Top 10 stocks to watch today Adani Ports: Fitch Ratings on Th | ACEink Official

Top 10 stocks to watch today

Adani Ports: Fitch Ratings on Thursday affirmed its 'BBB-' rating on Adani Ports and Special Economic Zone Limited with a stable outlook. The development comes exactly two months after a report by US-based Hindenburg Research triggered a massive rout in Adani Group stocks and bonds. The rating agency said that the controversial report has a limited near-term impact on APSEZ's cost of funding.

InterGlobe Aviation: No-frills airline IndiGo is expecting to fly 100 million passengers and is planning to have 350 aircraft in its fleet in the next fiscal, according to a presentation by the airline at the analysts/investors meet on Thursday. At the same time, the airline is looking to end the current fiscal with around 306 planes in the fleet with the passenger volume estimated at over 85 million.

Vedanta: Vedanta will consider the fifth interim dividend for FY23 fiscal on March 28. A board of directors meeting is scheduled on this day. The company has fixed the record date to determine eligible shareholders. Vedanta has a good track record of paying dividends to its investors. March 28, 2023, to consider and approve the Fifth Interim Dividend on equity shares, if any, for the Financial Year 2022-23.

Adani Power: Adani Power on Thursday said it has sold a 100 per cent stake in Support Properties Private Ltd (SPPL) to AdaniConnex Private Ltd (ACX) at an enterprise value of ₹1,556.5 crore. Parties to the proposed transaction have executed a Share Purchase Agreement and concluded the transaction, a BSE filing stated. The enterprise valuation (of a 100 per cent stake in SPPL) was estimated at ₹1,556.5 crore, subject to adjustments on the closing date.

Patel Engineering: Patel Engineering Ltd has emerged as the successful bidder for Dibang Multipurpose Project worth ₹3,637.12 crore in Arunachal Pradesh, which will be undertaken in a joint venture. The company's share in this order is ₹1,818.56 crore, according to a regulatory filing.

SpiceJet: Low-fare airline SpiceJet is open to selling more shares to reduce its liabilities, chairman and managing director Ajay Singh said. “We are flexible. We will talk to our partners and see what it is they prefer to do. But, irrespective, we need to deleverage our balance sheet to have the space to grow, and that’s what we are trying to do," Singh said in response to a query at the CAPA India Aviation Summit.

Canara Bank: Canara Bank on Thursday said it has sold its stake in Russian joint venture Commercial Indo Bank LLC (CIBL) to the other venture partner State Bank of India (SBI) for about ₹121.29 crore. CIBL, incorporated in 2003, is a joint venture in Russia between SBI (60 per cent) and Canara Bank (40 per cent).

Hindustan Aeronautics: The government’s offer for sale (OFS) of a part of its stake in Hindustan Aeronautics Ltd was subscribed 4.5 times after seeing strong demand from non-retail investors, according to data from the NSE on Thursday. It received bids for 237,600 shares, while 526,000 shares were on offer. The indicative price for the bids was ₹2,468.98, higher than the floor price of ₹2,450 per share. If fully subscribed, the OFS would fetch about ₹2,800 crore to the exchequer.

Bajaj Hindusthan Sugar: Bajaj Hindusthan Sugar Ltd on Thursday said it has acquired a 98 per cent stake in Phenil Sugars by converting existing preference shares worth ₹350 crore into equity shares. The company has converted 3,50,03,927 redeemable non-cumulative convertible preference shares of ₹100 amounting to ₹350.04 crore into equity shares of 35,00,39,270 equity shares of ₹10 each of PSL.