Stocks To Watch: Reliance Industries, Jio, LIC, GlaxoSmithKline Pharma, PNB, Sula Vineyards, Nykaa

Stocks in Asia were mixed after a muted session on Wall Street as traders await Friday’s jobs reading to gauge the outlook for Federal Reserve policy.

Shares declined in Australia while those for Japan edged higher. Earlier data showed that Japanese businesses cut their spending for the first time in five quarters, an outcome that may prompt a downward revision to second-quarter economic growth data.

Meanwhile, Brent crude was trading above $86 a barrel and West Texas Intermediate was above $83-mark. The yield on the 10-year U.S. bond was trading at 4.11% and Bitcoin was below 26,000-level.

At 7:00 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was down 15 points or 0.08% at 19,424.

India's benchmark stock indices opened higher and swung between gains and losses to finally end lower in trade on Thursday. Banks dragged the indices down after Fitch revised the credit ratings for a few lenders, and fast-moving consumer goods were also under pressure.

Only IT, real estate, and consumer durables were trading marginally higher as the Sensex closed below the 64,900 level and the Nifty slipped below the 19,300 mark. Broader markets outperformed as the Nifty Midcap 100 and Smallcap 100 hit record highs intraday.

Overseas investors remained net sellers of Indian equities on Thursday. Foreign portfolio investors offloaded stocks worth Rs 2,973.1 crore, and domestic institutional investors remained net buyers and mopped up equities worth Rs 4,382.8 crore.

The local currency weakened 6 paise to close at Rs 82.79 against the U.S. dollar on Thursday.

Reliance Industries: The company's media unit Viacom 18 bagged both TV and digital rights of the Indian cricket team's home series for the next five years with a cumulative bid of approximately Rs 6000 crore, beating Star India and Sony in a three-way battle. The rights will come into effect with India's three-match home series against Australia beginning Sept. 22 and end on March 31, 2028.

Jio Financial Services: The scrip will be removed from S&P BSE indices before trading starts on Sept. 1.

Auto stocks: To be in focus as automakers will announce the wholesale figures for the month of August.

LIC: Mini Ipe has ceased to be the MD and Gajraj Singh Gill has ceased to be the Executive Director (Senior Business Associate) with effect from Aug. 31 upon superannuation.

CONCOR: Sanjay Swarup to be appointed as Chairman and Managing Director with effect from Oct. 1.

GlaxoSmithKline Pharma: The Assistant Commissioner of State Tax Maharashtra initiated search at certain premises of the company on Thursday. The officials are extending its full cooperation and responding to the queries raised by them, it said.

Aditya Birla Fashion and Retail: The company said that it has completed the acquisition of a 29% stake in TCNS Clothing pursuant to the open offer. It also plans to raise Rs 750 crore on or after Sept. 4 through bonds on a private placement basis.

Punjab National Bank: The bank has raised lending rates by 5 bps across tenures effective from Sept. 1.

Genus Power Infrastructure: The company’s step-down wholly owned subsidiary has bagged a Rs 2,247.37 crore order for 24.18 lakh smart meters, including its design, supply, installation and commissioning. The total order book now stands at around Rs 11,000 crore.

ITD Cementation: The company bagged marine contract worth Rs 3,290 crore excluding GST.

Sula Vineyards: Verlinvest Asia Pte sold a 12.6% stake in Sula Vineyards Ltd. for Rs 513.17 crore on Thursday. HDFC Mutual Fund, through its three funds, bought a combined 35.2 lakh shares, or a 4.2% stake. Other buyers include Morgan Stanley Asia (1.6%), Societe Generale (0.8%), and Ghisallo Master Fund (0.6%).

Shakti Pumps: The company received order from Haryana Renewable Energy Department for supply, installation and commissioning of solar water pumping systems. The order will be executed within 120 days period from the date of issue of work order.

Nykaa: The company invested Rs 3.97 crore in its international arm FSN International by acquiring 39.78 lakh shares of Rs 10 each on rights basis for providing long term funds.

India Pesticides: The company acquired 11,461.00 sqm of land adjacent to its existing Sandila plant in UP to set up pesticide manufacturing unit. The cost of acquisition is Rs 9.61 crore.

Navneet Education: The board approved composite scheme of arrangement for amalgamation of Genext Students and demerging of Edtech business of Navneet Futuretech into Navneet Education.

Rishabh Instruments: The IPO was subscribed 2.46 times on its second day. The bids were led by non-institutional investors, subscribed 4.65 times, retail investors, subscribed 2.79 times and institutional investors, subscribed 0.22 times or 22%. The IPO was subscribed 73% on day one.

Sula Vineyards: Verlinvest Asia sold 1.06 crore shares 12.6% at Rs 484.13 apiece while HDFC Mutual Fund through its three funds bought a combined 35.2 lakh shares (4.2%), Morgan Stanley Asia bought 13.1 lakh shares (1.6%), Societe Generale bought 6.5 lakh shares (0.8%) and Ghisallo Master Fund bought 4.8 lakh shares (0.6%) at Rs 484 apiece.

ACC: BNP Paribas Arbitrage bought 22.9 lakh shares (1.2%) at Rs 2,006.73 apiece.

Ashok Leyland: BNP Paribas Arbitrage sold 6.03 crore shares (2%) at Rs 183.83 apiece.

Supreme Industries: BNP Paribas Arbitrage sold 27 lakh shares (2.1%) at Rs 4,438.13 apiece.

REC: BNP Paribas Arbitrage sold 4.2 crore shares (1.6%) at Rs 238.91 apiece.

Astral: BNP Paribas Arbitrage sold 48 lakh shares (1.8%) at Rs 1,952.76 apiece.

