Stocks to watch: SpiceJet, IOC, Granules India, Phoenix Mills, ABB India

Stocks to watch: From SpiceJet to Indian Oil Corporation, here are top stocks likely to be in action in Monday's trading session

Lovisha Darad New Delhi
RoE stocks

Stocks to watch today: Subdued global mood are likely to keep domestic markets tepid in Monday's trading session. As of 7:15 am, the SGX Nifty stood at 17,514 levels, down nearly 30-odd points.
Globally, the US markets closed lower on Friday to record the worst week of 2023. Dow Jones, the S&P 500, and NASDAQ Composite declined up to 1.7 per cent.
Asia-Pacific markets, too, lost in tandem this morning, with Nikkei 225, Kospi, Kosdaq, the S&P 200, and Topix indices lowering up to 1 per cent.
Meanwhile, back home, here are top stocks likely to see action in Monday's trade:
SpiceJet: The airline operator registered a nearly five-fold surge in the October-December quarter (Q3FY23) to Rs 107 crore from Rs 23.28 crore, in the year-ago period. The management said that the profit was driven by strong performance in cargo and passenger segments. Despite that, high fuel prices and falling continue to act as headwinds to overall performance. READ MORE
IOC: The company will set up green hydrogen plants across all its refineries as it pivots Rs 2 trillion green transition plan to achieve net-zero emissions from its operations by 2046. The management aims to expand refining capacity to 106.7  million tonnes per annum from 81.2 million tonnes. READ MORE

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Interglobe Aviation: Over 50 planes of IndiGo and Go First are on the ground due to Pratt & Whitney engine woes, amid persisting supply chain headwinds. Airline operator IndiGo is looking at various options, including slowing down redeliveries through lease extensions, re-induction of aircraft into the fleet, among others. READ MORE
Mahindra Lifespace: The realty firm expects industrial leasing business to reach an annual revenue of Rs 500 crore by 2025, up from Rs 298 crore during the last financial year. In the residential segment, meanwhile, the company expects to touch Rs 2,500 crore by 2025, from Rs 1,000 last financial year. READ MORE

Granules India: The pharma major receives USFDA's approval for abbreviated new drug application (ANDA) of Losartan Potassium Tablets - 25 mg, 50 mg, and 100 mg. The tablets are used to treat hypertension in adults and pediatric patients.
Adani Ports and SEZ: The management announced that the company's cargo volumes crossed 330 million metric tonne (mmt) in 329 days, beating its own milestone from last year of 354 days.
ABB India: The company will invest Rs 1,000 crore in Indian business over the next five years for capacity expansion. The new facility in Nashik will help double the Gas Insulated Switchgear (GIS) production capacity and serve power distribution, smart cities, and other infrastructure developments.
Edelweiss Financial Services: The company received shareholders' nod to demerge its wealth management business, paving way to list Nuvama Wealth Management. The management said that the demerger is aimed at providing shareholders to directly participate with Nuvama's growth journey.
The Phoenix Mills: The company's wholly-owned subsidiary, Palladium Construction acquired prime land parcel in Alipore, Kolkata at Rs 414.31 crore, to develop premium and luxury residences. The management expects project completion by 2028-29.
Tega Industries: The company is set to acquire McNally Sayaji Engineering, in order to expand its business portfolio to service global and Indian businesses. The acquisition is expected to be complete over the next two months, and an optimal mix of internal resources and debt would finance the acquisition.

First Published: Feb 27 2023 | 7:29 AM IST

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