Top 10 stocks for today – 12th March 2024

12 Mar 2024 , 08:41 AM

Here are some of the stocks that may see significant price movement today.

InterGlobe Aviation: Promoter Rakesh Gangwal sold 2.25 Crore equity shares (equal to 5.8% of paid-up equity) in the IndiGo operator through open market transactions for ₹6,785.73 Crore. However, foreign investor Morgan Stanley Asia (Singapore) Pte purchased 21 lakh shares of the firm at an average price of ₹3,015.1 Crore, totaling ₹633.17 Crore.

Rail Vikas Nigam: The state-run railway corporation has emerged as the lowest bidder (L1) for signalling and telecommunication work to provide automatic block signalling on the Khapri-Sewagram line of Central Railway’s Nagpur division. The project costs ₹47.36 Crore. RVNL has also been named the lowest bidder by the Maharashtra Metro Rail Corporation for the Pune Metro Rail Project. The business will design and build an elevated viaduct between PCMC and NIGDI (Bhakti Shakti) on the North-South Corridor of the Pune Metro Rail Project-Reach-Extension, for ₹339.23 Crore.

Mahindra and Mahindra: In February, production climbed by 26.07% year on year to 73,380 units, while sales increased by 26.2% to 71,384 units. However, exports plummeted 31.6% to 1,539 units compared to the previous month.

ITC: British American Tobacco Plc, the producer of Lucky Strike cigarettes, plans to sell a portion of its investment in Indian partner ITC Ltd. as early as this week, according to individuals familiar with the issue. London-listed BAT has been in negotiations with Citigroup Inc. and Bank of America Corp. about divesting $2 billion to $3 billion of ITC stock through block transactions. BAT presently has around a 29% interest in ITC.

Tata Technologies: Tata Technologies, Netweb Technologies India, Protean eGov Technologies, and Zaggle Prepaid Ocean Services will be included to the S&P BSE Information Technology index beginning March 18.

Jio Financial Services: The BSE has decided to include Jio Financial Services, Indian Renewable Energy Development Agency, SBFC Finance, India Shelter Finance Corporation, Utkarsh Small Finance Bank, Fedbank Financial Services, Nuvama Wealth Management, Muthoot Microfin, and ESAF Small Finance Bank in its S&P BSE Financial Services index, effective March 18.

Aditya Birla Capital: Aditya Birla Capital’s board of directors has approved the merger of its subsidiary Aditya Birla Finance with itself. The merger will result in a massive, consolidated operational NBFC.

Tata Investment Corporation: Beginning April 1, 2024, the business has named Savitha Narayanan as Chief Technology Officer and reappointed Ankan Mondal as Chief Risk Officer. Furthermore, upon Kersi Bhagat’s retirement, Jenniefer Samuel has been named Head of Internal Audit.

Mankind Pharma: AstraZeneca Pharma India and Mankind Pharma have signed a distribution deal in India for AstraZeneca’s Symbicort brand, which contains budesonide and formoterol fumarate dihydrate (an inhaled corticosteroid (ICS) and long-acting beta-agonist (LABA). AstraZeneca will maintain the intellectual property rights for budesonide and formoterol fumarate dihydrate, as well as the Marketing Authorization Holder (MAH) and import license.

Aurobindo Pharma: During September 11-15, 2023, the World Health Organization’s Prequalification Unit Inspection Team (PQT-INS) performed an inspection at APL Healthcare’s Unit IV, a formulation manufacturing plant in Andhra Pradesh, which is a wholly owned subsidiary of the firm. Following the inspection, the PQT-INS recommended to the Prequalification Assessment Team that the facility be designated as a manufacturing site in the dossier for Dolutegravir, Lamivudine, and Tenofovir Disoproxil Fumarate tablets in 50/300 mg strengths.

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