Stocks to watch: Lupin, GAIL, PNB Housing, Shriram Finance, Axita Cotton

Stocks to watch today: Domestic markets are likely to consolidate in Tuesday’s trading session, after two days of consecutive losses. As of 7:45 am, the SGX Nifty stood at 17,208 levels, up 28-odd points.

Globally, the US markets were mixed overnight amid the Silicon Valley Bank fallout. While Dow Jones, and the S&P 500 fell up to 0.2 per cent; NASDAQ Composite rose 0.4 per cent.

Asia-Pacific markets, on the other hand, bled this morning, with Nikkei 225, Topix, Kospi, Kosdaq, and the S&P 200 sliding up to 3.5 per cent.

Meanwhile, back home, here are few stocks likely to see action in Tuesday’s trade:

Embassy Office Parks REIT: The company said that it has committed over Rs 300 crore for green initiatives across its commercial projects. Recently, they commissioned first phase of 20 megawatt (MW) solar rooftop project, which aims to generate 30 million units of solar power. READ MORE

PNB Housing Finance: The company received Sebi’s approval to raise up to Rs 2,500 crore through rights issue of shares. The company intends to utilise the net proceeds from the issue towards augmenting its capital base. READ MORE

Shriram Finance: The company aims to raise up to $2.4 billion to fund its growth in the next financial year starting April. The management said that the company aims to grow its assets under management (AUM) by 15 per cent in fiscal 2024 to around Rs 1.9 trillion-2 trillion. READ MORE

Lupin: The US Food and Drug Administration (USFDA) completed an inspection of Lupin’s Bioresearch Centre in Pune, India, and closed without any observation. Lupin Bioresearch Centre conducts BA/BE, PK/PD, In-vitro BE and biosimilar studies.

GAIL (India): The state-run firm has declared interim dividend for FY23 of 40 per cent on the paid-up equity share capital, which is Rs 4 per share, with a record date of March 21, 2023. Based on current shareholding, dividend of Rs 1,355 crore shall be paid to the government, while shareholders would receive Rs 1,275 crore.

CreditAccess Grameen: The NBFC major crossed Rs 20,000 crore milestone of AUM. The management remained confident to achieve 24-25 per cent AUM growth in FY23, 4-4.2 per cent ROA, and 16-18 per cent ROE. Moreover, they plan to open 34 additional branches by March 31, 2023.

Axita Cotton: The company secured contract from Taraspinning Mills, Bangladesh and Khadiza Sadek Spinning Mills, Bangladesh for Indian Raw Cotton that aggregates to $2.72 million.

Surya Roshni: The company bagged Rs 96.3 crore worth of order for the supply of 3LPE coated steel pipes from HPCL for city gas distribution projects in Rajasthan, Bihar, Jharkhand, and West Bengal.

Dhanlaxmi Fabrics: The management has decided to carry out major structural renovation for its 30 year old factory building, technological advancement, and upgradation for its plant and equipments installed and located at its Dombivali unit, including installing BOD, COD online meter.

Stocks in F&O ban: Only GNFC was banned in the F&O ban period on Tuesday, March 14.