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Stocks to Watch: Adani Group, Alembic Pharma, BEL, Mahindra Finance, Pidilite and more

Stocks to Watch: Adani Group, Alembic Pharma, BEL, Mahindra Finance, Pidilite and more
3 Min(s) Read

By Jomy Jos Pullokaran  Mar 3, 2023 6:06:59 AM IST (Published)


From Adani Group's deals to Alembic Pharma's impairments, here are the top stocks to watch out for in today's session.

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Adani Group | The Adani Group promoter on Thursday said GQG Partners, a leading US-based global equity investment boutique, has completed Rs 15,446 crore ($1.87 billion) investment in a portfolio of Adani companies. The promoter entity S.B. Adani Family Trust offloaded stocks in group companies via multiple block deals on BSE and NSE. The investments were made in Adani Ports and Special Economic Zone Ltd, Adani Green Energy Ltd, Adani Transmission Ltd and Adani Enterprises Ltd.

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Alembic Pharma | Company to take impairment charge of Rs 1,150.43 crore on three manufacturing plants that are under construction in Gujarat. The company said that the new plants are likely to generate less cash than expected and their profitability is hit by price erosion in the US, coupled with high interest rates. Profitability is also hit by USFDA approval delays. Part of the impairment charge will be taken in the current financial year through general reserves. Remaining charges will be taken when the plants come on stream.

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HDFC Bank | Successfully completed the issuance of $750 million 5.686 percent senior unsecured US Dollar bonds under the $3 billion medium-term note program to overseas investors. These notes will be listed on the India International Exchange and NSE IFSC Ltd.

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Hindustan Petroleum Corporation | State-owned oil marketing company on Thursday said it has raised Rs 1,650 crore on a private placement basis for funding of refinancing of existing borrowings and funding of capital expenditure.

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Tata Power | Power generation company on Thursday said that it has entered into a partnership with an Italian green energy company, Enel Group, for implementing 2 key pilot projects through Tata Power’s Delhi-based distribution business. Both organisations share the mutual goal of driving energy security for efficient and sustainable operations, and this pact will help speed up private sector participation in the digital transformation of power distribution grids in India, the organizations said in a joint statement.

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Mahindra & Mahindra Finance | The company on Thursday said its total disbursement for February 2023 has grown by 53 percent on a YoY basis to Rs 4,185 crore. The NBFC's loan book also grew of 1.5 percent on an Month-on-Month basis, it said. The financial services company, however, saw a minor decline in its collection efficiency (CE), which came in at 97 percent for February as compared to 98 percent in the same month last year.

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Pidilite Industries | Adhesive manufacturing company on Thursday said it will be manufacturing Germany-based Jowat's range of hot melts in India. The product will be manufactured in Pidilite’s state-of-the-art manufacturing facility in Vapi, Gujarat. The adhesive will be made under the brand name of Fevicol Jowat.

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