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Stocks in Focus: JM Financials, Wipro, JSW Energy, Zomato, and Others

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The GIFT Nifty futures were trading weak, down by 0.03% or 6.25 points at 22.427, indicating that the domestic indices will open on a negative note on Wednesday. 

Domestic benchmark indices NSE Nifty 50 and S&P BSE Sensex ended on a negative note on Tuesday, ending the four-day winning streak that had been riding the global sentiment and profit booking in IT shares. 

Nifty slumped 0.22% by 49.30 points and closed at 22,356.30, whereas the Sensex dropped 195.16 points, down by 0.26% to 73,677.13.

Here are some stocks that will likely remain in focus on 6 March.

Bank of India: The company has invested Rs 60.35 crore in the National Asset Reconstruction Company Limited via preferential share issue, bringing its total stake to 9% after the allotment of the new shares. 

JSW Energy: The company’s step-down subsidiary has entered into a battery energy storage purchase agreement with Solar Energy Corp. This deal covers 250 megawatt/500 megawatt-hour battery energy storage systems.

Zomato: An affiliate of Alibaba, Antfin Singapore, is set to offload 17.64 crore shares, representing a 2% stake in the company, via a block deal for an average price of Rs 159.4 per share.

JM Financial: The Reserve Bank of India has directed the company to cease financing against shares and debentures, including sanctioning and disbursing loans against initial public offerings. 

Wipro: The IT major plans to acquire a 27% stake in B2B sales platform SDVerse LLC for a total cash consideration of $5.85 million, which will be concluded before the end of March. 

Bharti Airtel: The company has given in-principle approval for the allotment of 56.8 lakh shares to Foreign Currency Convertible Bond (FCCB) at a conversion rate of Rs 518 per share.

IRCTC: The company has signed a Memorandum of Understanding (MoU) with Swiggy to offer pre-ordered meals through its e-Catering Services, enhancing customers’ dining experience while travelling. 

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