Asian Equities Traded in the US as American Depositary Receipts Higher in Thursday Trading

Let's catch up on the latest news from the stock market. From significant investments to major deals, appointments, order wins and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:

Stocks To Watch

Wipro

The technology services and consulting company has won a 500 million pound, 10-year strategic deal with Phoenix Group, the UK's largest long-term savings and retirement business. The project is designed to deliver life and pension business administration for the ReAssure business and accelerate Phoenix Group’s operational transformation.

JB Chemicals and Pharmaceuticals

Promoter Tau Investment Holdings Pte is likely to sell a 10.2% stake in the company via block deals, reports CNBC-TV18, quoting sources. The offer price for the deal may be set at Rs 1,625 per share, and the deal size is likely to be Rs 2,576 crore.

Max Financial Services

Promoter entity Max Ventures Investment Holding is likely to sell up to a 1.59% stake in Max Financial via block deals, reports CNBC-TV18, quoting sources. The offer price may be fixed at Rs 1,117.6 per share, and the block deal size at Rs 611.6 crore.

UPL

Alpha Wave Ventures II, LP has invested $100 million for a 3.51% stake in Advanta Enterprises through a primary investment. The company sold an 8.93% stake (post-primary investment) in Advanta Enterprises to Alpha Wave for $250 million.

TVS Supply Chain Solutions

The company will invest up to Rs 250 crore in its three wholly owned overseas subsidiaries - TVS Logistics Investment UK, TVS Supply Chain Solutions Pte Ltd, Singapore, and TVS Logistics Investments USA Inc, USA.

Timken India

The Board has appointed Sujit Kumar Pattanaik as Business Controller – India & Chief Financial Officer of the company, effective April 1. However, Avishrant Keshava has resigned as Business Controller – India & CFO of the company, effective March 31, due to organizational changes. He will continue to serve as a Whole-time Director of the company.

Torrent Power

The company sold equity shares of its 10 subsidiaries for Rs 474.26 crore to its wholly owned subsidiary company Torrent Green Energy.

Indian Hotels Company

The company has infused $9 million as equity in IHOCO BV, its wholly owned subsidiary in the Netherlands. The investment amount will be used by IHOCO BV to further invest in its subsidiary United Overseas Holding Inc in the USA to repay its debt and for other operational purposes.

Restaurant Brands Asia

The Fund Raising Committee has closed a Qualified Institutions Placement and raised Rs 500 crore via the allotment of 8.33 crore equity shares to eligible qualified institutional buyers at an issue price of Rs 60 per share, including SBI Mutual Fund, Massachusetts Institute of Technology, Arisaig Asia Fund, ICICI Prudential Life Insurance Company, and Motilal Oswal Large Cap Fund.

Bharat Forge

The Ministry of Defence has signed contracts worth Rs 6,900 crore with Bharat Forge and Tata Advanced System for the procurement of 155mm/52 calibre advanced towed artillery gun systems (ATAGS) and high-mobility vehicle 6x6 gun towing vehicles, respectively.

Sterlite Technologies

The optical and digital solutions company announced its partnership with Wyre to support the development of their expansive multigigabit fibre-to-the-home (FTTH) network in Belgium.

NBCC (India)

The company has signed a strategic Memorandum of Understanding (MoU) with Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT). They will jointly undertake a wide range of consultancy, fee-based, EPC, and redevelopment projects from concept to commissioning. These projects, with an estimated value of Rs 25,000 crore, will be executed in a phased manner over the next three to five years.

BSE

The Board will meet on March 30 to consider the proposal for the issue of bonus shares.

IRM Energy

The company has signed a 5-year contract with Shell Energy India for the supply of Regasified Liquefied Natural Gas (RLNG). The total quantity to be purchased under the agreement will be 1,23,21,200 MMBtu.

Ashok Leyland

The company's step-down subsidiary Switch Mobility, UK, approved the commencement of the consultation process with employees, which could potentially lead to the cessation of its manufacturing and assembly activities at the Sherburn facility. Switch UK will execute and complete all the orders on hand and will continue to provide aftermarket support for the existing vehicle park. Switch UK, a manufacturer of electric buses with a presence across the UK & Europe, has no plans to exit the UK market.

Vedanta

The Board has approved the appointment of Rajiv Kumar as CEO – Aluminium Business and has designated him as Senior Management Personnel at Vedanta, for three years, effective March 26. He joins Vedanta Aluminium from Tata Steel.

NHPC

The company has completed the trial run of Unit 3 (200 MW) of the Parbati II HE project (4x200 MW) in Himachal Pradesh.

MSTC

The Board has declared a third interim dividend of Rs 4.50 per share for the financial year 2024-25.

Bank of India

The IBU Gift City Branch has executed the facility agreement for borrowing JPY 15 billion (equivalent to $100 million) for on-lending and other general corporate purposes at overseas branches.

Rolta India

Bank of India has declared Rolta India as a fraud. The company's NPA amount is Rs 616.3 crore, as announced by the bank.

Aditya Birla Capital

A Board meeting is scheduled for March 31 to consider the proposal of raising funds by issuing debt securities, including non-convertible debentures, within the overall approved borrowing limits.

Macrotech Developers

The company and Cowtown Infotech Services (a wholly owned subsidiary of the company) have settled the arbitration with mutual consent.

Bandhan Bank

The Income Tax Department has issued an assessment order to the bank, demanding tax, including applicable interest, amounting to Rs 119.38 crore on disallowances of certain expenditures/deductions claimed, for the Assessment Year 2023-24.

HDFC Bank

The Reserve Bank of India has imposed a penalty of Rs 75 lakh on HDFC Bank for non-compliance with certain directions issued by the RBI on Know Your Customer.

