Stocks to Watch on March 28: Jio Financial Services, Force Motors, HAL, JSPL and more

1 / 15

Jio Financial Services | The company said it has invested ₹1,000.24 crore in its wholly-owned subsidiary, Jio Finance Limited (JFL), through a subscription of 1,73,77,412 equity shares at ₹10 each. The capital infusion will support JFL’s business operations. Also, Jio Financial Services has invested ₹85 crore in Jio Payments Bank Limited (JPBL) by subscribing to 8.5 crore equity shares at ₹10 each.

2 / 15

Force Motors | Automaker said it has won a major contract to supply 2,978 Force Gurkha light vehicles (GS 4X4 800 kg Soft Top) to the Indian defence forces. The order was placed by the Directorate General of Capability Development (CD-13/14), General Staff Branch, IHQ of the MoD (Army), New Delhi. Force Motors has been selected as the L1 vendor for this procurement, and deliveries will be executed in multiple tranches over a maximum period of three years.

3 / 15

JSPL | The company has won the Saradhapur Jalatap East coal block in the latest commercial coal auctions conducted by the Ministry of Coal. The mine, which holds an estimated 3,257 million tonnes of coal, is located just 11 km from JSPL’s Angul steel plant, making it a strategic addition to the company’s resource base. JSPL secured the block with a revenue-sharing bid of 10%.

4 / 15

Asian Paints | The company said it has approved an additional capital expenditure of ₹690 crore for its upcoming manufacturing facility in Dahej, Gujarat. This raises the total project cost to ₹3,250 crore, up from the initially estimated ₹2,560 crore. Also, it has announced key leadership changes in its senior management, effective April 21, 2025.

5 / 15

HAL | Leading defence PSU said it has amended the contract for the light combat aircraft (LCA) Mk1 final operational clearance (FOC) variant, originally signed on December 23, 2010. The revised contract value has increased from ₹5,989.39 crore to ₹6,542.20 crore due to changes in the delivery schedule.

6 / 15

HCLTech | IT services company said it has been selected as a Design Solution Partner (DSP) under Samsung’s Advanced Foundry Ecosystem (SAFE) program. This partnership aims to accelerate semiconductor innovation and development by leveraging HCLTech’s expertise in engineering and R&D services.

7 / 15

Infosys | IT major has implemented a cloud-based digital platform to unify and automate HR processes for LKQ Europe, a major distributor of automotive aftermarket parts, as part of a five-year collaboration. The initiative, powered by Infosys Cobalt, integrates HR functions across 18 countries, improving compliance, cost efficiency, and productivity.

8 / 15

Piramal Enterprises | Non-bank lender said it has approved the issuance of secured, rated, listed, redeemable, non-convertible debentures (NCDs) on a private placement basis, with a base issue size of ₹100 crore and a green shoe option to retain oversubscription of up to ₹200 crore, taking the total issue size to ₹300 crore.

9 / 15

UCO Bank | State-owned bank said it has successfully closed its Qualified Institutions Placement (QIP), with the issue price set at ₹34.27 per share, including a premium of ₹24.27 over the face value of ₹10. The final price reflects a 4.99% discount to the floor price of ₹36.07.

10 / 15

UltraTech Cement | Aditya Birla Group's flagship company said it has commissioned multiple brownfield expansions across India, further strengthening its production capacity. The company has operationalised a 3.35 million tonnes per annum (mtpa) clinker capacity along with one of two cement mills (2.7 mtpa) at its Maihar unit in Madhya Pradesh. The second grinding mill is expected to be commissioned in Q1 FY26.

11 / 15

Samvardhana Motherson | The company has sought to allay investor concerns after its shares tumbled amid fears of Donald Trump’s proposed 25% tariff on foreign car imports. The company stated that a significant part of its US business is either locally manufactured or qualifies under the US-Mexico-Canada Agreement (USMCA), reducing exposure to potential tariff hikes.

12 / 15

Bharat Electronics | State-run company said it has received additional orders worth ₹1,385 crore since its last disclosure on March 12, 2025. These orders cover radar spares, radar upgradation, electronic voting machines, simulators, advanced land navigation systems, stabilisers for tanks, fire control systems for ship-based decoys, and communication equipment, among others.

13 / 15

CG Power | The company announced that the Adjudicating Authority in New Delhi has extended the freeze on a new bank account opened by the company. This follows an application filed by the Directorate of Enforcement (ED) under the Prevention of Money Laundering Act (PMLA), 2002. The ED had initially frozen the account on October 17, 2024.

14 / 15

Bharat Forge | The company has finalised a contract with the Ministry of Defence (MoD) to supply 184 units of the 155mm/52-calibre advanced towed artillery gun system (ATAGS). Valued at approximately ₹4,140 crore, this deal accounts for 60% of the total ₹6,900 crore procurement for this artillery system and stands as the largest domestic defence contract secured by the company.

15 / 15

DLF | Gurugram-based real estate giant has outlined an aggressive financial strategy, targeting a zero-debt position in its development business, while projecting a ₹25,000-crore cash surplus from existing launched projects. DLF aims to double its profit after tax (PAT) and cash flow over the next five years, backed by a robust land bank and a diversified business model.