Watch for TCS, Popular Vehicles, Bharti Airtel, SBI, L&T Finance Holdings, Tata Steel on March 19

Asian Markets down

Equity benchmark indices Sensex and Nifty opened lower on Tuesday (March 19) as Asian markets trade mutedly ahead of central bank decisions from Japan and Australia. At 7:30 am, the Nifty futures were down 76 points at 22,059 over Nifty futures’ last close. Nikkei dipped 0.7 percent as all eyes remain on the BOJ amid bets that the central bank could end its negative interest rate policy after 17 years. Hang Seng and Kospi also fell over 1 per cent each. In the US overnight, stocks rebounded with the Dow adding 0.2 per cent and S&P 500 0.63 per cent. Nasdaq added 0.8 percent. Stocks that may see action today:

1. TCS: Tata Sons is set to divest a 0.65 per cent stake in TCS on Tuesday in the open market, according to a term sheet. It will offload 23.4 million shares at a floor price of Rs 4,001. Separately, TCS is planning to increase salaries by an average of 7-8 per cent for its offsite employees and 2-4 per cent for its onsite staffers in 2024-25. High performers can expect a raise of 12-15 per cent.
2. Popular Vehicles and Services: The stock will make its debut on bourses today against an issue price of Rs 295.
3. Bharti Airtel, SBI, L&T, others: Jefferies has identified 11 stocks set to benefit from long-term macro trends like capital expenditures, government manufacturing initiatives, and financialization. The brokerage expects these equities to more than double by 2029.
4. L&T Finance Holdings: Its board has approved raising up to Rs 1.01 lakh crore via Non-Convertible Debentures (NCDs) in one or more tranches.
5. Tata Steel: Tata Steel UK announced it will cease operations of the coke ovens at the Port Talbot plant in Wales due to a deterioration of operational stability. The company plans to increase coke imports to offset the impact of the coke oven closures.
6. Aditya Birla Sun Life AMC: Its promoters will divest a 11.47 per cent stake (33 million shares) in the company through the offer-for-sale (OFS) route from March 19-20, 2024. The floor price for the OFS has been set at Rs 450 per share, representing a discount of 5 per cent to the current market price.
7. Shipping Corporation of India Land and Assets: The demerged entity of Shipping Corporation will debut on exchanges today under the Trade-to-Trade (T2T) category after receiving final listing and trading approval for its 46 crore shares of Rs 10 each from the BSE and NSE, as per reports.
8. Genesys International: Its consortium with Veritas (India) has received a letter of award (LoA) for a project worth Rs 156 crore from the BMC.
9. HG Infra Engineering: The company, in a joint venture with Stockwell Solar Services, has received a LoA for a project worth Rs 1,026 crore from Jodhpur Vidyut Vitran Nigam.
10. IOL Chemicals: It has successfully completed the Brazilian Health Regulatory Agency’s (ANVISA) GMP audit of all its 10 API units in Punjab with no observation
11. The company has secured an order worth Rs 21 crore from Larsen and Toubro for the production of assemblies and sub-assemblies of heavy structures, including construction gabion walls.