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Top 10 stocks for today – 4th March 2024

20 Mar 2024 , 11:58 PM

One 97 Communications: The Financial Intelligence Unit-India has fined Paytm Payments Bank ₹5.49 Crore for breaching money laundering regulations. The penalty announcement came only hours after the board of parent company Paytm approved the termination of many inter-company agreements with Paytm Payments Bank.

Maruti Suzuki India: In February 2024, overall output climbed by 11.5% to 1,78,261 units, up from 1,59,873 units the previous year.

Infosys: PROG Holdings, Inc. and Infosys have established a partnership that will expand and scale PROG Holdings' IT operations as part of the company's continuing cloud- and AI-focused technology modernization and innovation efforts. The agreement will allow PROG Holdings to take use of Infosys' digital offerings.

Hero MotoCorp: In February 2024, the world's largest maker of motorcycles and scooters sold 4,68,410 units, up 19% from the previous month's sales of 3,94,460. Domestic sales jumped 16.5% year-on-year to 4,45,257 units, while exports increased by 90.66% to 23,153 units in February.

Aurobindo Pharma: The pharmaceutical business has acquired final permission from the US Food and Drug Administration (USFDA) to produce and market Fingolimod capsules, 0.5 mg, which are bioequivalent and therapeutically equivalent to Novartis Pharmaceuticals Corporation's reference listed drug (RLD) Gilenya Capsules. The drug will be introduced in March 2024. Fingolimod capsules are used to treat people with relapsing types of multiple sclerosis.

Asian Paints: The paint manufacturing business has got a letter allocating 166 acres of land in Pithampur, Madhya Pradesh, to establish a paint production facility. In January 2023, it announced plans to build a new water-based paint production facility in Madhya Pradesh with a capacity of 4 lakh KL per year at a cost of ₹2,000 Crore.

Lemon Tree Hotels: The hotel group has inked a franchise deal for a new hotel in Udaipur, Rajasthan, under its 'Keys Lite' brand. This will be Lemon Tree Hotels' third property in the city, in addition to one that is currently open. This hotel is anticipated to be open in fiscal year 25.

Indian Railway Catering and Tourism Corporation: IRCTC has inked a Memorandum of Understanding (MoU) with the CRPF to provide on-board food services to all CAPF (CRPF, ITBP, BSF, CISF, and SSB) troops when on the move for different law and order activities, including bye-elections. The MOU would include the delivery and servicing of breakfast, lunch, and supper, as well as packaged drinking water.

JSW Steel: JSW Steel Italy SRL, the company's step-down subsidiary, has signed a Memorandum of Understanding (MOU) with the Ministry of Industry and Made in Italy, the Tuscany Region, and the Municipality of Piombino to restart and relaunch the steelworks site in Piombino.

Torrent Power: The Gujarat-based power business has obtained a letter of award from Railway Energy Management business (REMCL) to establish grid-connected renewable power projects, with or without storage, capable of supplying 100 MW of continuous electricity. The project's cost is ₹2,700 Crore. It has also got a letter of award from NTPC Vidyut Vyapar Nigam (NVVN) for the delivery of power from its gas-based power plant during the upcoming summer's crunch and high power demand times, which span from March 16, 2024 to June 30, 2024.

For feedback and suggestions, write to us at editorial@iifl.com

 

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