Stocks in Focus on March 7: Insurance Stocks, Steel Stocks, Realty Stocks, Nazara Technologies, PVR and many more

Lavern Vogel

Key equity benchmarks ended with deep losses on Friday, March 4, 2022, amid weak global cues. The barometer index, the S&P BSE Sensex, fell 768.87 points or 1.40% at 54,333.81. The Nifty 50 index shed 252.70 points or 1.53% at 16,245.35. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Monday, March 7, 2022. List of such Stocks:

Stocks In News

ICICI Lombard / New India Assurance + Auto Stocks: The third party insurance premium will increase after a gap of two-and-a-half years. The Union Road Transport Ministry has proposed a hike in the third-party motor insurance premium for various categories of vehicles, which will lead to an increase in insurance premium costs of cars and two-wheelers from April 1, 2022. The premium will increase by 6-23%. The last change in premium was made in June 2019.

Tata steel + JSW Steel + SAIL + JSPL +Jindal Stainless+ JSL Hisar: Steel mills have raised prices by up to Rs 2500/tonne. 

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JK Cement: The company has plans to foray into the paint business through a wholly-owned subsidiary. The company has said that its board has approved an investment of up to Rs 600 crore, spread over the first five years, in the subsidiary.

FMCG + Godrej Agrovet: Oil prices – Palm, Sunflower, Soya Oil, Vanaspati – has increased between February 15, 2022, and March 5, 2022, across the country. Relatively less change in the price of mustard. 

Godrej Properties + Oberoi Realty + Macrotech + IB Real Estate: Buying a house in cities like Mumbai, Thane, Navi Mumbai, Pimpri-Chinchwad, Pune, Nagpur will be expensive now as 1% Metro Cess will be applicable in Stamp Duty from April 1, 2022. The metro cess was waived by the state government for 2 years due to COVID-19. 

Nazara Technologies: Nazara Technologies Ltd on Friday said its board has approved the issuance of equity shares worth Rs 25 crore to existing shareholders of Datawrkz Business Solutions Pvt. Ltd on a preferential basis. The issuance is of 1,10,617 shares of the face value of Rs 4 each at an issue price of Rs 2,260 per equity share. Post completion of this acquisition, the Company will hold a 33% equity stake, on a fully diluted basis, in Datawrkz Business Solutions Private Limited. Besides, the Board of Directors also approved an investment of upto Rs 20 crore in Next Wave Multimedia Private Limited (Next Wave), a subsidiary of the Company.

Balkrishna Industries Ltd.: The Company has successfully commenced commercial production of the Brown Field Expansion and Debottlenecking Project at BHUJ Plant ahead of schedule. This will result in increased production of tires up to 50,000 MTPA. The complete ramp-up in production is expected to be achieved in the next 6 months.

PVR/Cinepolis: India’s leading multiplex chain PVR and Cinepolis, reportedly, are in advanced merger talks. Cinepolis will be the largest shareholder in the merged company, with around a 20% stake while PVR promoters will own between 10% and 14% but Ajay Bijli (CMD of PVR) will have complete management control for at least three years.

Force Motors: The company has said that its total production grew by 9.1% MoM to 1,545 units in February 2022 compared to 1,416 units sold in the previous month (January 2022). Its domestic sales dropped by 4.9% MoM to 1,086 units against 1,142 units sold in January 2022 while exports jumped by 18.4% MoM to 225 units against 190 units.

Hatsun Agro Product: Hatsun Agro Product Ltd on Saturday said its board will meet on March 9, 2022, to consider a proposal for the sale of assets of the RTE (ready-to-eat) business and its brand ‘Oyalo’ to the prospective buyer at a price mutually agreeable to the company and the buyer.

Emami: Fast moving consumer products company on Saturday said it has picked up a 19% stake in nutrition products maker Tru Native F&B Pvt Ltd for an undisclosed amount.

Promoter Action 

Dhani Services: Promoters Zelkova Builders bought 1.60 crore shares (2.63% stakes) of the company from the open market on March 2, 2022.

International Conveyors: Promoter IGE (India) Private bought 42,674 shares (0.04% stakes) of the company from the open market on February 28, 2022.

Prakash Industries: Promoter Ved Prakash Agarwal bought 1.15 lakh shares (0.064% stakes) of the company from the open market on March 3, 2022.   

NCL Industries: Promoter bought 17,474 shares (0.04% stakes) of the company from the open market on March 3, 2022.

Khadim India: Promoter bought 41,600 shares (0.23% stakes) of the company from the open market on March 2, 2022. 
Supreme Petrochem: Promoter bought 0.30% stakes of the company.

Dividends 

Shriram Transport Finance: Declared second interim dividend of Rs 12 per equity share of Rs.10/- each fully paid up (120%) for the Financial Year 2021-22. The company has fixed Monday, March 14, 2022, as the Record Date for the payment of the second interim dividend. 

Nestle India: The Board of Directors of the Company, for administrative reasons, have revised the date of the 63rd AGM to Tuesday, April 12, 2022. Consequently, the Record Date to determine the entitlement of the members to the final dividend for the year 2021 is April 22, 2022.

RITES: The Board of Directors of the Company is scheduled to meet on March 14, 2022, to declare a third interim dividend, if any, on equity shares of the Company.  

Mishra Dhatu Nigam: The Board of Directors of the Company is scheduled to meet on Monday, March 14, 2022, to inter alia consider a proposal relating to the declaration of Interim Dividend for FY2021-22. The Record date for entitlement for the aforesaid Interim Dividend, if declared by the Company will be Wednesday, March 23, 2022.

TVS Electronics: The Board of Directors has declared an Interim Dividend of Rs 2 per Equity Share for the financial year ending March 31, 2022. The Interim Dividend will be paid on March 23 2022 (“Payment Date”) to those shareholders whose names appear in the Register of Members and/or Depositories as of March 16, 2022, being the “Record Date” fixed by the Company for this purpose.

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