Power Finance Corporation: BNP Paribas Arbitrage sold 3.97 crore shares (1.5%) at Rs 260.93 apiece and Windacre Partnership Master Fund sold 3.43 crore shares (1.3%) at Rs 261.44 apiece.

Prudent Corporate Advisory Services: TA FDI Investors sold 37.37 lakh shares (9%) at Rs 1,125.07 apiece and Mansi Share and Stock Advisors sold 3.36 lakh shares (0.8%) at Rs 1,096.02 apiece. DSP Mutual Fund bought 20 lakh shares (4.8%), India Arcon ICAV bought 3.98 lakh shares (1%) and Abu Dhabi Investment Authority bought 3.36 lakh shares (0.8%) at Rs 1,125 apiece.

Cummins India: BNP Paribas Arbitrage sold 53.36 lakh shares (1.9%) at Rs 1,707.52 apiece.

Neuland Laboratories: BNP Paribas Arbitrage sold 64,893 shares (0.5%) at Rs 3,871.31 apiece.

HDFC AMC: BNP Paribas Arbitrage sold 32.8 lakh shares (1.5%) at Rs 2,515.4 apiece.

IDFC First Bank: BNP Paribas Arbitrage sold 11.22 crore shares (1.7%) at Rs 93.04 apiece and Copthall Mauritius Investment sold 3.35 crore shares (0.5%) at Rs 93 apiece.

Kesoram Industries: Euston Industries sold 25.2 lakh shares (0.8%) at Rs 89.69 apiece.

Orient Green Power (RE): LIC sold 47.4 lakh shares (2%) at Rs 2.78 apiece.

Medplus Health Services: Lavender Rose Investment and PI Opportunities Fund I sold 70 lakh shares (5.9%) each at Rs 861.68 and Rs 861.93 respectively. Nippon India MF bought 39.8 lakh shares (3.3%) at Rs 862 apiece, Government of Singapore bought 14.4 lakh shares (1.2%) at Rs 862 apiece, Fidelity Fund bought 14 lakh shares (1.2%) at Rs 856.79 apiece and Steadview Capital Mauritius bought 9.6 lakh shares (0.8%) at Rs 862 apiece.

Atul Auto: Promoters Prafullaben Jayantibhai Chandra sold 1.63 lakh shares, Harishkumar Jagjivan Chandra sold 1.05 lakh shares, Ushaben Dharmendrabhai Chandra sold 1.2 lakh shares and Manishaben Atulkumar Chandra sold 71,691 shares on Aug. 25.

DB Realty: Promoter Shravan Kumar Bali sold 30,000 shares on Aug. 28.

Advanced Enzyme Technologies: Promoter Advanced Vital Enzymes sold 95,000 shares between Aug. 28 and 30.

Shoppers Stop: Promoters Cape Trading bought 48,858 shares between Aug. 28 and 30, Ravi C Raheja bought 73,026 shares between Aug. 28 and 29 and Anbee Constructions bought 50,000 shares on Aug. 28.

Capri Global Capital, Deepak Fertilisers & Petrochemicals, Godfrey Phillips India, Gulf Oil Lubricants India, JK Paper, KEI Industries, VST Tillers Tractors.

Aarti Drugs: To meet investors and analysts on Sept. 6.

Home First Finance Company India: To meet investors and analysts on Sept. 5.

• Ex-date Dividend: Ganesh Housing Corporation, Vinati Organics, Shipping Corporation Of India, Themis Medicare, Triveni Engineering & Industries, NBCC (India), APL Apollo Tubes, Gujarat State Petronet, Vakrangee, Arvind Fashions, GNA Axles, PSP Projects, Ram Ratna Wires, Sansera Engineering, Metro Brands, Syrma SGS Technology, Gujarat Themis Biosyn.

• Ex-date AGM: Vinati Organics, Shipping Corporation Of India, Themis Medicare, Triveni Engineering & Industries, Bombay Dyeing, Hatsun Agro Product, Arvind Fashions, PSP Projects, Sansera Engineering, Syrma SGS Technology.

• Ex-date Bonus Issue: GNA Axles.

• Ex/Record-date Interim Dividend: Ujjivan Financial Services, Pearl Global Industries.

• Ex/Record date Stock Split: Remedium Lifecare.

• Record-date Dividend: Ganesh Housing Corporation, Triveni Engineering & Industries, NBCC (India), Gujarat State Petronet, Ram Ratna Wires, Metro Brands, Syrma SGS Technology.

• Move Into Short-Term ASM Framework: Hindustan Construction Company, Indiabulls Housing Finance, India Pesticides, S Chand and Company.

• Move Out Of Short-Term ASM Framework: Paisalo Digital, Universal Cables.

• Nifty August futures ended at 19,428.30, a discount of 17 points.  

• Nifty August futures rose 34.74%, with 52,023 shares in open interest.  

• Nifty Bank August futures ended at 44,359.55, a discount of 141.85 points.  

• Nifty Bank August futures rose 96.42% with 77,372 shares in open interest. 

Datamatics - Recent Correction Provides Good Entry Point: HDFC Securities

Max Healthcare - Impressive Track Record, Robust Outlook To Sustain Re-Rating: Motilal Oswal

Bharat Wire Ropes - Healthy Demand With Operational Efficiencies To Drive Growth: ICICI Direct

Manappuram Finance - Well-Entrenched Franchise, Attractive Valuations: ICICI Securities

IndiaMart - Business Outlook Remains Strong For FY24: Yes Securities

MPS - Liberate Acquisition Deepens e-Learning Capabilities, Presence: Dolat Capital