Sunteck Realty

The real estate company will invest $10 million to $20 million in one or more tranches in its subsidiary Sunteck Lifestyle International. Sunteck Lifestyle International will use the proceeds for further investment in entities undertaking, directly or indirectly, the existing Dubai project.

Hindustan Unilever

The Board has approved the appointment of Rajneet Kohli as Executive Director, Foods, and General Manager, India – Foods Business Unit, effective April 7. Rajneet Kohli will succeed Shiva Krishnamurthy, who has decided to pursue other opportunities.

Oracle Financial Services Software

The Board has appointed Jane Murphy as Chairperson of the company, effective April 1. Currently, Jane Murphy is the Non-Executive Independent Director of the company. Sridhar Srinivasan will retire as Non-Executive, Independent Director of the company, and the current Chairperson of the Board, effective March 31.

Piramal Enterprises

The company has invested Rs 600 crore in its subsidiary Piramal Finance via a rights issue. Piramal Finance will utilize the Rs 600 crore funds towards business and general corporate purposes.

TVS Motor Company

The company's subsidiary TVS Motor (Singapore) Pte has acquired an additional 30% stake in EBCO from its existing shareholder for GBP 60,000. With this, EBCO has become a wholly owned subsidiary of TVS Motor (Singapore) and the company.

Bulk Deals

National Highways Infra Trust

Axis Bank sold 1.71 crore units of National Highways Infra Trust at an average price of Rs 133.8 per unit, valued at Rs 229.8 crore.

Bajaj Hindusthan Sugar

Bajaj Holdings and Investment exited the company by selling its entire stake of 1.3 crore shares at an average price of Rs 19.63 per share, amounting to Rs 25.65 crore.

Meson Valves India

Emerging Giants Fund - Equity Opportunity bought 70,800 shares in the company at an average price of Rs 403.55 per share.

Block Deals

Agro Tech Foods

Promoter entity CAG-Tech (Mauritius) bought 1.55 lakh shares in the company at an average price of Rs 797.8 per share, from Infinity Portfolio Holdings.

SME Listing on March 27

Grand Continent Hotels

Stocks Trade Ex-DividendSundaram-ClaytonAuthum Investment & InfrastructureBombay Burmah Trading Corporation

Naperol Investments

Stocks in F&O ban

Hindustan Copper

Stocks removed from F&O banIndusInd Bank

Tech stocks were in the red Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) dropping 2.3% and the SPDR S&P Semiconductor ETF (XSD) slumping 3.6%.

The Philadelphia Semiconductor index fell 3.8%.

In corporate news, Meta , Microsoft's LinkedIn and Elon Musk's X received value-added tax demands from the Italian government, Reuters reported. Meta shares were falling 2.1%, and Microsoft was down 1.1%.

Trimble shares fell 2.2% after it said Wednesday it has received a deficiency notification from Nasdaq stating that it's not in compliance with a listing rule due to a failure to timely file its annual report on Form 10-K for the period ended Jan. 3 with the Securities and Exchange Commission.

Wipro said Wednesday that it has won a 500 million British pounds ($645 million) 10-year deal with Phoenix Group, a savings and retirement business in the UK. Wipro shares were down 0.6%.

Wipro said Wednesday that it has won a 500 million British pounds ($645 million), 10-year deal with Phoenix Group, a long-term savings and retirement business in the UK.

The project will deliver life and pension business administration for the ReAssure business, including policy administration, claims processing and customer service support, the company said.

Asian equities traded in the US as American depositary receipts were heading lower Wednesday morning, declining 0.86% to 2,230.82 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by solar panel maker JinkoSolar and fintech firm Pintec Technology , which climbed 11% and 5%, respectively. They were followed by diagnostic imaging centers company Concord Medical Services and online game developer The9 , which increased 3% and 2.7%, respectively.

The decliners from North Asia were led by wealth management firm Noah and online education platform 17 Education & Technology Group , which shed 9.4% and 6.5%, respectively. They were followed by computer hardware maker Canaan and biotech firm Zai Lab , which were down 5.6% and 5.1%, respectively.

From South Asia, the only gainers were telecommunications operator Telekomunikasi Indonesia and IT firm Wipro , which rose 3.9% and 0.2%, respectively.

The decliners from South Asia were led by tech conglomerate Sea and IT company Infosys , which lost 1.1% and 0.8%, respectively. They were followed by financial services company ICICI Bank and telecommunications operator PLDT , which were off 0.5% each.

Asian equities traded in the US as American depositary receipts were tracking lower Tuesday morning, declining 0.31% to 2,250.99 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by education company 17 Education & Technology Group and online brokerage UP Fintech , which rose 5% and 3.4% respectively. They were followed by polysilicon manufacturer Daqo New Energy and streaming music provider Tencent Music Entertainment Group , which were up 3.3% and 2.9% respectively.

The decliners from North Asia were led by technology company Xunlei and consumer lending firm LexinFintech , which fell 4.3% and 3.8% respectively. They were followed by internet and data center services provider VNET Group and game-centric live streaming platform DouYu International , which dropped 3.7% and 3.3% respectively.

From South Asia, the gainers were led by IT firm Infosys and telecommunications operator Telekomunikasi Indonesia , which increased 2.2% and 1.6% respectively. They were followed by IT firm Wipro and financial services company HDFC Bank , which were up 1.1% and 0.02% respectively.

The decliners from South Asia were led by pharmaceutical company Dr. Reddy's Laboratories and IT company Sify Technologies , which lost 2.2% and 0.7% respectively. They were followed by financial services company ICICI Bank and tech conglomerate Sea , which were down 0.6% each.