Vedanta, UPL, Chalet Hotels, ABB India and more: Top stocks to watch out for on March 3

SUMMARY

Stocks in news today, March 3: Indian shares look set for a positive start, tracking a mixed set of trends. The Singapore Exchange-traded Nifty50 futures rose 0.3 percent to 16,674 as of 6:33 am on Thursday, indicating a positive start for Dalal Street. Shares of Vedanta, UPL, Chalet Hotels, ABB India, Mukand, Hind Rectifiers, Swan Energy and more will be closely watched. Here are top stocks to watch out for in trade today:

By CNBCTV18.comMar 3, 2022 7:00:28 AM IST (Updated)

Vedanta | The mining giant will pay a third interim dividend of Rs 13 per share for 2021-22 (Apr-Mar) amounting to Rs 4,832 crore. The record date for the purpose of payment of the dividend is March 10.

UPL | The company's board of directors approved share buyback at up to Rs 875 per share. UPL will spend up to Rs 1,100 crore on buy back of up to 1.26 crore shares through open market route.

Swan Energy | The firm said the board on March 5 will consider fundraising of up to Rs 2,000 crore.

Tantia Constructions | The company has bagged a Rs 42.2 crore contract from South Eastern Railway for the construction of a major bridge between Basta and Rupsa.

Hind Rectifiers | The electrical equipment manufacturer has received orders worth Rs 57.32 crore in February 2022.

Valiant Communications | Investor Duane Park acquired 1.21 percent equity shares in the company through open market transactions. With this, its shareholding in the company stands at 10.35 percent now, against 9.14 percent earlier.

ABB India | The company completed the sale of its turbocharger business to Turbocharging Industries and Services India, as a going concern, on a slump sale basis to its wholly-owned subsidiary for Rs 310 crore. In January this year, it had incorporated a wholly-owned subsidiary - Turbocharging Industries and Services India.

Mukand | The stainless steel company has sold its land in Thane for Rs 806.14 crore. It has executed an agreement for the sale of said land of 47 acres.

KPI Global Infrastructure | The company has commissioned new capacity of 1.72 MW in its existing solar power plant at Village-Sudi & Tancha, Ta-Arnod, Bharuch.

Chalet Hotels | Apart from its current portfolio of seven owned and operational hotels in Mumbai, Hyderabad, Bengaluru, and Pune, the company has identified National Capital Region, Chennai, and Goa as markets for leisure hotels to build or acquire new properties. The strategic intent of the firm is to diversify across geographies, asset classes and hospitality segments, as per a report.