Stocks to Watch Today: Zomato, Jio Financial, Lupin, RVNL, Ujjivan SFB, Granules India, Vedanta & More – February 24
Stocks to Watch Today : The stock market is poised for an eventful trading session on February 24, with several key stocks making headlines due to index changes, investments, acquisitions, and regulatory updates. Investors should keep an eye on Zomato, Jio Financial Services, Lupin, Rail Vikas Nigam Limited (RVNL), Ujjivan Small Finance Bank, Granules India, Vedanta, and Paisalo Digital, among others. Let’s take a deep dive into today’s top stocks in focus.
Key Stocks in Focus
Zomato & Jio Financial Services
Zomato and Jio Financial Services are set to enter the Nifty 50 index, replacing Britannia Industries and Bharat Petroleum Corporation, effective March 28. Additionally, both companies will be removed from the Nifty Next 50 index, where they will be replaced by several other stocks, including Bajaj Housing Finance, Indian Hotels Company, and Swiggy.
Bharti Airtel
The telecom giant’s Special Committee of Directors has greenlit an increase in its stake in Airtel Africa plc by up to 5% through Airtel Africa Mauritius in FY25. Currently, Airtel Africa Mauritius holds 57.29% of Airtel Africa plc.
Coal India
The coal mining giant has signed a non-binding agreement with EDF India to establish a joint venture focusing on pumped storage hydro (PSP) and renewable energy projects across India and neighboring countries.
Crompton Greaves Consumer Electricals
The company has appointed Tanmay Prusty as its Chief Marketing Officer, who will assume the role starting February 24.
Adani Green Energy
Adani Green Energy’s step-down subsidiary, Adani Green Energy Twenty Four (AGE24L), has operationalized a 250 MW solar power project in Rajasthan, increasing its total operational renewable generation capacity to 11,916.1 MW.
Lupin
The global pharmaceutical company has received an Establishment Inspection Report (EIR) from the USFDA for its Somerset, New Jersey facility, following an inspection conducted from January 27 to 31.
Rail Vikas Nigam Limited (RVNL)
RVNL has emerged as the lowest bidder for a ₹156.35 crore contract from South Western Railway for an EPC project involving the electrification of railway lines.
Ujjivan Small Finance Bank
The bank has approved the sale of non-performing assets (NPA) and written-off loans worth ₹364.51 crore to an asset reconstruction company, with a provision coverage of 66.51% on these loans.
Paisalo Digital
Amid market volatility, Paisalo Digital has withdrawn its plan to issue 3.37 crore convertible equity warrants due to a significant decline in its share price.
Bajaj Auto
The company’s board has approved an investment of up to €150 million in its Netherlands-based subsidiary, Bajaj Auto International Holdings BV.
Granules India
The pharmaceutical company will acquire 100% equity stake in Switzerland-based Senn Chemicals AG for ₹192.5 crore, further strengthening its global contract research and manufacturing services.
Vedanta
Vedanta has been declared the preferred bidder for the Kauhari Diamond Block, offering the highest final price bid of 1.10%. The block covers 643.4 hectares and is at the G4 level of exploration.
Brigade Enterprises
The real estate developer plans to invest ₹1,500 crore in Kerala, including projects such as a World Trade Center, a residential complex, and a luxury island resort in Vaikom.
Market Highlights & Key Developments
DTH Sector Relief
The Telecom Regulatory Authority of India (TRAI) has recommended reducing the authorization fee for direct-to-home (DTH) services from 8% to 3% of adjusted gross revenue (AGR), with plans to remove the fee entirely by FY27. This move is expected to benefit DTH players like Tata Play, Airtel Digital TV, and Dish TV.
Bulk Deals
- Alkem Laboratories: SBI Mutual Fund acquired a 0.5% stake at ₹4,680 per share, totaling ₹300.32 crore.
Mainboard & SME Listings (February 24)
- Mainboard: Quality Power Electrical Equipments
- SME Listings: Royal Rrc Electrodes, Tejas Cargo India
Stocks Trading Ex-Dividend
- ASM Technologies
- Prithvi Exchange India
F&O Ban
- Chambal Fertilisers and Chemicals
- Manappuram Finance
Financial Ratios of Key Stocks
| Stock | P/E Ratio | P/B Ratio | ROE (%) | Debt/Equity Ratio |
|---|---|---|---|---|
| Zomato | 125.8 | 5.6 | 2.4 | 0.02 |
| Jio Financial Services | 32.4 | 2.1 | 9.8 | 0.35 |
| Lupin | 43.2 | 3.2 | 12.1 | 0.45 |
| RVNL | 14.5 | 1.8 | 16.7 | 0.60 |
| Ujjivan SFB | 11.2 | 1.6 | 14.2 | 0.89 |
| Granules India | 22.6 | 2.9 | 15.3 | 0.52 |
| Vedanta | 7.9 | 1.3 | 18.4 | 2.1 |
| Paisalo Digital | 19.5 | 2.4 | 10.9 | 0.48 |
Conclusion
With crucial developments such as index reshuffles, investments, regulatory relief, and acquisitions, the stock market is set for an action-packed trading session on February 24. Investors should keep a close watch on these key stocks to identify potential opportunities.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.