Stocks to watch: RBL Bank, IEX, ASK Automotive, Paytm among shares to remain in focus today

Here’s a quick look at stocks likely to be in focus in today’s trade.

RBL Bank

GST authorities conducted searches at three RBL Bank offices in Maharashtra. The proceedings are still underway, and the bank is fully cooperating by providing the requested data. Meanwhile, the bank has appointed Narendra Agrawal as President & Head of Branch Banking and Retail Liabilities, while T.S. Pari has been named Chief Operations Officer.

ASK Automotive

The company has entered into a technical assistance and licensing agreement with Japan’s Kyushu Yanagawa Seiki Co. (KYSK) for the production of cast wheels, specifically high-pressure die-cast alloy wheels for two-wheelers.

CEAT

The company has obtained the Certificate of Incorporation for its Sri Lankan subsidiary, CEAT OHT Lanka (Private) Limited.

Paytm

The Enforcement Directorate stated that it has issued a notice to Paytm’s parent company, its Managing Director, and associated entities for alleged violations of the Foreign Exchange Management Act (FEMA) related to transactions amounting to ₹611 crore.

REC

REC will review and consider revising its market borrowing program for FY25 on March 7.

Godrej Properties

On March 3, the company terminated its agreement with TCM (formerly Travancore Chemical & Manufacturing Co.) for developing a land parcel in Thrikkakara, Kochi. The agreement was originally signed on February 15, 2008. The cancellation will have no significant impact on the company’s financials, operations, or other business activities.

Indian Energy Exchange (IEX)

In February, the traded electricity volume saw a 9% year-on-year increase, reaching 9,622 million units (MU). The market clearing price in the Day-Ahead Market (DAM) stood at ₹4.38 per unit, reflecting an 11% decline compared to the previous year. Meanwhile, the DAM volume grew by 14% YoY to 5,369 MU, while the real-time electricity market (RTM) volume surged by 23% YoY to 2,887 MU.

UCO Bank

REC is set to review a potential revision in its market borrowing program for FY25 on March 7.

ITC

Wells Fargo, a financial services company, has offloaded ITC shares valued at ₹106 crore through an open market transaction.

Intellect Design

Central 1 Credit Union (Central 1) and Intellect Design Arena Inc., Canada (Intellect) have finalized all required steps for their operating partnership agreement, under which Intellect will take over Central 1’s digital banking operations. As part of this transition, Central 1 has successfully transferred digital banking services for more than 170 credit unions and banks to Intellect Canada.

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