Market News
Stocks to watch on August 28: LTIMindtree, UPL, Tata Technologies, Jio Financial Services, Wipro
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3 min read | Updated on August 28, 2024, 09:43 IST
SUMMARY
Jio Financial Services (JFS) has increased its stake in Jio Payments Bank to 82.17% for ₹68 crore, as per an exchange filing.
Stock list
Sensex ended flat on Tuesday, August 27.
At 07:53 AM, the GIFT Nifty futures were trading 15 points, or 0.06% lower at 24,997.50, indicating a muted start to trading on Wednesday, August 28.
Here is a list of stocks that may remain in focus today.
Indus Towers, Bharti Airtel: Indus Towers has become the subsidiary of Bharti Airtel. Airtel's shareholding in the company has crossed 50%.
UPL Ltd: As per news reports, UPL Global (UGL), a step-down subsidiary of UPL Corporation (a subsidiary of the company), has completed the acquisition of a 20% stake in PT Excel Meg Indo, Indonesia (PT Excel). PT Excel is engaged in the business of buying, importing, and distributing agrochemicals, seeds, fumigants, and fertilisers in Indonesia.
PT Excel is a subsidiary of UGL.
Jio Financial Services: Jio Financial Services (JFS) has increased its stake in Jio Payments Bank to 82.17% for ₹68 crore, as per an exchange filing.
Tata Tech: TPG on Tuesday, August 27, divested a 3% stake in Tata Technologies for ₹1,230 crore through an open market transaction. TPG, through its investment arm TPG Rise Climate SF, offloaded over 1.2 crore shares, or 2.99% stake, in Tata Tech at an average price of ₹1,014.16 crore, according to the bulk deal data available on the BSE.
NBCC: The company will consider issuing bonus shares to its shareholders in the upcoming meeting on August 31.
PNC Infratech: The company said in its exchange filing that it has been declared Ll (First Lowest) bidder in a highway cum bridge project namely "Construction of additional 3-Lane Bridge over River Canga for connection between Buxar and Bharauli on NH-922 in the State of Uttar Pradesh and Bihar on Hybrid Annuity Model (HAN[)" for a bid project cost of ₹380 crore.
ALSO READ | Trade Setup for August 28
Godrej Agrovet: The company announced on Tuesday, August 27, that Godrej Agrovet has completed the acquisition of 49% of the equity share capital of Godrej Tyson Foods from Tyson India Holdings.
SBI Card: Dinesh Khara, Chairman of the Board and Non-executive Director (nominated by the State Bank of India), has tendered his resignation from the directorship of the company with effect from the close of business today, i.e., August 27, 2024, consequent upon the completion of his term as the Chairman of the State Bank of India.
Aditya Birla Capital: The company has made an investment of ₹300 crore on a rights basis in the equity shares of Aditya Birla Housing Finance (ABHFL).
Carysil: The company said that Carysil UK Limited (a wholly-owned subsidiary) of Carysil has agreed to acquire the remaining 30% equity shares of Carysil Brassware (formerly known as “The Tap Factory Limited”), based in Yorkshire, UK.
LTIMindtree: The IT services company on Tuesday, August 27, said the Karnataka High Court has issued an interim stay on a ₹378-crore GST demand order.
Wipro: The technology services and consulting company on Tuesday, August 27, announced it was expanding its collaboration with Dell Technologies to bring the Dell AI Factory to Wipro’s Enterprise AI-Ready Platform.
The collaboration will allow enhanced cost control and risk mitigation while providing enterprises with access to the best-in-class technology, accelerating the adoption of AI across cloud, data centre, and edge environments.
ICICI Prudential Life Insurance: The insurance company has received a tax demand of ₹429.05 crore from the Deputy Commissioner of State Tax, Maharashtra.
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