Stocks to Watch Today: UPL, IDFC First Bank, RailTel | February 23

Stocks to Watch Today on February 23 are driven by a major corporate restructuring in the agrochemical sector, a significant fraud disclosure in the banking space, large public sector infrastructure contracts, cybersecurity initiatives, and institutional stake changes. As the share market today opens for trading, investors are evaluating regulatory disclosures, restructuring plans, and operational updates across sectors including agriculture, banking, telecom, infrastructure, ports, and logistics.

Share Market News – Highlights

• Major Corporate Restructuring
• Banking & Financial Sector Updates
• Infrastructure & Government Contracts
• Technology & Cybersecurity Initiatives
• Ports & Renewable Energy Developments
• Regulatory & Legal Proceedings
• Bulk & Block Transactions
• Companies Announcing Results Today
• Market Context

Major Corporate Restructuring

UPL has approved a composite scheme of arrangement aimed at reorganising its crop protection businesses to create two separately listed entities. The restructuring plan involves consolidation of domestic and international crop protection operations and includes the amalgamation and demerger of certain subsidiaries within the group.

Post-implementation of the scheme, the existing listed entity will continue as UPL, while a newly structured crop protection platform, UPL Global Sustainable Agri Solutions, will be listed separately on stock exchanges. The objective of the restructuring, as disclosed by the company, is to create a focused and independent platform designed to streamline operations and unlock shareholder value.

Banking & Financial Sector Updates

IDFC First Bank disclosed unauthorized and fraudulent transactions amounting to approximately ₹590 crore at its Chandigarh branch involving Haryana government-linked accounts. The bank has suspended the concerned employees and appointed KPMG to conduct an independent forensic audit. Law enforcement authorities have also been informed. The bank clarified that investigations are ongoing.

ICICI Bank received an order in appeal from the Maharashtra GST Department affirming a tax demand of ₹50.38 crore, along with applicable penalties and interest. The bank has indicated its intention to pursue further legal remedies.

Life Insurance Corporation increased its shareholding in Cipla by 2.036 percent between late November 2025 and early February 2026, taking its total holding to 9.091 percent.

Infrastructure & Government Contracts

RailTel Corporation of India, in consortium with Ashoka Buildcon, received a Letter of Intent worth ₹1,136.18 crore for modernization of offices under the Inspector General of Registration (IGR) and Controller of Stamps, Government of Maharashtra.

Highway Infrastructure entered into agreements valued at ₹154.59 crore for toll operations at Moti Naroli Fee Plaza in Gujarat and ₹69.68 crore for road development works under Town Planning Scheme-08 in Indore.

NCC informed that it has filed a writ petition before the Delhi High Court challenging a debarment order issued by the National Highways Authority of India (NHAI). The court has kept the debarment order in abeyance until March 10, as per the company’s exchange filing.

Technology & Cybersecurity Initiatives

Bharti Airtel, in partnership with Zscaler Inc., announced the launch of the AI & Cyber Threat Research Center – India. The initiative aims to strengthen national cyber resilience and accelerate secure adoption of artificial intelligence across industries.

Ports & Renewable Energy Developments

Adani Ports and Special Economic Zone (APSEZ), through its subsidiary Adani Gangavaram Port, signed a Memorandum of Understanding with NMDC Ltd and Vale SA to develop an integrated iron ore blending facility and a dedicated Special Economic Zone at Gangavaram Port. The MoU was signed during the India-Brazil Business Forum Summit.

NTPC Green commenced commercial operations of its 158 MW solar project in Kadapa, increasing the group’s total operational renewable capacity to 9,151 MW.

Allcargo Terminals reported total cargo volumes of 63,400 TEUs in January, reflecting an 8 percent year-on-year increase, though volumes declined sequentially on a month-on-month basis.

Regulatory & Legal Proceedings

Cipla’s supply partner facility in Greece was classified as Official Action Indicated (OAI) by the USFDA following a cGMP inspection. The classification relates to the Rodopi facility of Pharmathen International, which supplies Lanreotide injection to Cipla USA.

Sudarshan Pharma Industries confirmed that the GST Department initiated inspection and search proceedings at its Mumbai office. The company stated that operations continued during the inspection and that it is responding to departmental queries.

Bulk & Block Transactions

Shankara Building Products witnessed stake acquisition by the Ballygunge Family Trust, which purchased shares representing 2.1 percent of paid-up equity. Concurrently, Marval Guru Fund reduced its holding.

MIC Electronics saw further stake reduction by promoter entity R R K Enterprise, which offloaded shares through market transactions.

Ganesh Benzoplast recorded block trades where Malabar India Fund divested shares, while Goel Seema acquired an equivalent stake at the same transaction price.

Companies Announcing Results Today

BF Utilities, PVP Ventures, Stovec Industries, and Kome-On Communication are scheduled to release quarterly earnings during today’s session.

Market Context

Multiple stocks including PI Industries are trading ex-dividend, while SAIL and Sammaan Capital remain in the F&O ban list as per exchange data.

The share market today is influenced by corporate restructuring announcements, banking disclosures, infrastructure order inflows, renewable energy developments, and regulatory updates.