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Stocks To Watch: Vedanta, Tata Group, Paytm, JSW Steel, Adani Group Shares To Be In Focus On Friday
Stocks To Watch: Vedanta, Tata Group, JSW Steel, and Adani Group shares to be in focus. Check global cues and GIFT Nifty ahead of Friday market opening.
Stocks To Watch: Vedanta, Tata Group, Paytm, JSW Steel, Adani Group Shares To Be In Focus On Friday (image source: iStock)
Stocks To Watch: GIFT Nifty on Friday at 8:30 am was down by 20 points or 0.9 per cent at 22,172. The index hinted at a flat start for D-Street.
Global Cues
Global cues are positive. The US stock market advanced on Thursday, and all three major indices closed positive note. The tech-heavy Nasdaq closed at a record high by adding 0.90 per cent or 144 points reaching 16,091. The Dow Jones Industrial Average rose around 47 points, or 0.1 per cent, at 38,996. The S&P 500 added 0.5 per cent and finished at a record close of 5,096.27.While the Japan's Nikkie surged by 1.83 per cent or 717 points at 39,883.
Ahead of Friday's market opening take a look at stocks that are in the news.
Stocks To Watch
Larsen & Toubro ((L&T): Larsen & Toubro, a leading infrastructure company, has commissioned its first domestically produced electrolyser at the green hydrogen plant located in the A M Naik Heavy Engineering Complex, Hazira, Gujarat.Paytm (One 97 Communications): Paytm is reportedly shifting its merchant accounts to Yes Bank, according to media sources. The company has also purportedly applied for a third-party application provider license from NPCI in collaboration with Yes Bank and Axis Bank.
Tata Group Stocks: The Union Cabinet has approved investments worth Rs 1.26 trillion for three semiconductor plants. This includes a proposal from Tata Group to establish India’s premier chip fabrication facility in Dholera, Gujarat and a packaging unit in Assam.
Vedanta: Vedanta suffered a legal setback as the Supreme Court dismissed its plea to reopen the Sterlite Copper smelting plant in Thoothukudi, Tamil Nadu. The court upheld the 2020 verdict of the Madras High Court and the Tamil Nadu Pollution Control Board’s decision to halt operations due to violations of environmental regulations.
JSW Steel: JSW Steel announced the formation of a wholly-owned subsidiary, JSW Green Steel Ltd, for the production of hot-rolled and cold-rolled steel products. The subsidiary, incorporated on February 27 in Mumbai, is yet to begin its business operations.
Adani Group’s Stocks: Adani Group improved its leverage position in the quarter ending December, with the net debt to operating profit ratio reaching 2.5 times and a debt coverage ratio of 2.1 times, ET reported.
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