Stocks To Watch: Groww, Infosys, Adani Ent, BPCL, HAL, SpiceJet, Dabur, NTPC Green, And Others

Stocks to Watch on November 20: Markets edged higher on Wednesday, with the Nifty reclaiming the 26,000 mark and reversing the previous session’s weakness. The rebound was driven largely by unexpected strength in IT majors after Infosys announced its Rs 18,000-crore share buyback effective November 20, which boosted sentiment across the sector.

Analysts remain optimistic amid the ongoing consolidation phase and expect the Nifty to attempt fresh highs if it breaks above 26,100 decisively.

In today’s session, shares of Groww, Infosys, Adani Power, Sammaan Capital, HAL, and others will be in focus due to key news developments.

Groww

Shares of new-age broker Billionbrains Garage Venture (Groww) will be closely watched after the stock faced heavy selling

on Wednesday, hitting a 10% lower circuit within the first hour of trade. The stock had rallied nearly 90% from its IPO price since listing. Analysts attribute the fall to stretched valuations and rally fatigue.

Infosys

Infosys will open its Rs 18,000 crore share buyback on November 20, with the window closing on November 26. Approved by shareholders on November 6, the buyback allows the repurchase of up to 10 crore fully paid-up equity shares at Rs 1,800 each. Investors holding shares as of the record date, November 14, are eligible.

BPCL

LIC, one of India’s largest insurers and asset managers, has reduced its stake in Bharat Petroleum Corporation Ltd (BPCL) from 8.75% to 6.75%. The trimming comes even as BPCL reported strong September-quarter numbers on the back of higher refining margins and robust fuel demand.

HAL

A consortium of Hindustan Aeronautics Limited (HAL) and Larsen & Toubro has indigenously built the first PSLV rocket, set to launch the Oceansat satellite early next year, a senior L&T official told PTI. In 2022, ISRO had signed a contract with the consortium for end-to-end production of five PSLV-XL rockets.

Adani Enterprises

Adani Enterprises has received creditor approval for its Rs 14,535 crore offer to acquire insolvent Jaiprakash Associates, surpassing competing bids from Vedanta and Dalmia Bharat.

JK Tyre

JK Tyre’s unit, JK Tornel, will divest 40 lakh shares of Cavendish Industries to SMMS Trust for Rs 130.64 crore. Cavendish will continue to remain a subsidiary of the group.

SpiceJet

The Board has issued 83,34,091 equity shares—representing 0.55% of paid-up equity—at Rs 42.32 per share on a preferential basis to GASL Aviation Holdings. The allotment reflects the conversion of USD 4 million in outstanding dues owed to the aircraft lessor.

Reliance Industries

Reliance Consumer Products Ltd (RCPL), the FMCG arm of Reliance Industries, has entered the pet care segment with the launch of Waggies, a pet food brand offering affordable, scientifically formulated nutrition. It will offer two product lines—Waggies and Waggies Pro—priced at Rs 199 per kg and Rs 249 per kg, with trial packs priced at Rs 20.

NBCC India

NBCC has secured a project management consultancy contract worth Rs 2,966.10 crore from the Nagpur Metropolitan Region Development Authority for the Phase-1 development of Naveen Nagpur.

Reliance Power

Reliance Power has established a new management board aimed at improving governance and enhancing strategic oversight.

Dabur India

Dabur India has received partial relief after the Income Tax Appellate Tribunal annulled Rs 59 crore from an earlier tax demand. However, Rs 50.96 crore remains under dispute and is still pending before tax authorities.

NTPC Green Energy

The company has signed an MoU with The Singareni Collieries Company for the development of renewable energy projects.

Jyoti CNC Automation

Subsidiary Huron Graffenstanden SAS has commenced operations at a new production facility located within its existing site in France.

CG Power

CG Power and Industrial Solutions has received a tax assessment order of Rs 365 crore for FY 2018–19 following several additions by the Income Tax Department under various sections.

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