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Jubilant FoodWorks, NTPC, Torrent Power: Top Stocks for Investors on February 22

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The stock market on Friday, February 19, closed in the red where the BSE Sensex fell below the 51,000 mark while the NSE Nifty ended below 15,000. On the contrary, the market on Monday, February 22, is expected to give a positive start as the SGX Nifty was trading 61.50 points or 0.41 percent higher at 15,056.00 at 7:05 am. On February 19, the BSE Sensex declined 434.93 points or 0.85 percent to close at 50,889.76 whereas the NSE Nifty fell 137.20 points or 0.91 percent to settle the day at 14,981.75.

Top stocks to look for the day are:

Jubilant FoodWorks: Jubilant Foodworks Netherlands B.V. which is a wholly-owned subsidiary has entered into a purchase agreement to fully acquire Fides Food Systems Coöperatief U.A.

NTPC: At a project in Auraiya, Uttar Pradesh, the company has commissioned a 5-megawatt solar capacity.

Torrent Power: The company has become the highest bidder for 51 percent privatisation of Power Distribution Company in the Union Territory of Dadra and Nagar Haveli and Daman and Diu.

Jet Airways: The potential new owner Murari Lal Jalan, the lead member of the Jalan-Kalrock consortium told CNBC-TV18 that the airline is likely to fly again by the month of July or August 2021.

Narayana Hrudayalaya: The company has decided to invest USD 100 million for capacity expansion in the Cayman Islands.

Karnataka Bank: A fraud of Rs 34.16 crore in credit facilities extended to IL&FS Transportation Networks has been reported by the company to the Reserve Bank of India (RBI).

Lincoln Pharmaceuticals: The company’s long-term ratings and short term rating has been upgraded by ICRA to ICRA A and ICRA A1 respectively.

Foseco India: Mohit Mangal’s appointment as the chief financial officer (CFO) has been approved by the company in place of R Umesh.

Aarti Drugs: Pinnacle Life Science LLC which is a UAE-based subsidiary of the company has wound up.

SPEL Semiconductor: The board members of the company will meet on Monday to consider and approve quarterly results.

D B Realty: To discuss the issue of warrants and the preferential issue of shares the board members of the company will meet on February 22.

Source :Green Honchos Trending-News18

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Moody’s Projects 13.7% Growth in FY’22, Expects 7% Contraction This Fiscal

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Moody’s on Thursday upped India’s growth projection for the next financial year beginning April 1, to 13.7 per cent, from 10.8 per cent estimated earlier, on the back of normalisation of activity and growing confidence in the market with the rollout of COVID-19 vaccine. For current fiscal, the US-based rating agency expects the economy to contract 7 per cent, lower than its previous estimate of 10.6 per cent contraction.

Moody’s Investors Service Associate Managing Director (Sovereign Risk) Gene Fang said “our current expectation is that in the current fiscal ending March 2021, the economy would contract 7 per cent… We expect a rebound of 13.7 per cent growth in the next fiscal on normalisation of activity and base effects.”

The very large rebound incorporates the view that recovery in activity will continue, with the rollout of vaccines and growing confidence in the market that activities are coming back to normal, Fang said in an online conference on India Credit Outlook 2021 organised by Moody’s and its India affiliate ICRA. ICRA Principal Economist Aditi Nayar said it expects 0.3 per cent growth in the third quarter (October-December) of current fiscal.

ICRA expects Indian economy to contract 7 per cent in current fiscal and growth to rebound to 10.5 per cent in the next fiscal beginning April 1. “Recession in India has ended,” she said, adding there could be upside to growth in FY’22 if government’s capital expenditure increases, budget announcements are implemented and vaccination drives are carried out.



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