Stocks to watch, August 28: Ather Energy, Wipro, Hero MotoCorp, Lenskart, Dixon Tech, Foseco India

The domestic stock market is expected to open lower on Friday, August 28. The GIFT NIFTY futures suggest that the NIFTY50 index will open 32 points lower.

The floor price for the offer has been set at ₹630 per share, a 1.7% discount to Lenskart’s previous closing price. The stake sale represents around 1.2% of the company’s existing equity. Alpha Wave Ventures II held a 1.2% stake in Lenskart as of the quarter ended June.

The acquisition, which will be funded in cash, is expected to be completed by September 3, 2026.

This move further strengthens Hero MotoCorp’s exposure to the fast-growing electric two-wheeler segment, with Ather reporting a turnover of ₹3,671.76 crore in FY26, up from ₹2,255 crore in FY25.

Additionally, Wipro is scaling the internal deployment of Gemini Enterprise and will empower over 10,000 AI-certified specialists, including 1,500 Forward Deployed Engineers (FDEs), with advanced AI capabilities to enhance productivity, streamline operations, and accelerate decision-making.

NSE block deal data showed that private equity major Warburg Pincus divested a 4.25% stake in Apollo Tyres for ₹1,175 crore through open market transactions on Thursday.

US-based Warburg Pincus, through its arm Emerald Sage Investment Ltd, sold a total of 2,70,10,000 shares, representing a 4.25% stake in Gurugram-based Apollo Tyres, according to block deal data on the National Stock Exchange (NSE).

The shares were disposed of at an average price of ₹435 apiece, bringing the transaction value to ₹1,174.93 crore.

After the latest transaction, Emerald Sage Investment's holding in Apollo Tyres has come down to 5.68% from 9.93%.

The proposed partnership will focus on manufacturing railway wheels, wheelsets, axles and related rail components for Indian Railways and global markets.

The domestic telecom gear maker has received a Letter of Intent (LoI) from TCS for the supply of RAN equipment, accessories and installation materials. The order covers 18,685 sites for BSNL’s 4G mobile network and is valued at ₹1,537 crore.

“The detailed Purchase Order for the same would be issued by TCS to the company in due course,” Tejas Networks said in a regulatory filing.

By the end of Q1 FY27, the company’s order book stood at ₹1,529 crore. Tejas Networks’ closing order book in Q1 comprised 93% from India and 7% from international markets.

Worth ₹454.50 crore, the company received a Letter of Empanelment (LOE) from a leading state government-owned power distribution utility for grid-connected rooftop solar photovoltaic projects. Under the empanelment, GK Energy has been allocated 1 kW rooftop solar capacity to be installed across 1 lakh households, with a combined capacity of 100 MW.

As part of the project scope, GK Energy will undertake design, engineering, supply, installation, testing and commissioning of the rooftop solar systems, along with O&M for a period of five years. The projects are expected to be completed within 60 days from the issuance of the respective work orders.

Prudential, through its subsidiary Prudential Corporation Holdings Ltd, sold 98,85,169 shares, representing a 1.99% stake in Mumbai-based ICICI Prudential AMC, according to bulk deal data on the BSE.

The shares were disposed of at an average price of ₹3,065.47 apiece, taking the transaction value to ₹3,030.27 crore.

After the latest transaction, Prudential Corporation Holdings will retain a 32.6% stake in ICICI Prudential Asset Management Company Ltd.

The combined holding of promoters and promoter group entities in ICICI Prudential AMC declined to 85.61% from 87.60%.

Details of the buyers of ICICI AMC's shares could not be identified on the BSE.

Morgan Advanced Materials, through its two affiliates, Morganite Crucible Ltd and Morgan Terrassen BV, sold a total of 11,50,800 shares, amounting to a combined 15.26% stake in Pune-based Foseco India, as per block deal data on the NSE.

The shares were disposed of at an average price of ₹5,897 per share, bringing the deal value to ₹678.62 crore.

Meanwhile, a bunch of domestic and foreign institutional investors stepped in to buy the shares of Foseco India at the same price.

Mutual Funds managed by LIC, Motilal Oswal, Invesco, SBI, Mahindra Manulife and Mirae Asset have bought the shares.

The move is aimed at reviving slowing handset demand and preventing the tax from becoming a drag on India’s electronics manufacturing ambitions.

The proposal is expected to be discussed at the Council’s meeting, which is likely to be held next month.