Stocks To Watch: LIC, Equitas SFB, Laurus Labs, Paytm, NHPC & More

Popular stocks including LIC, Paytm, NHPC, and CRISIL are probably going to be in the spotlight for market observers on Monday, February 19.

NHPC

On February 16, 2024, in virtual mode, Hon. Prime Minister of India, Shri Narendra Modi, laid the foundation stone for a 300 MW solar power plant located in the village of Karnisar-Bhatiyan, Teh.: Poogal, District: Bikaner, Rajasthan. With an overall cost of more than Rs. 1,732 crore, the project is being set up by NHPC under the Government of India's CPSU Scheme, Phase-II, Tranche-III, and is expected to be put into service by September 2024.

Titagarh Rail Systems

The Ministry of Defence, Government of India, has issued an order to the company for the procurement of 250 specialised wagons for an amount of Rs 170 Cr. The contract will be put into effect twelve months after it is signed and will be completed in thirty-six months.

Paytm

In order to maintain smooth merchant settlements, One 97 Communications Ltd (OCL, Paytm) collaborates with Axis Bank for Escrow Accounts. It is anticipated that this arrangement would smoothly replace OCL's nodal account with Paytm Payments Bank. Since its inception, OCL's wholly-owned subsidiary Paytm Payment Services Ltd (PPSL) has made use of the Axis Bank services. Regarding nodal/escrow services, OCL and PPSL are also in talks with other banks on considering a second partner.

Laurus Labs

Through the subscription to the rights issue offered by LSPL for a cash consideration of Rs. 99,13,12,308/-for the acquisition of 7,600 equity shares of Rs. 10 each at a premium of Rs. 1,30,425.83/-per share, the company has added additional equity to its wholly-owned subsidiary M/s. Laurus Synthesis Private Limited (LSPL).

Equitas Small Finance Bank

Equitas Small Finance Bank announced its partnership as the official banking partner with Chennai Super Kings. As part of this partnership, Equitas is offering a number of banking perks, including contactless KYC video services, reward points on all debit cards, no maintenance charges, and up to 7% return on savings.

Jonjua Overseas

A Bi-Party Agreement has been signed between "Zuari Finserv Limited," New Delhi, and "Jonjua Air Limited," Mohali. According to the terms of the agreement, Zuari Finserv Limited will serve as Jonjua Air Limited's share transfer agent. Zuari Finserv Limited has been Jonjua Overseas Limited's share transfer agent since 2018, and Jonjua Overseas Limited's consultant for Jonjua Air Limited's startup operations. The inked agreement would allow Jonjua Air Limited's shareholders to maintain their shares in electronic format.

LIC

Refund orders for Assessment Years 2012-13, 2013-14, 2014-15, 2016-17, 2017-18, 2018-19, and 2019-20 have been received by Life Insurance Corporation of India. The refund amount totalled Rs. 25,464.46 crores. Regarding this, on February 15, 2024, the Income Tax Department released Rs. 21,740.77 Crore. The Corporation is pursuing the Income Tax Department for the remaining amount.

CRISIL

For the quarter that ended on December 31, 2023, CRISIL's consolidated income from operations climbed 11.6% to Rs 917.7 crore from Rs 822.3 crore during the same period the previous year. In comparison to the similar quarter of the previous year, which noticed on December 31, 2023, worth Rs 840.6 crore, the consolidated total income for the same quarter of the current fiscal increased by 13.4% to Rs 953.6 crore. The profit after tax for the quarter that ended on December 31, 2023, rose by 33.0% to Rs 210.1 crore from Rs 158.0 crore in the same period the year before. For FY24, a final dividend of Rs 28 per share has been recommended.