SUMMARY
Stocks to watch: Dalal Street is set to open Wednesday for the third consecutive day in the red, charting weakness in global markets. SGX Nifty futures were down 0.3% or 51 points at 17,557. Shares of Adani Enterprises, HPCL, Power Finance Corporation, Future Enterprises among others will be in focus today. Here are the top stocks to watch in trading on August 24 –
1 / tenAdani Enterprises Ltd. | Adani Group’s media arm, AMG Media Networks Limited (AMNL), has announced that it will indirectly acquire a 29.18% stake in media giant New Delhi Television Ltd (NDTV). It would also launch an open offer of Rs 493 crore for another 26% stake in NDTV at Rs 294 per share. The acquisition of 29.18% of the capital will be indirect, as it will be carried out through Vishvapradhan Commercial Pvt Ltd (VCPL), a 100% subsidiary of AMNL, which is owned by Adani Enterprises Ltd (AEL).
2 / tenHindustan Petroleum Corporation Limited | The state-owned company launched on Tuesday, under the GOBAR-Dhan program, its first project to convert cow dung into compressed biogas in Sanchore, Rajasthan. The plant will use 100 tonnes of cow dung per day to produce biogas, which can then be used as automotive fuel.
3 / tenChennai Petroleum Corporation Ltd. | The subsidiary of Indian Oil Corporation Ltd, said on August 23 that its board of directors had approved the proposal for the establishment of a joint venture for the implementation of the refinery and the petrochemical complex. The Nine Million Tons Per Year (MTPA) Refinery Project at Cauvery Basin Refinery, Nagapattinam District, Tamil Nadu is being set up at an estimated investment of Rs 31,580 crore.
4 / tenTata Consultancy Services Ltd | India’s biggest software exporter on Tuesday denied media reports claiming the company had delayed variable pay for senior employees for the first quarter of the 2022-23 financial year.
5 / tenFuture Enterprises Ltd | The company has received notice from the National Company Law Tribunal (NCLT), Mumbai Bank, regarding the filing of a claim by an operational creditor, Retail Detailz, for an alleged default of Rs 4 crore.
6 / tenPower finance company ltd | The company has signed a memorandum of understanding for Rs 6,750 crore aid for 1,550 MW solar power projects in Maharashtra.
seven / tenAPL Apollo Tubes Ltd | The steel tube maker’s board in May this year had recommended a final dividend of Rs 3.50 per Rs 2 each share of the company for approval by shareholders. The company has set Monday, September 5, 2022 as the “record date” for determining members’ entitlement to the final dividend for the year ending March 31, 2022.
8 / tenUgro Capital Ltd | The company’s investment and borrowing committee is scheduled to meet Aug. 26 to approve raising funds through the issuance of non-convertible debentures.
9 / tenArvind SmartSpaces Ltd | The company and HDFC Capital Affordable Real Estate Fund will invest in the company’s wholly owned subsidiary, Arvind SmartHomes, for real estate projects. Arvind SmartSpaces will invest Rs 300 crore and HDFC Capital Advisors will invest Rs 600 crore in Arvind SmartHomes.
ten / tenCigniti Technologies Ltd. | PMK Holdings Private Ltd acquired an additional 1,50,802 shares of the company at an average price of Rs 597 per share.
