GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Friday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded higher as the index was up 50 points or 0.23% at 22,078.00 indicating a positive start for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 gained 70.70 points or 0.32% to settle at 21,910.75, while the BSE Sensex closed 227.55 points or 0.32% higher at 72,050.38.

Stocks to Watch on February 16, 2024

HDFC Bank

Stocks To Watch: Hindustan Zinc, Suzlon Energy, Glenmark Pharma, Hindustan Aeronautics, Vedanta Stocks To Watch: Vedanta, Vodafone Idea, Happiest Minds Technologies, Asian Paints, Piramal Enterprises Stocks To Watch: Realty Stocks, Lupin, Tata Power, PB Fintech, SBI, Suzlon Energy, Godrej Consumer, ABFRL Stocks To Watch: Infosys, Coal India, Bank of Baroda, Maruti Suzuki, Tata Steel

The merger of HDFC Bank with mortgage lender HDFC has boosted the savings accounts portfolio of the bank. Pre-merger about 30% to 35% of incremental disbursals were to an HDFC Bank savings account customer. This number has risen by about 80% of incremental disbursals, post-merger. “Our aspiration is reach 90% by the end of this fiscal,” said Arvind Kapil, Country Head – Mortgage Banking, Home Loan, LAP, HDFC Bank. 

Bharti Airtel

Airtel Payments Bank has seen a significant surge in new customers applying online for various services, including bank account openings and FASTags, over the past few days, managing director and chief executive officer Anubrata Biswas told FE.

Coal India

The company on Thursday said the Haryana government has evinced interest in buying electricity from the company’s proposed power plant in Odisha. Haryana is keen to ensure electricity availability to meet the expanding energy demand of the state.

Sterlite Technologies

The company on Thursday announced it has partnered with the BAPS Hindu temple in Abu Dhabi and is responsible for connectivity in the temple. The company is responsible for end-to-end connectivity in the temple, provided through structured cabling solutions. The company’s solutions include optical fiber cables, category cables, cabinets, and racks to support network connectivity, security, wireless, and building management solutions.

Star Health and Allied Insurance Company 

The company announced that it has received a tax demand order for Rs 170 crore, along with a penalty of Rs 8.7 crore on non-payment of GST liability on the re-insurance commission received by the company during the period April 2018 to March 2019.

Welspun Corp

CRISIL has revised its outlook on the long-term bank facilities and non-convertible debentures of the company from ‘Stable’ to ‘Positive’ while rating at ‘CRISIL AA’. 

Cognizant

Cognizant’s India unit’s headcount declined by 4,500 to reach 254,000 at the end of year 2023, according to the New Jersey-based IT major’s annual report. The company’s financial year is the same as the calendar year — January-December.

HCLTech

HCLTech has asked its employees to work from office at least three days a week. It said that non-compliance with this mandate will be treated as unauthorised absence and will call for disciplinary actions. A mail from Vikas Sharma, global head, people function DFS (Digital Foundation Services), stated, “In line with HCLTech’s workplace policy, senior managers and the leadership team in DFS (E4 and above) have transitioned to a hybrid work model and work from office at least three days in a week. Effective February 19 the same hybrid work model will be applicable to all employees of Digital Foundation Services, including E0 to E3”.

Genesys International

The company has received an order from NCLT for the merger of VWSPTL, the wholly-owned subsidiary into Genesys International. NCLT has directed the company to conduct and convene the meetings of Genesys International Corporation’s creditors and creditors of VWSTPL for approval of amalgamation. 

TVS Motor

The Company has subscribed to a 28.57% stake in Indian Foundation for Quality Management through newly issued shares of the latter firm, according to an exchange filing.

Key earnings today

Schaeffler India, CRISIL, and Par Drugs & Chemicals will be releasing their third-quarter results.