Stocks to Watch: HAL, L&T, Allcargo Logistics, Zee Ent, Power Grid, NBCC

Equity benchmark indices may open with losses on Wednesday. As indicated by the SGX Nifty, which was quoting at 17,722 levels, the Nifty index may open around 100 points lower.

Globally, Wall Street underperformed overnight after the US Fed Chief said he anticipates higher rates to be higher than previously predicted. Dow Jones, the S&P 500, and NASDAQ Composite declined up to 1.7 per cent.

Asia-Pacific markets, meanwhile, were mixed this morning. While Kospi, the S&P 200, Hang Seng, Shanghai Composite indices dropped up to 1 per cent; Nikkei 225, Topix, and Kosdaq indices added up to 0.2 per cent.

Meanwhile, here are some stocks to watch out in trade today:

Adani group: The group on Tuesday said it has repaid share-based financing of Rs 7,374 crore (over $900 million) and will prepay all such remaining loans by the end of the month, as it looks to allay concerns over leverage and debt to win over investors.

Allcargo Logistics: The company will acquire the remaining 38.87 per cent stake from its JV partners in Contract Logistics at an enterprise value of Rs 373 crore. With the acquisition, the company will take its stake to 100 per cent in Contract Logistics.

GAIL (India): The board of the company will meet on March 13 to consider and approve interim dividend for the current fiscal.

HAL: Hindustan Aeronautics has received an order for 70 HTT-40 trainer aircrafts worth over Rs 6,800 crore from the defence ministry.

Larsen & Toubro: The company has also bagged a contract worth Rs 3,100 crore for supply of three cadet training ships from the defence ministry. The ships will be indigenously designed, developed and constructed at L&T shipyard in Kattupalli, Chennai.

Zee Entertainment Enterprises: The company entered a settlement agreement with operational creditor Indian Performing Rights Society to settle all claims and disputes. Subsequently, IPRS has withdrawn its insolvency petition against the company.

Power Grid: The company's board has approved investments of nearly Rs 4,071 crore for two transmission projects in the country. The board has approved the transmission system for Kurnool Wind Energy Zone/ Solar Energy Zone (AP) -- Part-A & Part-B -- at an estimated cost of Rs 3,546.94 crore, scheduled to be commissioned by November 2024.

Ajanta Pharma: The board will consider a proposal for buyback of the equity shares of the company on March 10.

NMDC: The company appointed Vishwanath Suresh, Executive Director, Steel Authority of India Ltd., as Director (Commercial).

KPI Green Energy: The company signed a 20-year hybrid power purchase agreement for 1.85 MW capacity with Garrison Engineer, Military Engineer Services, Air Force Station, Jamnagar under independent power producer segment.

LTIMindtree: The company opened a new delivery centre in Krakow, Poland, expanding its presence in Eastern Europe.

NTPC: The company saw 11.92 per cent growth in electricity generation at 364.2 billion units between April 2022 and February 2023, compared to the country’s generation growth of 9.56 per cent, the powe ministry said. Its captive coal production in February stood at 2.6 million metric tonnes and the dispatch during the month stood at 2.5 MMT, marking a robust growth of 80 per cent and 87 per cent, respectively.

NBCC (India): The company received work orders for three projects cumulatively valued at Rs 541.02 crore. It also received the letter of award for construction of residential accommodation at Institute of Liver and Biliary Sciences, New Delhi for a contract value of Rs 90 crore.

Wipro: The company announced opening of its Americas Headquarters in East Brunswick, New Jersey.

PVR: The company opened a 11-screen multiplex in Phoenix Marketcity, Chennai.

RBL Bank: The bank elevated Deepak Ruiya to the position of deputy chief financial officer, with effect from March 6, 2023. He will be responsible for all the functions as are executed by a CFO till an appointment is made to the office.

Indraprastha Gas: The company and Genesis Gas Solutions have entered into a joint venture agreement to set up India’s first Integrated Smart Meter manufacturing plant with capital expenditure of Rs 110 crore.