Top stocks to watch: RIL, Power Grid, DRL, Welspun Corp, M&M, Raymond, L&T, Ola Electric & PFC

Indian benchmark indices settled with big gains on Friday, extending their gains for another trading session, on the back of rate-cuts expectations, reduced selling from FIIs and fall in the dollar index. BSE Sensex surged 557.45 points, or 0.73 per cent, to end at 76,905.51. NSE's Nifty50 rallied points, or 159.75 per cent, or 0.69 per cent, to settle at 23,350.40. Here are the stocks that may remain under spotlight before the opening bell on Monday, March 24, 2025:

Corporate actions today: Shares of Bodhi Tree Multimedia will trade ex-rights, while shares of Enbee Trade & Finance Will trade ex-bonus today.

Reliance Industries: The leading conglomerate's step-down wholly owned subsidiary, Nauyaan Tradings (NTPL), has completed the acquisition of a 74 per cent equity stake in Nauyaan Shipyard (NSPL) for Rs 382.73 crore from Welspun Corp. NSPL has become a step-down subsidiary of the company.

Mahindra and Mahindra: The auto major announced that it would hike prices of its SUVs and commercial vehicles by up to 3 percent from April 1. The extent of the price increase will vary across different SUVs and commercial vehicles. This adjustment is in response to rising costs due to inflation and increased commodity prices.

Dr Reddy’s Laboratories: The company’s US-based subsidiary has completed the sale of all issued and outstanding membership interests in its wholly owned subsidiary, Dr. Reddy’s Laboratories Louisiana LLC, including the manufacturing facility located in Shreveport, Louisiana. Dr Reddy’s Laboratories Louisiana LLC ceased to be a step-down wholly owned subsidiary of Dr Reddy’s Labs.

Apollo Hospitals Enterprise: The hospital chain's subsidiary, Apollo Healthco, has completed the acquisition of an 11.2 per cent stake in Keimed from its promoter, Shobana Kamineni, for Rs 625.43 crore.

Larsen & Toubro: The engineering major's board has approved long-term borrowings of up to Rs 12,000 crore, including through external commercial borrowings, term loans, non-convertible debentures, or any other instrument. The Board has elevated Subramanian Sarma to Deputy MD & President, effective April 2.

Power Grid Corporation: The state-run power player has acquired SPVs Fatehgarh II and Barmer I PS Transmission and Chitradurga Bellary REZ Transmission, from the bid process coordinator, PFC Consulting, for Rs 26.57 crore. The project under Fatehgarh II and Barmer I PS Transmission includes ICT augmentation works at existing and under-construction substations in Rajasthan.

Power Finance Corporation: The state-run power NBFC's subsidiary, PFC Consulting, has incorporated two special purpose vehicles (SPVs) - NES Dharashiv Transmission and NES Navi Mumbai Transmission.

Welspun Corp: The metal pipe maker company has received Rs 476.39 crore after completing the transaction with a strategic investor for a 74 per cent equity stake in its wholly-owned subsidiary, Nauyaan Shipyard (NSPL). Following this transaction, NSPL has ceased to be a subsidiary of the company and has become an associate.

NCC: The construction company has received a letter of acceptance (LoA) for a project worth Rs 1,480.34 crore from Bihar Medical Services & Infrastructure Corporation. The project involves the redevelopment of a medical college and hospital, along with other buildings at the existing campus of Darbhanga Medical College & Hospital (DMCH) in Laheriasarai, Darbhanga.

Raymond: The company board has approved an investment of up to Rs 65 crore in the form of redeemable preference shares, in one or more tranches, in Ten X Realty East, a step-down wholly owned subsidiary of the company. The amount will be utilized for the execution of a redevelopment project by Ten X.

Godrej Properties: The real estate company has acquired a 10-acre land parcel in Yelahanka, Bengaluru. This project is estimated to have a developable potential of 1.5 million square feet of saleable area, with an estimated revenue potential of Rs 2,500 crore.

IRCON International: Conarch Associates has initiated a Rs 158.89 crore claim against the railway player in the Arbitral Tribunal. This claim pertains to the work of supplying and stacking 50mm size Pakur Variety Machine Crushed Track Ballast for the new BG line from Jaynagar (India) to Bardibas (Nepal) railway project (Nepal portion).

Alembic Pharmaceuticals: The USFDA has completed the inspection of the company's API-III facility at Karakhadi, with no Form 483 observations. This was a scheduled GMP inspection, conducted from March 17 to March 21.

Ola Electric Mobility: The EV company has commenced deliveries of its S1 Gen 3 scooter portfolio across India. The Gen 3 range starts at Rs 79,999 for the S1 X (2kWh) and goes up to Rs 1,69,999 for the S1 Pro+ 5.3kWh (with 4680 Bharat Cell).

NMDC: The Federation of Unions has asked its members to resume full duties. Accordingly, the employees have resumed duties, and normal operations have resumed at all the projects. Trade unions had resorted to a wilful slowdown of work and work-to-rule in connection with a wage settlement on January 10.

DAM Capital Advisors: The financial services player has received an administrative warning and deficiency letter from SEBI, which advised DAM Capital to be vigilant in the future concerning certain operational-related matters of its institutional broking operations. SEBI issued the warning letter following an inspection conducted for the period from February 1 to August 31, 2024.

UCO Bank: The state-run lender has opened its qualified institutions placement (QIP) issue with a total size of Rs 2,000 crore, suggest some media reports. The QIP price may be Rs 34.27 per share.

Allied Blenders and Distillers: The alcohol maker has added 15 lakh bulk liters of capacity at its Rangapur plant in Telangana. This is in addition to the licensed production capacity of 600 lakh bulk liters for FY25.

Sundaram-Clayton: The company board has declared an interim dividend of Rs 4.75 per share for the financial year 2024-25.