Adani Group stocks, HPCL, Happiest Minds, MOIL stocks in focus

Adani Group stocks, HPCL, Happiest Minds, MOIL stocks in focus

Domestic equity benchmarks may open higher on Friday amid positive sentiment in the global markets. The Nifty futures on the Singapore Exchange were trading 104 pts or 0.60% higher at 17,459.50 in the early morning trade. Asian markets were trading in green and US market ended the overnight session broadly higher.

“Global markets turned back to selling mode with the US 10-year bond yield crossing 4% as a fresh set of US data suggested that inflation will remain elevated for a longer period. Rising bond yields are driving foreign money out of emerging markets, and as a result, FIIs were net sellers in the domestic market for the sixth consecutive day. Mid- and small-cap stocks continued to show resilience with mild selling compared to their larger peers,” said Vinod Nair, Head of Research at Geojit Financial Services.

Adani Enterprises

SB Adani Family Trust sold 3.87 crore shares in Adani Enterprises via open market transactions, at an average price of Rs 1,410.86 per share, amounting to more than Rs 5,460 crore. While GQG Partners Emerging Markets Equity Fund acquired 90.22 lakh equity shares and Goldman Sachs Trust II-Goldman Sachs GQG Partners International Opportunities Fund bought 1.51 crore shares at an average price of Rs 1,408.25 per share, which were total worth over Rs 3,403 crore.

Adani Ports and Special Economic Zone

Promoter entity SB Adani Family Trust sold 8.86 crore equity shares in the logistics company via open market transactions, at an average price of Rs 596.2 per share, amounting to Rs 5,282.33 crore. However, Goldman Sachs Trust II-Goldman Sachs GQG Partners International Opportunities Fund purchased 3.87 crore shares, and GQG Partners Emerging Markets Equity Fund bought 2.04 crore shares in Adani Ports, at the same average price, which were worth more than Rs 3,527.7 crore.

Adani Transmission

Promoter entity SB Adani Family Trust offloaded 2.84 crore equity shares in the power transmission company via open market transactions, at an average price of Rs 668.4 per share, amounting to Rs 1,898.25 crore. However, Goldman Sachs Trust II-Goldman Sachs GQG Partners International Opportunities Fund acquired 82.15 lakh shares and GQG Partners Emerging Markets Equity Fund purchased 88.92 lakh shares in the company at the same average price, which were worth Rs 1,143.5 crore.

Mahindra & Mahindra Financial Services

The company evaluated the total disbursement of approximately Rs 4,185 crore for February 2023, a 53% growth over February 2022. The loan book in February 2023 grew further by 1.5% over January 2023.

Happiest Minds Technologies

The company’s board has approved the fundraising of Rs 125 crore via the issue of 12,500 non-convertible debentures on a private placement basis in the domestic market in three tranches.

Hindustan Petroleum Corporation

The company has raised Rs 1,650 crore via non-convertible taxable debentures on a private placement basis.

MOIL

The company announced the production of 1.31 lakh tonnes of manganese ore in February 2023, a 10% growth over the same period last year. Manganese ore sales at 1.32 lakh tonnes during the month increased by 19% on-year.