Stocks in news: REC, Paytm, Coforge, RBL Bank, ASK Automotive, CEAT, Sunteck Realty & IEX

Indian benchmark indices staged a smart recovery from day's lows but settled lower on Monday to extend weakness. BSE Sensex fell 112.16 points, or 0.15 per cent, to end at 73,085.94. NSE's Nifty50 shed just 5.40 points, or 0.02 per cent, to settle at 22,119.30. Here are the stocks that may remain under spotlight before the opening bell on Tuesday, March 04, 2025:

Corporate actions today: Shares of Coastal Corporation and Mangalam Global Enterprises shall trade ex-split today. Units of Capital Infra Trust will trade ex-dividend/ex-income distribution.

REC: The state-run NBFCs board will meet on March 7 to consider the proposal for a revision in the market borrowing program of the company for the financial year 2024-25.

One97 Communications: The Enforcement Directorate said it has issued a notice to Paytm's parent company, its MD and linked entities for 'contravention' of the Foreign Exchange Management Act (FEMA) involving Rs 611 crore.
 

Coforge: The company board of the IT solutions provider shall meet later today to consider the proposal for issue subdivision/stock split of its equity shares.

Godrej Properties: The real estate company cancelled the agreement with TCM (formerly known as Travancore Chemical & Manufacturing ) for the development of a land parcel in Thrikkakara, Kochi. It had entered into the agreement on February 15, 2008. There is no material impact of the cancellation of the agreement on the financials, operations, or other activities.

Indian Energy Exchange: The electricity traded volume in February increased by 9 per cent YoY to 9,622 million units (MU). The market clearing price in the day ahead market (DAM) at Rs 4.38 per unit in February declined by 11 per cent YoY. The real-time electricity market (RTM) volume rose by 23 per cent YoY to 2,887 MU.

ASK Automotive: The auto ancillary company has signed a technical assistance and license agreement for cast wheel production with Kyushu Yanagawa Seiki Co, Japan (KYSK) for manufacturing high-pressure die-casted alloy wheels for two-wheelers.

RBL Bank: The GST authorities initiated a search at three offices of the private lender in Maharashtra. The proceedings are ongoing, and the bank is cooperating fully in providing data as per the request made. The bank has appointed Narendra Agrawal as President & Head of Branch Banking and Retail Liabilities business, and TS Pari as Chief Operations Officer.

CEAT: The tyre maker has received the Certificate of Incorporation for its subsidiary in Sri Lanka, namely CEAT OHT Lanka (Private) Limited.

Sunteck Realty: The real estate player has incorporated its wholly owned subsidiary, Eximius Buildcon (EBPL). The Ministry of Corporate Affairs has issued a Certificate of Incorporation for the same.

Intellect Design Arena: The IT solutions provider and Central 1 Credit Union (Central 1) announced the completion of all necessary closing activities for the operating partnership agreement in which Intellect will assume responsibility for Central 1’s digital banking operations.

Xchanging Solutions: The Board has appointed Swaminathan Swaminathan as Managing Director and Chief Executive Officer of the company for 3 years, effective March 4. This was after Nachiket Vibhakar Sukhtankar resigned from the position of Managing Director and Chief Executive Officer of the company, effective March 3.

Newjaisa Technologies: Amazon India is considering shutting down its refurbished product category across all product lines in India, effective at the end of March 2025. Given Newjaisa's presence on the Amazon marketplace, this development, if implemented, is expected to have an impact on its business in the short term.

Wendt India: The company board has approved a proposal for incorporating a wholly owned subsidiary in Germany to further its business prospects in Europe.