Stocks To Watch: Reliance Industries, NHPC, P&G Health, Aeroflex Industries, Vascon Engineers, SJS Enterprises
Here are the stocks to watch before going into trade today.
Shares in Asia were poised to advance after U.S. stocks rallied and Treasury yields retreated following lackluster economic reports that support the case for the Federal Reserve to pause interest rate hikes.
Equity futures for Japan, Australia and Hong Kong all rose Thursday, echoing a rally in U.S. equities. The S&P 500 closed 1.1% higher, its best day since June, while the Nasdaq 100 rose 1.6%. Those gains were compounded in early Asia trading as futures contracts for the two benchmarks jumped on bullish earnings from Nvidia Corp.
Meanwhile, Brent crude was trading above $83 a barrel and West Texas Intermediate was below $79-mark. The yield on the 10-year U.S. bond was trading at 4.19% and Bitcoin was below 27,000-level.
At 5:33 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was up 58 points or 0.30% at 19,488.5.
India's benchmark stock indices erased early volatility to end higher for the third session on Wednesday. While Nifty Bank reclaimed the 44,500 mark intraday, banking stocks led the advances. Fast-moving consumer goods and the energy sector were under pressure. Sensex recovered to close above the 65,400 level, whereas Nifty ended beyond the 19,400 mark.
Overseas investors became net buyers of Indian equities on Wednesday after a four-day streak of selling. Foreign portfolio investors bought stocks worth Rs 614.32 crore, and domestic institutional investors remained net buyers and mopped up equities worth Rs 125.03 crore.
The local currency strengthened 25 paise to close at Rs 82.68 against the U.S. dollar on Wednesday. It strengthened the most in a single day since June 14, when the rupee appreciated 27 paise at close.
Stocks To Watch
Reliance Industries: Qatar Investment Authority to invest Rs 8,278 crore (0.99% stake) in Reliance Retail Ventures at a pre-money equity value of Rs 8.278 lakh crore via a wholly-owned subsidiary.
NHPC: The company signed an MoU with Andhra Pradesh Power Generation Corporation for renewable energy projects in the state. The MoU allows parties to form a JV to implement techno-commercially viable pumped storage hydro power projects and other renewable energy projects allotted by the state.
Procter & Gamble Health: For the quarter ended June (Q4FY23), the FMCG company reported a revenue of Rs 301.18 crore, up 1.78% year-on-year, while its net profit was down 27.6% at Rs 29.82 crore. The board recommended a dividend of Rs 50 per share for the financial year ended June 30, 2023.
SJS Enterprises: Promoter Evergraph Holdings sold 29.53% stake in the open market, reducing its stake to 4.63%.
Borosil: Its subsidary Klass Pack has executed a share purchase agreement to acquire an additional 4.56% in Goel Scientific for Rs 91.12 lakh. This follows KPL's 90.17% acquisition of Goel Scientific for which the acquisition price has been agreed at Rs 21.5 crore. KPL's stake increases to 94.73%.
Redtape: Promoter Yasmin Mirza has acquired by way of gift 15.96% from Shahid Ahmad Mirza, 16.03% from Tauseef Ahmad Mirza and 14.11% from Tasneef Ahmad Mirza. Yasmin's stake increased to 50.27% from 4.18%, while other three promoters' stake reduced to nil.
Vascon Engineers: The company received an order worth Rs 605.65 crore from Bihar Medical Services and Infrastructure Corporation for construction of Lohia Medical College and Hospital including hospital and residential building in Supau.
Avantel: The company has received a purchase order worth of Rs 13.30 crore from Bharat Electronics for supply of PA modules.
Paramount Communications: The board has approved to acquire a 100% stake in Valens Technologies for Rs 1.97 crore. The deal gives PCL a strong position in the telecom business while also adding market and product diversity in terms of water pipeline business.
PNB Housing Finance: ICRA revised rating outlook on NCDs and Tier II bonds to 'Positive' from 'Stable'.
IPO Offerings
Aeroflex Industries: The IPO has been subscribed 21.10 times on day two. The bids were led by non-institutional investors, subscribed 46.42 times, retail investors, subscribed 17.78 times, reserved portion shareholders, subscribed 11.46 times and institutional investors, subscribed 8.05 times.
Vishnu Prakash R Punglia: The Rs 309-crore IPO will open for subscription on Thursday. The issue price is Rs 94-99 apiece. The IPO comprises a fresh issue of 3.12 crore equity shares with no offer-for-sale component. Investors can bid for a minimum of 150 equity shares and in multiples of 150 equity shares thereafter. It has raised Rs 92 crore from anchor investors.
Bulk Deals
Shriram Properties: Omega TC Sabre Holdings sold 12.8 lakh shares (0.7%) at Rs 83.58 apiece.
Atul Auto: Societe Generale bought 1.4 lakh shares (0.6%) at Rs 409.54 apiece.
Gensol Engineering: Basant Traders - Prakash Satyanarayan Jalan bought one lakh shares (0.8%) at Rs 1,749.99 apiece.
Insider Trades
Sterling and Wilson Renewable Energy: Promoter Khurshed Yazdi Daruvala sold 20 lakh shares on Aug. 18.
Advanced Enzyme Technologies: Promoter Advanced Vital Enzymes sold 17,000 shares between Aug. 18 and 21.
TVS Holdings: Promoter TVS Holdings sold 5.28 crore shares on Aug. 18.
AGMs Today
Bharti Airtel, Bharat Heavy Electricals, Fine Organic Industries, Heranba Industries, Hindustan Zinc, IG Petrochemicals, InterGlobe Aviation, IndusInd Bank, India Pesticides, JB Chemicals & Pharmaceuticals, J&K Bank, JK Lakshmi Cement, Vedant Fashions, Mahanagar Gas, Relaxo Footwears, South Indian Bank, V-Guard Industries, Wonderla Holidays.
Who's Meeting Whom
Sheela Foam: To meet investors and analysts from Aug. 31 to Sept. 1.
Trading Tweaks
Price Band Revised From 10% To 5%: 63 Moons Technologies.
Price Band Revised From 20% To 10%: Ksolves India.
Price Band Revised From 20% To 5%: TVS Holdings.
Ex-date Dividend: AGI Greenpac, Andrew Yule & Company, Hindustan Aeronautics, RailTel Corporation of India, Monte Carlo Fashions, Mayur Uniquoters, HEG.
Ex-date Interim Dividend: Satia Industries.
Ex-date AGM: AGI Greenpac, Mayur Uniquoters, HEG, 5Paisa Capital, Hindustan Aeronautics, IIFL Securities, Monte Carlo Fashions.
Ex-date Demerger: TVS Holdings.
Record-date Dividend: Andrew Yule & Company, Hindustan Aeronautics, RailTel Corporation of India.
Record-date Interim Dividend: Satia Industries.
Record-date Demerger: TVS Holdings.
Move Out Of Short-Term ASM Framework: Bajaj Hindusthan Sugar.
F&O Cues
Nifty August futures ended at 19,431.90, a premium of 45.60 points.
Nifty August futures fell 2.59%, with 5,194 shares in open interest.
Nifty Bank August futures ended at 44,550.00, a premium of 461.95 points.
Nifty Bank August futures rose 0.04% with 44 shares in open interest.
Securities in the ban period: Bharat Heavy Electricals, Indiabulls Housing Finance, Delta Corp, India Cements, Gujarat Narmada Valley Fertilizers and Chemicals, Hindustan Copper, Punjab National Bank, Sun TV, Manappuram Finance, Metropolis Healthcare, Escorts Kubota.
