At present, the Indian stock market is jittery due to several external reasons. However, analysts have picked a few stocks for interested investors to keep an eye on for Thursday, 24 February 2022.
Read along to get more details on those stocks!
1. Tata Consultancy Services
Tata Consultancy Services is an Indian multinational information technology services and consulting company. It has made a few changes in its North American leadership role. Like, Suresh Muthuswami has been appointed the chairman of North America. This is a significant change the company has made for the particular region.
The company’s share price as of 23 February 2022 was Rs. 3,563.80. This shows a 0.63% fall in share price based on the previous price, i.e., Rs. 3,719.4. However, it has experienced an upward move of 7.04% in the TCS share price in the last month.
2. Vodafone Idea Limited
Vodafone Idea Limited is an Indian telecom operator. Its parent Vodafone Group Plc stock is in talks to sell up to a 5% stake in tower firm Indus Towers to Bharti Airtel. The company plans to use these proceeds to invest in Vodafone Idea Limited. This is because of the self-mandated March deadline requiring loss-making telecom to collect funds from external investors that is soon to expire.
3. Vedanta Limited
Vedanta Limited is an Indian multinational mining company. It has set a meeting on 2 March 2022 among the company’s board members. The members expect to approve a third interim dividend for this financial year in the discussion. For this purpose, 10 March 2022 has been set as the record date for determining the equity shareholder’s entitlement for the specific dividend.
4. Adani Group
Adani Group is an Indian multinational conglomerate. Along with Shell Plc, the group is expected to run in front to get hold of Actis Llp’s Indian renewable energy platform Sprng Energy. The amount that is likely to run in equity is around $1 billion.
Moreover, the binding bids on what would be the biggest deal in India’s green energy sector will be made by 15 March 2022. In the first stage of the sale process, 17 firms have submitted their non-binding bids. Furthermore, the managing body of this sale process is Bank of America.
5. Future Retail Limited
Future Retail Limited is a supermarket company whose lenders are unwilling to sign an ICA or inter-creditor agreement. However, they will agree if the promoter Kishore Biyani shows a workable debt restructuring plan to revive hypermarket operators, as per people aware of such development.
The Bank of India leads the process, and the lenders are to meet later in the week to figure out what course of action needs to be followed next as the deadline is about to expire on 3 March 2022.
6. Welspun India Limited
Welspun India Limited is an Indian textile company and the world’s second-largest terry towel producer. It is planning to raise Rs. 500 crores by issuing commercial papers or non-convertible debentures based on private placement. In fact, this company is now waiting for the approval of the shareholders since the board has already approved the fundraising process.
7. Spandana Sphoorty Financial Ltd.
Spandana Sphoorty Financial Ltd. is a micro-finance firm that looks forward to completing its proposed Rs. 300 crores fundraising process by March 2022. Its long-term shareholder Valiant and promoter Kedaara Capital plan to subscribe to the shares during the process. Their preferential allotment stands at Rs. 459 per share, which is at a 20.5% premium compared to its closing share price as of Wednesday, 23 February 2022.
8. Ujjivan Small Finance Bank Limited
Ujjivan Small Finance Bank Limited is an Indian small finance bank that seeks its shareholder’s approval to raise a fund of up to Rs. 600 crores as equity capital. They plan to do this by the issuance of shares to QIB or Qualified International Buyers. This way, it will be able to fulfil the regulatory requirements for its amalgamation with the parent company.
It is a German multinational engineering and technology company that, in order to participate in a digital B2B marketplace for India’s independent aftermarket, has acquired a minority stake of 26% in Autozilla Solutions Private Limited. As a result of this deal, the analysts expect Bosch’s market pull to strengthen through its car service outlet and independent garages that come under an ‘extra’ loyalty programme.
10. Indian Hotels Company Limited
It is an Indian hospitality company that looks after the portfolio of spas, palaces, safaris, hotels, resorts, etc. Its parent, Tata Sons, is to dilute its stake by 8% in the company. This is to meet the requirement of raising a fund of around Rs. 2,000 crores through QIP or Qualified Institutional Placement in the coming two weeks.
Tata Sons, the Taj Group of Hotels operator, has a 41% stake in the company. Moreover, Indian Hotels Company Limited plans to reduce its consolidated debt amounting to Rs 1,905 crores with the proceeds generated.
Analysts expect the stocks of these ten companies to perform well in the share market on Thursday, 24 February 2022. All of these companies have either gone through some positive changes or planned better for reducing their debts, bringing scope for expansion. However, interested investors must go through all the other factors, including the company’s financials and vision, before investing.
Frequently Asked Questions
What is the current share price of Vodafone Idea Limited?
The current share price of Vodafone Idea Limited is Rs. 9.98 as of 24 February 2022, 12:32 PM.
Which is the last date to be eligible for TCS buyback?
TCS will turn their ex-record date on 22 February 2022 for Rs. 18,000 crores buyback. So, those who are interested must buy them beforehand.
When was Welspun India Limited founded?
It was founded on 17 January 1985 and now exports more than 94% of home textile products to 50+ countries worldwide.
Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.