Business Standard

Stocks to watch: Reliance, Coal India, BHEL, Shriram Finance, UPL, Jio Fin

Stocks to Watch on February 29, 2024: Under the NSE index rejig, Shriram Finance will replace UPL in the Nifty50 index with effect from March 28, 2024


Illustration: Binay Sinha

Harshita Singh New Delhi

Listen to This Article

Stocks to Watch on February 29, 2024: Equity benchmark indices Sensex and Nifty may start higher as investors await Q4 GDP data later today, and the PCE inflation index in the US. 

At 7:30 am, the Gift Nifty futures were up 45 points at 21,967. 

In Asia, ASX 200, Kospi and Nikkei were trading up to 0.5 per cent lower this morning. Hang Seng and Shanghai Composite were up 0.1 per cent and 0.5 per cent, respectively.

Overnight, the S&P 500 fell 0.17 per cent, while the Nasdaq Composite slipped 0.55 per cent. The Dow Jones shed 0.06 per cent.

Here are some stocks to watch today: 

Reliance Industries: Reliance Industries, Viacom18 Media and The Walt Disney Corporation on Wednesday entered into an agreement to form a joint venture that would merge the television and digital streaming businesses of Viacom18 and Star India and create an entertainment giant in India. Read

Reliance is also in exploratory talks with British fashion retailer Primark to bring the label to India, pitting it against Tata's Zudio, Landmark Group-owned Max and Shoppers Stop's new value format InTune, as per The Economic Times. 

NSE index rejig: Under the NSE index rejig, Shriram Finance will replace UPL in the Nifty50 index with effect from March 28, 2024. 

The Nifty Next 50 Index will include Adani Power, Indian Railway Finance Corporation, Jio Financial, Power Finance Corp and REC. These compaies will be replaced Adani Wilmar, Muthoot Finance, PI Industries, Procter & Gamble Hygiene and Shriram Finance.

Coal India and Bharat Heavy Electricals: The two have announced entering into a joint venture agreement to set up of an ammonium nitrate plant as part of the planned coal-to-chemical business. The joint venture will see Coal India owning 51 per cent and BHEL 49 per cent. 

Venus Pipes: It has forayed into stainless steel pipes and tubes (fittings business). It will introduce a specialized product line of stainless and titanium welded tubes at a tolal capex of Rs 175 crore.  

ICICI Securities: SEBI has issued an administrative warning to the company in connection with the inspection of books and records for the Merchant Banking activities. 

Greenply Industries: Its flagship brand Greenply has got the status of 'well-known trademark' by the government's trade mark registry.  

Oil India: the state-owned company's board would meet on Friday, March 8 to consider and declare a second interim dividend for FY24. 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 29 2024 | 8:03 AM IST

Explore News