Stocks To Watch Today: Tata Steel, Axis Bank, Torrent Power, Vodafone Idea and More

Investors are in for an eventful trading day as several stocks make headlines with key updates and developments. The Gift Nifty, an early indicator for the Nifty 50, points towards a positive start for the benchmark domestic indices on Monday, currently trading at 22,501.5, up 0.23% as of 7:16 AM. Here are the top stocks to watch today:

1. Zee Entertainment Limited: Bloomberg Ordered to Remove Report

Zee Entertainment Limited’s stocks may see increased volatility after a Delhi sessions court ordered Bloomberg Television Production Services India to take down a report dated February 21. The report suggested a $241-million accounting issue at the broadcaster, a claim refuted by Zee.

2. Aditya Birla Group: NCLT Approval for NBFC Consolidation

Aditya Birla Group has received approval from the National Company Law Tribunal (NCLT) to consolidate its non-banking finance companies (NBFCs). The move aims to enhance synergies and optimize resource utilization, following the recent approval of the merger of several Birla group companies.

3. Tata Steel: Bullish Outlook Amid Robust Sector Sentiment

Market expert Kunal Shah expresses bullish sentiments on Tata Steel. With robust buying in the Nifty Metal index and positive data from China, Shah sees Tata Steel as a compelling buy, with potential targets of 170-185.

4. Paytm Payments Bank: FIU Imposes Penalty

India’s Financial Intelligence Unit (FIU) has levied a penalty of Rs 5.49 crore on Paytm’s banking arm for violations related to reporting illegal money routed through its accounts, according to a Reuters report.

5. Axis Bank: Proposed Fundraise through Debentures

Axis Bank announces its plan to raise funds by issuing listed, unsecured, redeemable debentures, with a base issue size of Rs. 1000 crore and an option to retain oversubscription of Rs. 3000 crore, aggregating up to Rs. 4000 crore.

Other Stocks in the Spotlight Today:

  1. Torrent Power: Secures a Rs 2,700 crore order from Railway Energy Management for installing about 325 MW of renewable capacity.
  2. Info Edge: Google removes Info Edge’s job search app Naukri and property search app 99acres from the Google Play Store.
  3. Tanla Platforms, Vodafone Idea: Signs a definitive Memorandum of Understanding for deploying ‘Messaging as a platform’ in India.
  4. Larsen & Toubro: Transfers the remaining 25% stake in step-down unit IIML to Allianz Infrastructure Luxembourg.
  5. PFC (Power Financing Corporation): Incorporates Bhuj II Transmission and Angul Sundargarh Transmission for the development of transmission projects.
  6. Nykaa (FSN E-Commerce Ventures): Expands its global footprint with the launch of Nysaa, the first-ever beauty retail store in Dubai.
  7. SJVN (Satluj Jal Vidyut Nigam): Subsidiary SJVN Green Energy Limited bags 200 MW solar power project in Gujarat.
  8. Rishabh Trust, Samhi Hotels, Dreamfolks Services IPO: Lock-in period ends for these IPOs, allowing insiders to sell shares.

Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. It suggests readers consult their financial advisors before making any money-related decisions.

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