Stocks to watch on March 18: Adani Group, LIC, Dr. Lal PathLabs and more
Major stocks to watch today (March 18) include Adani Group which is preparing for a significant increase in its planned investments for the fiscal year ending in March 2025.
It was reported that Adani Group plans to invest $14 billion across its diverse business portfolio, with focus on green and renewable energy. Moreover, it was reported that investigation into the Adani Group by US prosecutors has intensified who are scrutinizing whether an entity associated with Gautam Adani or individuals connected to the company were engaged in bribing for preferential treatment. Adani Group has said, “We are not privy to any investigation against our chairman. As a corporate group that adheres to the highest governance standards, we comply fully with anti-corruption and anti-bribery laws in India and other countries.”
Life Insurance Corporation of India (LIC) will be another stock in focus today after it disclosed that it has secured government’s approval for a wage revision for its employees. This will be implemented from August 1, 2022, according to a press release from LIC and will benefit over 110,000 employees throughout the organization.
Diagnostics company Dr. Lal PathLabs announced appointment of Shankha Banerjee as its new Chief Executive Officer (CEO) and Key Managerial Personnel which will take effect from May 21, 2024.
Zee Entertainment Enterprises, which is in the process of restructuring its operations following a failed merger with Sony, implemented changes in its technology and data sector as Nitin Mittal, who held the position of President, Technology and Data at Zee, resigned. In the interim, Amrit Thomas (Data Science), Kishore Krishnamurthy (Engineering), Bhushan Kolleri (Product), and Vishal Somani (Enterprise and Content Technology) will report to Amit Goenka, President – Digital Businesses & Platforms, the company said.
RailTel will be in focus today as well after it received an order worth ₹352 cr from BMC for supply, operations and maintenance of the health department of the corporation.
KPI Green, which emerged as the successful bidder for 100 MWAC solar power project at Maharashtra State Power Generation Co, will also be in focus today.