the four new companies created through the demerger have the potential to grow into $100 billion enterprises each.
Bajaj Finserv
Bajaj Finserv has signed a share purchase agreement (SPA) to acquire a 26% stake from Allianz SE in its insurance subsidiaries, Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC).
IndusInd Bank
Moody’s has affirmed the ratings for IndusInd Bank and placed its baseline credit assessment under review for downgrade.
Religare Enterprises
Religare Enterprises has engaged Trilegal and Grant Thornton Bharat LLP to conduct a governance review, assessing past practices and potential misconduct involving current and former employees.
IREDA
The Indian Renewable Energy Development Authority (IREDA) has increased its borrowing limit by Rs 5,000 crore to Rs 29,200 crore for FY 2024-25. The funds will be raised through corporate bonds, banks, and international investors.
Swiggy
Swiggy Instamart has expanded its quick commerce services to 100 cities, adding 32 new locations, including Raipur, Siliguri, Jodhpur, and Thanjavur, as part of its 2025 expansion plan.
Bank of Maharashtra
The state-owned lender has received an administrative warning from SEBI for failing to hold the required NRC meetings in FY 2022-23 and 2023-24. The bank has committed to taking the necessary steps to address the issue.
IRCON International
IRCON International, in a joint venture with Badri Rai and Company, has secured a Rs 1,096.17 crore EPC contract from the Directorate of Urban Affairs, Government of Meghalaya.
Aditya Birla Real Estate
Aditya Birla Real Estate has launched a new residential project, Birla Punya, in Pune’s Sangamwadi area. The development will include approximately 1,000 apartments across four towers.
JM Financial
JM Financial will transfer its private wealth business to its subsidiary, JM Financial Services Ltd, for Rs 11.08 crore, with the aim of consolidating its wealth management services.
Suryoday Small Finance Bank
Managing Director and CEO Baskar Babu Ramachandran has increased his stake in the bank to 5.18% from 5.04% by purchasing 150,000 shares in the open market. The promoter group’s total holding has risen to 22.44%.
NBCC India
NBCC India has been awarded a Rs 44.62 crore project management consultancy contract for the infrastructure development at the Mahatma Gandhi Institute for Rural Industrialisation in Wardha.
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