Stocks to Watch: Welspun, Reliance Power, Mahindra Logistics, HDFC

The share sales sailed through despite choppy stock markets this week. The BSE Sensex is down 3% since Monday. (Mint) — The share sales sailed through despite choppy stock markets this week. The BSE Sensex is down 3% since Monday. **(Mint)**

2 min read . Updated: 04 Mar 2021, 08:06 AM IST Ishaan Mital

Mahindra Logistics Ltd signed a five-year, ₹1,000 crore agreement with Bajaj Electricals Ltd for logistics optimisation and outsourcing arrangement.

NEW DELHI: Here's a list of top 10 stocks that could be in focus on Thursday:

Welspun India: The company's board of directors on 3 March approved raising of borrowing of upto a maximum of $100 million (approximately ₹750 crore) through multiple modes including ESG bonds, nonconvertible debentures (NCDs), among others. The issuances may be made in multiple tranches in domestic as well as foreign markets. The company will now seek requisite approvals from shareholders for the fundraise.

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Reliance Power Ltd: The company revealed the quantum of its outstanding debt to Axis Bank, Yes Bank and Lakshmi Vilas Bank in a regulatory filing. The total outstanding debt amounted to ₹ 1.350 crore, the company said.

Adani Ports and SEZ: India’s largest private port operator Adani Ports and Special Economic Zones (APSEZ) Ltd 000000000000000has announced that it is acquiring the 31.5% in Gangavaram Port Ltd (GPL), near Visakhapatnam, currently held by private equity investor Warburg Pincus. The acquisition is valued at ₹1,954 crore and subject to regulatory approvals. Adani intends to follow this up by the remaining shares in the port from the promoter family soon.

Mahindra Logistics: Bajaj Electricals Ltd (BEL) and Mahindra Logistics Ltd (MLL) on Wednesday signed a five-year, ₹1,000 crore agreement for logistics optimisation and outsourcing arrangement. The deal is an end-to-end redesign and outsourcing of BEL's entire logistics by MLL. It will help them to achieve enhanced service levels coupled with a logistics cost saving in excess of 25%.

Ircon International: Ircon International Ltd today said that it has been awarded the work for replacement of mechanical signaling at various locations at Moradabad at the expected completion cost of ₹187 .80 crore.

Reliance Communications: The National Company Law Tribunal (NCLT) has upheld the petition of Doha Bank seeking priority payment for the financial creditors of Reliance Communications unit Reliance Infratel which will lead to around ₹3,515 crore recovery for the lenders, according to a source aware of the development. The payment has to be made from a payment of about ₹4,400 crore realised from sale of assets to a Reliance Industries Ltd ( RIL) subsidiary through NCLT-driven debt resolution process.

HDFC Ltd: Mortgage lender HDFC Ltd on Wednesday said it will raise up to ₹5,000 crore by issuing non convertible debentures (NCDs) on a private placement basis. The issue will open on March 5, 2021 and close the same day, HDFC said in a regulatory filing. HDFC also cut interest rates on home loans by 5 basis points to 6.75%, effect 4 March, 2021. The change will benefit all existing HDFC retail home loan customers.