Key Stocks to Watch in Today's Session - March 13, 2024

Market Highlights: Key Stocks in Focus Today

In today's financial updates, a number of stocks are drawing attention due to significant developments that could impact their market performance. Investors are closely watching as some notable companies have made headlines.

Vedanta Ltd is under the regulatory radar as it has been mandated to pay a hefty sum of ₹77.62 crore to Cairn for a dividend delay, which has led to the barring of Vedanta's board from the capital market. The metal and mining giant acknowledged the order in a recent filing and is considering legal recourse.

Tobacco heavyweight BAT PLC intends to offload up to 3.5% of its stake in ITC Ltd, the leading Indian conglomerate. This move involves a potential sale of over 43 million shares to institutional investors, which marks a significant adjustment in the ownership structure of ITC.

Pharmaceutical giant Dr Reddy’s Lab is facing a financial challenge as it receives a tax demand notice, including penalties amounting to over ₹74 crore for incorrect input tax credit claims, putting the company under scrutiny from the GST authority.

Hindustan Construction Company (HCC) is in the spotlight with the launch of a ₹350-crore rights issue, stating the terms for existing shareholders and the schedule for the offering. This move aims to strengthen HCC's financial position and foster growth.

ICICI Prudential AMC takes a cautious approach by suspending lump-sum investments in mid- and small-cap funds and capping SIPs/STPs due to concerns over potential market instability, especially in volatile stock segments.

In the finance sector, Muthoot Finance is expanding its footprint in the electric vehicle space by collaborating with evfin for financing electric two-wheelers, signaling a push for green transportation solutions.

Private hospital chain Shalby makes a strategic acquisition by taking over Healers Hospital, implying potential growth and expansion in their healthcare service offerings.

Real estate developer Signature Global announces a new affordable housing project in Gurugram, introducing 235 units over a span of 1.66 acres and contributing to the affordable housing segment.

ITC, Vedanta, DrReddys, HCC, ICICIPrudential, MuthootFinance, Shalby, SignatureGlobal