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Stocks To Keep An Eye On: Oil India, Bharat Forge, Ashok Leyland, Angel One, Tata Elxsi, & More

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<p>Forge and Oil India are two of the top companies that are probably going to be the subject of attention and market movements.</p>
<p><img decoding=”async” class=”alignnone wp-image-437634″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-stocks-to-keep-an-eye-on-oil-india-bharat-forge-ashok-leyland-angel-one-tata-elxsi.jpg” alt=”theindiaprint.com stocks to keep an eye on oil india bharat forge ashok leyland angel one tata” width=”1076″ height=”606″ title=”Stocks To Keep An Eye On: Oil India, Bharat Forge, Ashok Leyland, Angel One, Tata Elxsi, & More 9″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-stocks-to-keep-an-eye-on-oil-india-bharat-forge-ashok-leyland-angel-one-tata-elxsi.jpg 600w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-stocks-to-keep-an-eye-on-oil-india-bharat-forge-ashok-leyland-angel-one-tata-elxsi-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-stocks-to-keep-an-eye-on-oil-india-bharat-forge-ashok-leyland-angel-one-tata-elxsi-150×85.jpg 150w” sizes=”(max-width: 1076px) 100vw, 1076px” /></p>
<p><strong>Baroda Bank</strong><br />
The Bank of Baroda (Bank) announced that it has generated Rs. 2,500 crores via the issuance of Basel III-compliant Tier II Bonds, Series XXVI. Because of the strong response from investors, the bank priced the offer at a highly competitive rate of 7.57% p.a. The spreads on government securities (G-Sec) also decreased. These bonds provide a five-year call option with a ten-year duration from the presumed date of allocation. They are taxable, redeemable, non-convertible, listed, rated, and unsecured.</p>
<p><strong>India Oil </strong><br />
On February 22, 2024, at OIL’s Corporate Office in Noida, the public sector enterprise Fertilizers and Chemicals Travancore Limited (FACT) and OIL signed a Memorandum of Understanding (MoU). Investigating opportunities in the field of green hydrogen, including green ammonia, green methanol, and other derivatives, as well as cooperating on decarbonization projects like carbon dioxide sequestration and other potential pathways for decarbonization, clean energy transition, green fuels, renewable energy, etc., are the goals of the agreement.</p>
<p><strong>Bank of Jana Small Finance </strong><br />
Jana Small Finance Bank announces its greatest 9M PAT ever for December 2023, up 99% to Rs 348 crores. The bank’s 9MFY24 revenue increases by 28% year over year. Net interest income increased from Rs 1,193 crore in 9MFY23 to Rs 1,536 crore in 9MFY24, a 28.8% YoY increase. At Rs 23,610 crore, loan AUM is now up 28.4% YoY. The total amount of deposits has increased by 36.5% YoY to Rs 20,785 crore. Profit after tax (PAT) increased from Rs 175 crore in 9MFY23 to Rs 348 crore in 9MFY24, a 99% YoY increase. The bank’s gross non-performing assets (GNPA) decreased from 5.8% to 2.1% as of December 31, 2023.</p>
<p>Bharat Forge Bharat Forge invested money in Bharat Forge Global Holding GmbH (BFGH), a fully-owned subsidiary of the business, on February 22, 2024. Afterwards, Bharat Forge Holding GmbH (BFH) will receive this sum from BFGH in order to invest it in Bharat Forge Aluminiumtechnik GmbH (BFAT), BFH’s wholly-owned subsidiary. The deal will need a capital reserve investment of 15 million euros, or INR 133.58 crores. The investment is expected to be completed by February 29, 2024. The business will maintain its 100% ownership stake in BFAT, BFH, and BFGH.</p>
<p><strong>Leyland, Ashok </strong><br />
The third millionth car made by Ashok Leyland is about to go into production. The event took place at its state-of-the-art manufacturing facility in Pantnagar, Uttarakhand.</p>
<p>Angel #1<br />
The company’s Board of Directors suggested raising money in one or more tranches by issuing equity shares with a face value of Rs. 10 or any other eligible securities, or a combination of them, for a maximum amount not to exceed Rs. 2000 crore through a combination of qualified institutions placement (QIP), preferential issue, further public offer, or other acceptable mode.</p>
<p><strong>The Tata Elxsi </strong><br />
AccuKnox and Tata Elxsi have announced a strategic alliance to provide operators 5G managed security services. Tata Elxsi announced a strategic partnership with Accuknox, the maker of the innovative cloud-native security system NIMBUS, via the NEURON product suite.</p>
<p><strong>Sona BLW Forgings with Precision </strong><br />
One of the company’s products, a hub wheel drive motor for electric two-wheelers, received certification from the Ministry of Heavy Industries on February 22, 2024, as part of the Production-Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry in India (PLI-Auto). The company became the first producer of automobile components to be certified under the Auto Production Linked Incentive (PLI) scheme.</p>


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