Domestic equities are expected to open in the green on Monday, August 26, amid positive global cues. Asian shares were trading higher in the morning amid expectations of rate cuts in the United States and Europe.
In the commodity market, oil prices climbed 0.7% after Israel and Hezbollah traded rocket salvos and air strikes on Sunday, stirring worries about possible supply disruptions if the conflict escalated, Reuters reported.
At 07:45 AM, the GIFT Nifty futures were trading 2.50 points lower at 24,915.5. This, as per publicly available information, implies that the NIFTY50 will open 62 points higher.
Here's a list of stocks that may remain in focus today.
Trent, Bharat Electronics (BEL), LTI Mindtree, and Divi's Labs: These shares are expected to be in focus today, given the rejig in the NIFTY50 index. Tata Group's
Trent and state-run BEL will be included in the Nifty 50 index, as per the announcement made by the exchange as part of its semi-annual rejig. These two stocks will replace Divi's Laboratories tech firm, LTIMindtree.
The changes will take effect on September 30, 2024, as per the NSE circular.
Transport Corporation of India: The company announced on Saturday, August 24, that it will conduct its first-ever buyback of its equity shares worth up to ₹160 crore.
In a meeting held on August 24, 2024, the company’s board approved the buyback of up to 13,33,333 equity shares at ₹1,200 per share on a proportionate basis through the tender offer route. The record date for this is September 4, 2024.
Ambuja Cements: US boutique investment firm GQG Partners Inc. was the largest buyer in a stake sale of
Ambuja Cements by an Adani-owned company on Friday. Adani-owned Holderind Investments, which had a nearly 51% stake in Ambuja Cements as of June-end, had offered a 2.8% stake worth $500 million.
ONGC: The company said on Saturday that ONGC marked a significant milestone by starting production from its fifth oil well in the Block KG-DWN-98/2 Cluster-2 asset. Leveraging the floating production, storage, and offloading (FPSO) vessel, ONGC has begun transporting and selling associated gas, all the while underscoring its commitment to achieving zero gas flaring.
Alembic Pharma:
Alembic Pharmaceuticals Limited (Alembic) on Saturday announced it has received final approval from the US Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Betamethasone Valerate Foam, 0.12%. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Luxiq Foam, 0.12%, of Norvium Bioscience, LLC (Norvium).
Ashoka Buildcon: The company said on Saturday, August 24, that it has emerged as the lowest bidder (L-1) for the Mumbai Metropolitan Region Development Authority Project.
JSW Energy: JSW Neo Energy Limited, a wholly-owned subsidiary of the company, has received a Letter of Award for setting up a 250 MW grid-connected wind power project from Adani Electricity Mumbai against a tariff-based competitive bid.
REC: REC Limited, the Maharatna PSU under the Ministry of Power and a leading NBFC, signed an MoU with the Jawaharlal Nehru Port Authority (JNPA) for financing up to ₹45,000 crore for various upcoming projects of JNPA, which include the development of Vadhavan Port.
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