Stocks to watch: Axis Bank, Zee Ent, SpiceJet, RIL, Bharat Forge, Alkem Lab

Equity benchmark indices may open with nominal gains on Friday. As indicated by the SGX Nifty, which was quoting at 17,640 levels, the Nifty index may open around 50 points higher.

Wall Street closed with tepid gains on Thursday. The Dow Jones, Nasdaq Composite and S&P 500 indices ended up to 0.7 per cent higher.

Asia-Pacific markets also moved in tandem this morning. Key indices Nikkei 225, Topix, the S&P 200, Kospi, and Kosdaq gained up to 0.4 per cent.

Meanwhile, here are some stocks to watch out in trade today:

Zee Entertainment: The company has been barred from the futures and options (F&O) segment of the National Stock Exchange (NSE) as a result of the bankruptcy board’s decision to include the media company in the insolvency process.

Besides, its managing director and chief executive officer, Punit Goenka, moved the National Company Law Appellate Tribunal (NCLAT) on Thursday, seeking relief against the order. READ

Adani Transmission: Fitch has affirmed the ‘BBB-’ rating on senior secured notes issued by the restricted group of Adani Transmission and has said its outlook is stable. The credit assessment reflects the project companies’ availability-based revenue under a supportive regulatory framework, with low technical complexity, reflected in high availability levels. It expects operating performance of entities to remain stable. READ

Axis Bank: Private sector lender Axis Bank on Thursday said that the deal to acquire Citibank India’s consumer business and NBFC business of Citicorp is expected to be completed by March 1.

Spicejet: The company will release its December quarter results today.

Olectra Greentech/RIL: The company has developed a hydrogen bus in technical partnership with Reliance Industries.

Bharat Forge: The company said it will house all its defense-related investments under one entity. It will transfer its stake in Aeron Systems to another subsidiary Kalyani Strategic Systems.

Alkem Labs: The US FDA concluded its inspection at Alkem’s manufacturing facility located at Indore and issued an Establishment Inspection Report (EIR) for the unit. It was inspected between July 1, 2022, to July 7, 2022. In response to Form 483 issued by the US FDA containing one observation, it had submitted a detailed corrective and preventive action (CAPA) plan to the regulator within the stipulated timelines.

Sanofi India: The company has reported a 44.8 per cent rise its net profit to Rs 130.9 crore for the December quarter. Its revenue dipped 2.3 per cent to Rs 671.9 crore compared to last year. Operating margin came in at 24.8 per cent versus 18.5 per cent a year ago.

West Coast Paper Mills: The company said that the strike of contract workers was called off and production at the paper and paper board division at Dandeli has re-started.

Rail Vikas Nigam: The company has recieved a letter of award from M. P. Madhya Kshetra Vidyut Vitaran Co. for a project worth Rs 196.77 crore.

Kanoria Chemicals & Industries: The company is setting up a new formaldehyde plant with 300 TPD capacity at the existing manufacturing facility at GIDC, Ankleshwar, Gujarat.

Isgec Heavy Engineering: The company has received an order for supply of Seven Waste Heat Recovery Boilers utilising Waste Gases from DRI Sponge Iron Kiln.

Taylormade Renewables: The company has won a new work order worth Rs 13.06 crore from Dodhia Chem-Tex Pvt Ltd.

OnMobile Global: The company’s Ecuador-based branch has been closed effective December 15, 2022

Knowledge Marine & Engineering Works: Syama Prasad Mookerjee Port, Kolkata, has extended the existing contract of the company’s arm Indian Ports Dredging for an additional period of six months at an estimated cost of Rs. 2.52 crore for the work of “dredging of lock and approach jetty and de-siltation of grooves, cambers of lock gates and dry dock gates at KPD and NSD”.

Tube Investments: It has acquired a 50 per cent stake in X2Fuels and Energy, which is an early-stage start-up engaged in developing thermochemical technologies for the conversion of any solid feedstock into storage liquid and solid fuels.

Vason Engineers: The company has bagged an order worth Rs 95.92 crore from Pune Metropolitan Region Development Authority for construction of residential quarters.