Kotak Mahindra Bank, ZEEL, Paytm, JSW Infra, Union Bank, HDFC Bank, Ashok Leyland, and Biocon are stocks to keep an eye on

The Indian market indexes BSE Sensex and NSE Nifty 50 might open higher on Monday, according to GIFT Nifty. Here are some important stocks to keep an eye on while trading.

Focused Stocks: On Monday, the local indexes NSE Nifty 50 and BSE Sensex had a solid start as the GIFT Nifty traded up 41 points, or 0.18%, at 22,290. Earlier on Friday, the BSE Sensex fell by only 15.44 points, or 0.02%, to 73,142.80, while the NSE Nifty 50 finished down by just 4.75 points, or 0.02%, to conclude at 22,212.70.

Benchmark indexes gave up their early gains ahead of the monthly derivative expiration in the next week, after an intraday high for the fifth consecutive trading session. The worldwide market upswing, which was bolstered by record highs in the US, European, and Japanese markets, is what drove today’s surge. Nifty gathered around record highs today. But because the general trend is still favorable and this is just a temporary halt in the broader up momentum, any decline towards the support zone of 22,130–22,090 can be seen as a buying opportunity. Senior Vice President (Research) Prashanth Tapse of Mehta Equities Ltd.

Additionally, Tapse said that the critical support zone is 22,130–22,090, and that the Nifty levels of 22,300–22,350 should serve as an urgent barrier zone in the near future. Traders are anticipating fresh stimuli as the corporate results season draws to a close, but they are also riding the pre-election wave. However, FII selling is expected to persist as worries about increasing crude oil prices, rising US bond rates, and stretched valuations remain in the market.

Kotak Mahindra Bank Stocks to Monitor on February 26, 2024

For a total of Rs 5,560 crore, Zurich Insurance Company plans to acquire main and secondary acquisitions to acquire 70% of Kotak Mahindra General Insurance Company in a single tranche.

Urban Development and Housing
In the following twelve months, the Indian government intends to sell up to 0.17% of its stock in Housing and Urban Development in order to reach a minimum public ownership of 25%. Currently, the government owns 75.17% of the stock.

Zee Entertainment Enterprises has formed an independent advisory group to look into and resolve claims of market rumors, speculation, and widespread disinformation about the firm.

The Reserve Bank of India (RBI) has given HDFC Bank permission to sell off 90% of its education lending subsidiary HDFC Credila. A group of private equity companies, including BPEA, EQT, and ChrysCapital group, will purchase the shareholding.

The issue price for Union Bank of India’s fully subscribed Qualified Institutional Placement (QIP) has been authorized at Rs 135.65 per share.

In order to maintain stability in the payment ecosystem, the Reserve Bank of India has instructed the National Payments Corporation of India to investigate the potential of moving Paytm Payments Bank clients using the UPI handle “@paytm” to four or five other banks.

The V.O. Chidambaranar Port Authority has sent JSW Infra a letter of award for the handling of dry bulk cargo at the port on a design, construct, finance, operate, and transfer (DBFOT) basis as part of a public-private partnership (PPP).

In order to secure a five-year term loan facility, Biocon has provided a $20 million corporate guarantee in favor of Mizuho Bank Ltd. on behalf of its wholly-owned subsidiary, Biocon Generics Inc.

Ashok Leyland has bolstered its automotive division by paying Rs 24.95 crore to acquire a 49.9% share in TVS Trucks.

Power Grid Corporation of India has awarded Skipper a new contract worth ₹737 crore for the design, delivery, and construction of a new 765 kV transmission line project.

The Haryana Renewable Energy Department has awarded Shakti Pumps a third work order under the KUSUM-3 project for 2,443 pumps, totaling ₹84.3 crore.

By paying $10 million for a 20% strategic share in the US-based application and AI development business XDuce, Infibeam Avenues has increased its worldwide footprint.