GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Thursday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded higher as the index was up 71.50 points or 0.29% at 24,887 indicating a higher start for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. On Wednesday, the NSE Nifty 50 closed the session 71.35 points or 0.29% higher at 24,770.20, while the BSE Sensex rose 102.44 points or 0.13% to close at 80,905.30.
Stocks to watch on August 22, 2024
Zomato
Zomato’s board has approved the acquisition of One 97 Communications Ltd’s entertainment ticketing business (Paytm Insider) for a value of Rs 2048.4 crore in cash consideration.
Stocks To Watch: Trent, BEL, Ambuja Cement, Hero MotoCorp, ONGC, Alembic Pharma, Interarch Building Products Gift from parents exempt from tax HFCL: Advancing Indigenous Defence Technologies Alkem Laboratories Q1 Results: Total revenue up 2.2% y-o-y, net profit up 90%
Paytm
Paytm on Wednesday proposed to lower the salaries of its non-executive independent directors, as it looks to save costs amid widening losses. Paytm’s independent board members will earn a maximum annual compensation of up to Rs 48 lakh ($57,228), the company said in an exchange filing.
Rail Vikas Nigam
Rail Vikas Nigam (RVNL) signed a MoU with Dhaya Maju Infrastructure (Asia) Sdn Berhad (DMIA), it said in an exchange filing. RVNL and DMIA may collaborate to participate in railway infrastructure and services projects in the All South East Asian Nations (ASEAN) market as well as other markets after signing this MoU.
Zen Technologies
Zen Technologies has opened the Qualified Institutional Placement (QIP) and set the floor price at 1,685.18 per equity share. It is a discount of 6% to today’s closing price of Rs 1782.95 on the NSE.
Alkem Laboratories
A promoter of drug firm Alkem Laboratories is likely to sell a 0.7% stake in the company, equivalent to 8.5 lakh shares, through block deals, according to CNBC-TV18 sources. The floor price for the sale has been set at Rs 5,616 per share.
L&T Tech
Thales, a leading global technology and security provider, has announced a new contract with global engineering and R&D firm L&T Technology Services. The company will use the Thales Sentinel platform to help customers monetize their software with flexible licensing options.
Muthoot Capital Services
Muthoot Capital Services will hold a board meeting on August 24 to consider and approve the issuance of non-convertible debentures to raise up to Rs 50 crore on a private placement basis, the company said in an exchange filing.
BEML
BEML signed a strategic MoU with the Directorate of Marine Engineering, Indian Navy, to design, develop, make and extend product support of marine engineering equipment.
Trent
Trent is looking to position Star Bazaar, its supermarket and hypermarket chain, as its third growth driver after Zudio and Westside, informed sources have told FE. The plan is to accelerate store additions, drive affordability and push private labels aggressively under new head Neville Tata, who has taken up an executive position at Trent Hypermarket, the 50:50 joint venture between Trent and UK-based Tesco that runs Star Bazaar outlets in the country.
Kalyan Jewellers
Foreign investor Highdell Investment will sell a 2.36% stake in Kalyan Jewellers to the firm’s promoter for Rs 1,300 crore, said the company in an exchange filing.