Top 10 stocks for today – 14th March 2024

14 Mar 2024 , 08:43 AM

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

Tata Motors: The commercial and passenger car maker has inked a Memorandum of Understanding (MOU) with the Tamil Nadu government to establish a vehicle manufacturing plant in the state. The MoU envisages a five-year investment of roughly ₹9,000 Crore, with the potential to create up to 5,000 employment.

ITC: Marquee Investors, the Government of Singapore, and the ICICI Prudential Mutual Fund purchased 9,15,45,678 and 59,26,138 equity shares in the FMCG firm, respectively, through open market transactions. They purchased shares at an average price of ₹400.25 per share, totaling ₹3,901.3 Crore. British American Tobacco, through its subsidiary Tobacco Manufacturers (India), sold 43,68,51,457 equity shares in the firm for the same amount, totaling ₹17,484.98 Crore.

L&T Finance Holdings: The NBFC has released a clarification statement about press reports saying that L&T Finance has quit the market due to a decision made by the Reserve Bank of India. The business claims it will continue to offer a variety of financial goods and services under the brand name L&T Finance, and that the RBI circular has been distorted by several media outlets. In December 2023, it successfully merged its subsidiaries, L&T Finance, L&T Infra Credit, and L&T Mutual Fund Trustee, with itself.

IIFL Finance: The board of directors has approved the company’s fund raising of up to ₹1,500 Crore through the right issue of equity shares to its existing eligible shareholders and ₹500 Crore through the private placement of non-convertible debentures.

Power Mech Projects: The company has established a new wholly-owned subsidiary, PMTS Private Limited. The subsidiary will design and develop technologies required by construction enterprises and other sectors/industries, such as the adoption of ERP and monitoring systems.

APL Apollo Tubes: Capital Group of the United States, through its affiliate New World Fund Inc, bought 27,89,398 equity shares in the firm through open market transactions at an average price of ₹1,601.1 per share, totaling ₹446.61 Crore. However, Principal Global Investors Collective Investment Trust sold 15,31,367 equity shares at an average price of Rs 1,600.16 per share, compared to its holdings of 28,77,356 equity shares, or 1.04%, as of December 2023.

Adani Green Energy: Adani Renewable Energy Fifty Nine Limited has signed power purchase agreements (PPAs) with Solar Energy Corporation of India (SECI) to deliver 534 MW of solar power projects. With the signing of these PPAs, Adani Green Energy currently has a total renewable energy project portfolio of 21,778 MWac capacity.

DLF: DLF Home Developers (DHDL), a wholly-owned material subsidiary, has acquired board permission to raise funds through the issue of non-convertible debentures (NCDs) worth up to Rs 600 crore on a private placement basis to suitable investors.

Zydus Lifesciences: Zydus has released Olaparib, a PARP inhibitor, in India under the brand name IBYRA. The medicine will target particular genetic alterations seen in certain forms of cancer, paving the path for a more personalised and successful treatment strategy.

Federal Bank: The private-sector lender has ceased issuing new co-branded credit cards. The bank is now correcting the deficiencies and will seek regulatory permission before resuming new issuance. The bank will continue to provide credit cards to new and existing clients in the non-co-branded category, as well as service existing customers who already have co-branded credit cards issued by the bank.

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