Benchmark Sensex and Nifty indices are off to a weak start on Friday as global markets turned cautious ahead of US Federal Reserve Chairman Jerome Powell’s speech at the Jackson Hole Symposium. At 7:40 am, the GIFT Nifty futures were down 75 points at 19,320 against Thursday’s closing level.
Globally, US markets closed with losses overnight. The Dow Jones, NASDAQ Composite and S&P 500 indices declined more than 1 percent each.
Here are the stocks to watch today:
Paytm: Paytm promoter Antfin is likely to sell 3.6 per cent stake or 23 million shares in the fintech company through a block deal today. The floor price for the deal is likely to fetch a discount of Rs 880.10 per share, a discount of 2.7 per cent from the closing price of Rs 904.45 recorded on Thursday. Citigroup has been appointed as the broker for the deal, which is reportedly valued at around $234 million. Reading
Reliance Industries, EIHRIL and Oberoi Hotels & Resorts have entered into an agreement to jointly manage three properties in India and the UK. The properties include Anant Vilas in Mumbai, Stoke Park in the UK and a new project in Gujarat. Reading
Bharat Electronics: The Ministry of Defense has accorded ‘Requirement Approval’ for procurement and installation of Electronic Warfare Suite on Mi-17 V5 helicopters. The EW suite will be procured from BEL.
Vedanta: As per reports, an arbitration award has been given to the mining company which supports its position in the Rajasthan block case. The company’s argument revolves around the fact that, as per the terms of the production sharing contract for the Rajasthan block, it is under no obligation to pay Additional Profit Petroleum.
NTPC: The Company has received an order from the Competition Commission of India (CCI) imposing a fine of Rs.40 lakh under Section 6(2) read with Section 62(2A) of the Competition Act, 2003 for failure to file a notice with CCI Fine has been imposed. Completion of transaction in respect of acquisition of shares by NTPC in Ratnagiri Gas & Power Pvt. Ltd. Limited
Shoppers Stop: The company’s MD and CEO Venu Nair has resigned with effect from August 31 due to personal reasons. Homestop chief Kavinder Mishra has been promoted as executive director and CEO for a period of three years with effect from September 1.
DB Realty: The company sold its entire stake in Royal Netra construction unit to Man Infraconstruction and PlatinumCorp Construction for Rs 2.55 crore. Garden Reach: The company signed an MoU with Dempo Group, Goa, to initiate a collaboration model for construction of commercial vessels at its shipyards in Goa and Bhavnagar, Gujarat.
Astra Microwave Products: The company bagged orders worth Rs 158 crore from ISRO, DRDO and DPSUs for the supply of satellite sub-systems, airborne radar, radar sub-systems and EW projects.
Granules India: Drug maker receives approval from Brazilian Health Regulatory Agency (ANVISA) for compliance with Good Manufacturing Practices guidelines for its Bonthapalli API facility, Hyderabad and Foreign Drug Manufacturer recognition from Pharmaceuticals and Medical Devices Agency (PMDA), Japan Certificate received. Jeedimetla API Facility, Hyderabad.
Mankind Pharma: The Board approved the incorporation of Mankind Medicare, a wholly owned subsidiary, with an authorized capital of Rs.5 crore. The subsidiary will manufacture and produce a variety of pharmaceutical dosage forms and consumer health care products.
PL Industries: Bromine leakage from Bromine storage tank at Jambusar site in Gujarat was quickly contained and all workers are safe. It reported minor damage due to minor leakage.
KPI Green Energy: The company received the commissioning certificate from the Gujarat Energy Development Agency for the 4.10MW wind-solar hybrid power project at the Samoj site in Jambusar, Gujarat.
Aditya Birla Capital: Aditya Birla Sun Life AMC ceases to be a subsidiary of the company after the stake falls below 50 per cent.
Prakash Industries: The company got environment ministry’s approval for Bhaskarpara coal mine in Chhattisgarh, which will reduce costs and increase revenue through open market sale of coal.
SKF India: The company has acquired 26 per cent stake in Cleanmax Taiyo.
Kaynes Technology: The company signed an MoU with the Government of Karnataka for Rs 3,750 crore to set up a semiconductor assembly and test facility and printed circuit board manufacturing plant through its step-down subsidiaries.
GlaxoSmithKline Pharmaceuticals: The drugmaker has reported contingent liabilities of Rs 350 crore on account of ongoing litigation.
Sirma SGS Technology: The company has appointed Satendra Singh as CEO with immediate effect.
eCurrency: The board has given approval to raise Rs 250 crore through any means.
Monte Carlo Fashion: The company increased its investment in its wholly owned subsidiary Monte Carlo Home Textiles by Rs 2 crore to Rs 15.7 crore.
ADF Foods: The company has fixed September 11 as the record date for the stock split in the ratio of 5:1.