Stocks to Watch: Adani Group, BHEL, Coal India, SBI Card, Tata Motors – Mint

Adani Enterprises: The Adani Group lost nearly ₹44,898 crore in market value on Monday as shares of group companies plunged following a media report that the National Securities Depository Ltd (NSDL) has frozen accounts of three foreign funds who are major stakeholders. In a statement, the Adani group said the demat accounts of the three foreign portfolio investors (FPIs) were not frozen, calling the report “blatantly erroneous”.

Amara Raja Batteries: The company has announced an ‘Energy and Mobility’ strategy, which entails expansion of the lead acid batteries business and the establishment of a new energy SBU encompassing lithium cell and battery pack, EV chargers, energy storage systems, advanced home energy solutions and related products and services.

BHEL: The company reported a Q4FY21 consolidated net loss of ₹1,036.32 crore, compared to ₹1,532 crore a year ago, it remained loss making at the operating level. Ebitda loss stood at ₹126 crore in the March quarter, largely on account of higher other expenses, which surged 156% year-on-year (y-o-y).

Coal India Ltd: The world’s largest miner has reported a consolidated net profit of ₹4,588.96 crore, a dip of 0.8%, in the quarter ended 31 March 2021. The company had posted a profit of ₹4,655.76 crore in the year-ago period. The company’s board has approved a final dividend of ₹3.50 per equity share of face value of ₹10 each for the financial year 2020-21, CIL said in a regulatory filing.

Pharma stocks: Indian pharmaceutical companies’ sales will grow robustly in the financial year ending March 2022 (FY22) as sales normalise in categories affected by the pandemic in the previous year, said Fitch Ratings. Most Indian pharma companies reported resilient operating performance in FY21, benefitting from gradual stabilisation after Q1FY21, geographical diversification and sales of pandemic-related drugs.

PNB Housing: The Reserve Bank of India and market regulator Sebi will look into various regulatory issues related to the proposed ₹4,000 crore-investment by US-based private equity firm Carlyle and others in PNB Housing Finance, people familiar with the matter said. Concerns of minority shareholders, corporate governance and others regulatory aspects would be looked into by RBI and Securities and Exchange Board of India (Sebi), the people said.

SBI Cards and Payment Services: The company has raised ₹500 crore by issuing bonds. Its board of directors has approved the allotment of 5,000 fixed rate, unsecured, rated, taxable, redeemable and senior non-convertible debentures aggregating to ₹500 crore on a private placement basis, SBI Card said in a regulatory filing.

Tata Motors: The company said that its board has approved a proposal to raise up to ₹500 crore through the issue of securities on a private placement basis. A meeting of the duly authorised committee has approved subscription, on a private placement basis, up to 5,000 rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) of face value ₹10 lakh each, aggregating up to ₹500 crore, the auto major said in a regulatory filing.

Zensar Technologies: Marina Holdco (FPI) Ltd, a company backed by funds advised by Apax Partners, sold 11.41% stake in RPG Group company Zensar Technologies for ₹760 crore through an open market transaction. According to bulk deal data on NSE, Marina Holdco Ltd, sold 25.75 million shares or 11.41% of Zensar Technologies for ₹295.16 apiece aggregating to ₹760.04 crore. As per the latest shareholding pattern, Marina Holdco (FPI) Ltd held 22.83% in the firm.