Stocks to Watch: Adani Green, Vodafone, Adani Ports, Paytm, IndiGo, ABB India

Here is the list of the top 10 stocks that will be in focus today:

Adani Green: Despite the turmoil in Adani Group, S&P Global has affirmed its rating on Adani Green Energy at 'BB+' with a stable outlook. Also, the American credit rating agency has removed the company from under-criteria observation. S&P expects the company's restricted group to help meet repayment obligations due to its strong reserving mechanism. Adani Green's restricted group 2 includes three entities namely Wardha Solar (Maharashtra), Kodangal Solar Park, and Adani Renewable Energy (RJ).

Vodafone Idea: Debt-ridden telecom operator Vodafone Idea's shareholders have approved the preferential issuance of up to ₹1,600 crore of optionally convertible debentures to vendor American Tower Corp (ATC), according to a regulatory filing. The special resolution to this effect was cleared at an Extra-ordinary General Meeting (EGM) of Vodafone Idea on Saturday. According to the voting results, overall 99.99 per cent of the votes were in favour of the resolution, which pertained to the issue of optionally convertible debentures of up to ₹1,600 crore to American Tower Corp.

Adani Ports: Gujarat CM Bhupendra Patel informed the State Assembly that the Gautam Adani group has sought 94,000 square metres of 'gauchar' (grazing land) and non-arable land from the state government in order to build a township and special economic zone. While responding to a query raised by Aam Aadmi Party's Jamjodhpur MLA Hemant Ahir, CM Patel, who handles the revenue portfolio, said the group had sought 93,900 square metres of land in Khodiyar village in Ahmedabad and Dantali village in Gandhinagar.

Edelweiss Financial Services: Edelweiss Financial Services on Friday received the shareholders’ approval for the proposed demerger of its wealth management business. This paves the way for the listing of Nuvama Wealth Management Limited (NWML). Earlier, the business was known as Edelweiss Wealth Management. Under the demerger plan, NWML will allot 1,05,28,746 equity shares having a face value of ₹10 each to the shareholders of Edelweiss Financial on a proportionate basis as consideration for the demerger.

One 97 Communications: Ant Group Co. is considering selling some of its shares in the operator of Indian financial technology firm Paytm to keep its holding within a required threshold, according to people familiar with the matter. The Chinese fintech giant has been discussing options to reduce its stake in One 97 Communications Ltd. after its share percentage increased passively due to share buybacks, the people said, requesting not to be identified because the matter is private.

InterGlobe Aviation: More than 50 planes of IndiGo and Go First are on the ground due to Pratt & Whitney engine woes amid persisting supply chain headwinds, forcing airlines to explore wet leasing of aircraft and other options to minimise disruptions, according to officials. The country's largest airline IndiGo is looking at various options, including slowing down redeliveries through lease extensions, exploring the re-induction of aircraft into the fleet, and evaluating the wet lease options within the regulatory guidelines.

Piramal Enterprises: With an aim to consider raising money up to ₹600 crore by issuing secured, rated, listed, redeemable, and non-convertible debentures, the Piramal Enterprises' administrative board of directors will hold a meeting on 1 March, the firm said in a stock filing report on 24 February. According to the company statement, during the meeting, the board will decide whether to consider and approve NCDs up to ₹100 crores along with an option to retain oversubscription up to ₹500 crores, the total size aggregating up to ₹600 crores, on a private placement basis.

ABB India: Electrification and automation company ABB India on Friday announced to invest ₹1,000 crore in the country in the next five years for capacity expansion, said a top company official. The company, which inaugurated a new facility in Nashik on Friday, will be investing the money in adding capacity across the country, said country head and managing director Sanjeev Sharma. He said that ABB India is planning to invest ₹1,000 crore in the next five years for capacity expansion.

Indian Energy Exchange: Indian Energy Exchange is set to launch the High Price Day Ahead Market segment by mid-March. This will facilitate electricity-generating firms to sell power at a price as high as ₹50 per unit. Earlier this month, the Central Electricity Regulatory Commission (CERC) allowed three categories of power generators to participate in the HP-DAM market which was gas-based generating stations using imported RLNG and naphtha, thermal plants using only imported coal, and Battery Energy Storage System (BESS) -- on the petition of IEX.

NTPC: State-owned power utility major NTPC Ltd has paid an interim dividend of ₹4,121.08 crore to its shareholders for the financial year 2022-23. The dividend paid is 42.50% of the paid-up equity share capital of the company, it said in a statement on Friday. “NTPC Ltd has paid an interim dividend of ₹4,121.08 crore today for the financial year 2022-23. This is the 30th consecutive year that NTPC Ltd has paid a dividend," it said.