The benchmark indices, SENSEX and NIFTY, are expected to see a positive start on Thursday, August 22, amid strong global cues.
US stocks ended higher on Wednesday amid range-bound trading after investors parsed a steep downward revision in payrolls and the release of the minutes from the most recent meeting of the Federal Reserve, which cemented expectations for a September rate cut.
At 07:44 AM, the GIFT Nifty futures traded 0.08% lower at 24,874 levels.
Here is a list of stocks that may remain in focus today.
Zomato, Paytm: Online food delivery platform Zomato will acquire Paytm's entertainment ticketing business for ₹2,048 crore to strengthen its "going-out" segment in a deal that will help the troubled fintech firm sharpen its focus on core payments and financial services distribution.
Paytm's entertainment ticketing business covers movies, sports, and events (live performances).
READ MOREDelhivery: Venture capital firm Nexus Ventures Partners on Wednesday sold 1.06% shares in Delhivery for over ₹344 crore through an open market transaction. US-based Nexus Ventures Partners, through its affiliate Nexus Ventures III, sold more than 78 lakh shares, or 1.06%, of Delhivery through a bulk deal on the National Stock Exchange (NSE).
Aarti Drugs: The company on Wednesday said its board will meet on August 26 to consider the proposal of buyback of the fully paid-up equity shares of ₹10/- each of the company.
Zen Technologies:
Zen Technologies on Wednesday (August 21) launched a qualified institutional placement (QIP) with an issue size of ₹800 crore, which may be scaled up to ₹1,000 crore, according to a report by
CNBC-TV18.
BEML: The company, via its exchange filing on Wednesday, August 21, said it has entered into a memorandum of understanding (MoU) with Malaysia’s largest rolling stock manufacturer, SMH Rail. Besides, the company signed a strategic memorandum of understanding (MoU) with the Directorate of Marine Engineering, Indian Navy.
IREDA: The company will issue a follow-on public offering (FPO) of ₹4,500 crore. The public sector non-banking financial company (NBFC) will convene a meeting of the board of directors on August 29 to get approval for the same, it informed the exchanges.
India Grid Trust: As per news reports, the sponsor, Esoteric II, will sell a 17.32% stake in India Grid Trust via an offer for sale (OFS) from August 22–23, 2024. The floor price has been set at ₹132/share.
RVNL: The company said it has signed a MoU with M/s Dhaya Maju Infrastructure (Asia) Sdn Berhad (DMIA). “The primary objective of this MOU is to outline the terms and conditions under which RVNL and DMIA may collaborate to work jointly to participate in the railway infrastructure and services projects in the ASEAN market and other markets as agreed, with a special focus on establishing a manufacturing base in Malaysia for railway coaches and other railway products for catering to the
growing needs of ASEAN countries," the railway company said.
Amber Enterprises: The company said that AT Railway Sub Systems, a wholly-owned subsidiary of Sidwal Refrigeration Industries, [the wholly owned material subsidiary of the company, i.e., Amber Enterprises, along with Yujin Machinery Ltd., a South Korea-based company, has incorporated a joint venture company (‘JVC’) in India on August 20, 2024, namely “Yujin Machinery India."
The JV has been created to carry on the business of manufacturing all types of driving gear, couplers, pantographs, and brakes for various rolling stocks, including all types of wagons, trams, Vande Bharat trains, Indian Railways products, high-speed, and metro trains, regional rapid transit systems, in India or such other places agreed between the Joint Venture Partners. (“Business”).
Hindustan Zinc: The company on Wednesday, August 21, signed a memorandum of understanding (MoU) with the Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR), a premier institute sponsored by the Department of Science and Technology, Government of India. This collaboration aims to develop new variants of zinc materials to propel the commercialisation of zinc-based batteries.
ONGC: The company, in its meeting, approved the following:
i) Payment of balance call money of ₹86.281 crore (@₹0.25 per warrant) with respect to share warrants subscribed by the Company and conversion of said warrants into equity shares; and
ii) Buy-back of Compulsorily Convertible Debentures (CCDs) issued of ₹7,778 crore in 3 tranches by OPaL from financial institutions, banks, mutual funds, and other holders on or before the put, call, or buy option dates of the respective tranche(s) and conversion of said CCDs into equity shares.
OPal stands for ONGC Petro additions.
ONGC added that it holds an equity stake of 49.36% in the share capital of OPaL. In addition, the conversion of “warrants into equity shares” would enhance the equity stake to 81.28%, and the subsequent “conversion of CCDs into equity shares” would further enhance the equity stake to 92.27% in the diluted share capital of OPaL.
Embassy Office Parks REIT: It has leased ~1.4 million square feet, including expansion options, to Commonwealth Bank of Australia (“CBA”) at Embassy Manyata in Bengaluru.
Kalyan Jewellers: Highdell Investment will sell a 2.36% stake in Kalyan Jewellers to the firm's promoter for ₹1,300 crore.
"Highdell will be selling 2.42 crore equity shares to the promoter Trikkur Sitarama Iyer for a purchase price of ₹535 per share, aggregating to ₹1,300 crore," said Kalyan Jewellers in a stock exchange filing.
"Post-transaction, the ‘promoter’ and ‘promoter group’ shareholdings in the company will increase from 60.59% to 62.95%," the company added.
Dhanuka Agritech: The share buyback offer by Dhanuka Agritech will open today, and conclude on August 28, 2024. Dhanuka Agritech, one of India's leading agro-chemical companies, informed exchanges earlier that its board approved a buyback of its fully paid-up equity shares through the tender offer route in its meeting held on August 2, 2024.
Paras Defence & Space Technologies: The company has obtained an industrial license for establishing an industrial undertaking for the manufacturing of infrared or thermal imaging equipment: monoculars, binoculars, cameras, sights, and cooled cameras, uncooled cameras, and II tube-based sights, among others.
Procter & Gamble Health: The company on Thursday announced its financial results for the quarter and fiscal year ended June 30, 2024. The company, as per reports, posted sales of ₹277 crore, down 5% against the previous year, owing to changes in the go-to-market model.
The company reported a profit (before exceptional items and tax) of ₹43 crore for the quarter, down 3% vs a year ago. The exceptional items include impairment charges amounting to ₹20 crore.
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