Stocks to watch: Axis Bank, Bajaj Finance, Adani Power, IndusInd Bank, L&T

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

Stocks in Focus: GIFT Nifty traded up 26 points or 0.13% at 19,828, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 dipped 33.40 points or 0.17% to settle at 19,731.80, while the BSE Sensex dropped 187.75 points or 0.28% to 65,794.73.

Stocks to Watch on November 20 November, 2023

Bajaj Finance:

The Reserve Bank of India’s directive has led Bajaj Finance, a leading NBFC, to temporarily halt the issuance of ‘Existing Member Identification’ cards to new customers.

SBI Cards and Payment Services:

SBI Cards anticipates a 400 basis points decline in capital adequacy, attributed to the Reserve Bank of India’s revised credit risk weights.

Adani Power:

Adani Power sees strategic investments with Ardour Investment holding Ltd. acquiring 1.93% and Emerging Market Investment DMCC acquiring 0.13% of the company’s shares. Promoters now hold 71.14% in Adani Power.

Larsen & Toubro:

Larsen & Toubro contests the imposition of a Rs 111.31 crore penalty for 2016-2017 and Rs. 127.64 crore for 2017-2018 by Qatar’s General Tax Authority, deeming it arbitrary and unjustified.

IndusInd Bank:

The Reserve Bank of India approves the appointment of Arun Khurana as the whole-time executive director of IndusInd Bank for a three-year term, effective from Nov. 16, 2023.

Ashok Leyland:

TheCompany has received bookings of 10,000 battery-driven light trucks and has unveiled the two new e-LCVs in Chennai.

Tamilnad Mercantile Bank:

The Enforcement Directorate orders Tamilnad Mercantile Bank to transfer a 3.31% stake held by MGM Maran. This follows the attachment of assets worth Rs 205 crore under PMLA in 2016.

Rites:

Rites secured bids in two tenders from CFM Mozambique, winning contracts for the supply of 10 diesel electric locomotives and 300 high side wagons.

Dalmia Bharat Sugar:

Dalmia Bharat Sugar reports operational disruptions at its Kolhapur and Ninaidevi units in Maharashtra due to Farmer’s Sangathan Agitation.

BPCL:

Bharat Petroleum Corporation Limited (BPCL) announces plans to expand its fuel retail network by two-thirds, aiming for strategic growth in the sector.