Stocks to Watch on February 21: NTPC Green Energy, Tata Steel, Gamco, JM Financial and more

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NTPC Green Energy | The green energy arm of NTPC has signed a memorandum of understanding (MoU) with Bharat Light and Power to accelerate the achievement of their green energy objectives, including establishing infrastructure for green hydrogen. The MoU aims to explore the off-take of green hydrogen and its derivatives by third parties.

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Gamco Ltd | The NBFC announced that its board of directors has approved a bonus issue of five additional shares for every four shares held by existing shareholders. The stock dividend will be distributed to shareholders of record on a date to be determined, subject to customary regulatory approvals.

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Narayana Hrudayalaya | The private hospital network has laid the foundation stone for its 1,100-bed hospital project, 'Narayana Health City,' in Kolkata. The company plans to invest approximately ₹900 crore in the first phase of the hospital, aiming to enhance its healthcare infrastructure in the region. The new facility will bolster Narayana Hrudayalaya's presence in Eastern India.

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Tata Steel has acquired 191 crore equity shares of T Steel Holdings Pte for approximately $300 million (around ₹2,603.16 crore). Following this acquisition, T Steel will remain a wholly owned subsidiary of Tata Steel. The acquisition is part of the company’s strategy to strengthen its global presence and expand its portfolio in the steel sector.

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JM Financial | The investment banking firm announced that it has received an order from the Deputy Commissioner of Income Tax, Government of India, on February 19, 2025, regarding the assessment year 2008-09. The order, issued under Section 254 read with Section 143(3) of the Income-tax Act, 1961, confirms that the company will receive a refund of ₹230 crore, including interest.

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ITI Ltd | This PSU has received the initial tranche of ₹100 crore from C-DoT for land at Electronic City, Bangalore. In a related development, the AMRCD has ordered the company to transfer 22.258 acres of land in Bangalore to C-DoT for ₹200 crore. The transaction is part of an ongoing agreement between the two entities.

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Kotak Mahindra Bank | The private lender has appointed Vyomesh Kapasi as the new Head of Products for its Consumer Bank division. Additionally, the bank has named Shahrukh Todiwala as the new Managing Director and CEO of Kotak Mahindra Prime Limited (KMPL). These leadership changes are part of the bank’s ongoing efforts to strengthen its executive team and drive growth in key business segments.

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HG Infra Engineering | The company has completed the sale of its entire 100% equity stake in Rewari Bypass Private Ltd to Highways Infrastructure Trust for a total consideration of ₹133.03 crore. The transaction, first announced in May 2023, was executed on February 20, 2025, following shareholder approval at the company's 22nd AGM in August 2024.

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Oil and Natural Gas Corporation | ONGC is targeting a 60% increase in production from Mumbai High through a strategic partnership with BP, Chairman & MD Arun Kumar Singh told CNBC-TV18 at India Energy Week 2025. He highlighted BP’s technical expertise in managing mature reservoirs, which ONGC aims to leverage for a substantial — not incremental — rise in output.

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ACE | The Ministry of Defence (MoD) has signed contracts worth ₹697.35 crore with Action Construction Equipment Ltd (ACE) and JCB India Ltd for the procurement of 1,868 Rough Terrain Fork Lift Trucks (RTFLTs). The contracts, signed in the presence of Defence Secretary R K Singh, aim to strengthen the logistics and operational efficiency of the Indian Army, Air Force, and Navy. The RTFLTs will be manufactured under the Buy (Indian) category, strengthening India’s defence production ecosystem.