Domestic markets continued their upward trend on Wednesday, gaining nearly half a percent. Several stocks are expected to be in focus today due to various news developments.
Stocks in Focus Today
- DCM Shriram:
- The company has commissioned a new Hydrogen Peroxide plant in Gujarat with a capacity of 52,500 TPA. (Positive)
- BEML:
- BEML has partnered with the Indian Navy to develop advanced marine applications for defense. (Positive)
- HUDCO:
- HUDCO signed a Memorandum of Understanding (MoU) with Yamuna Expressway Industrial Development Authority in New Delhi. (Positive)
- Rail Vikas Nigam Limited:
- The company signed an MoU with Dhaya Maju Infrastructure (Asia) Sdn Berhad. (Positive)
- Kilburn Engineering:
- Kilburn Engineering plans to acquire Monga Strayfield for Rs 1.23 billion. (Positive)
- Welspun Enterprises:
- Welspun’s subsidiary received an order worth Rs 160 crore from BMC for sewer rehabilitation in the city using trenchless technology. (Positive)
- Azad Engineering:
- The company is working on manufacturing critical parts for Rolls-Royce defense aircraft. (Positive)
- Indoco:
- Indoco plans to launch a new product in the U.S. and is eligible for 180 days of competitive generic therapy exclusivity. (Positive)
- Shriram Properties:
- Shriram Properties aims to triple revenue to Rs 3,000 crore and double sale bookings to Rs 5,000 crore by FY27. (Positive)
- Spandana:
- SEBI approved the settlement on July 25, and payment was confirmed on August 9. (Positive)
- Paytm:
- Zomato is set to acquire Paytm’s entertainment ticketing business for ₹2,048 crore. (Positive)
- Cyient DLM:
- Morgan Stanley Asia Singapore and Aditya Birla SunLife MF acquired stakes in Cyient DLM after the promoter offloaded shares worth Rs 879 crore. (Positive)
- Embassy Office Parks REIT:
- Embassy REIT signed an agreement to provide 8 lakh square feet of prime office space in Bengaluru to the Commonwealth Bank of Australia. (Positive)
- PNB Housing:
- Major buyers of offloaded shares include the Singapore government and Aditya Birla SunLife MF. (Positive)
- Awfis Space:
- The company launched two new centers in Bengaluru with a total built-up area of 66,846 sq ft. (Positive)
- L&T Tech:
- L&T Tech extended its collaboration with Paris-based Thales for software monetization solutions. (Positive)
- Aarti Drugs:
- The company is set to consider its sixth share buyback since 2016 on August 26. (Positive)
- E2E Networks:
- The board approved fundraising via a preferential issue worth over ₹420 crore. (Positive)
- GMR Airports:
- GMR signed a license pact for the Delhi Duty-Free Concession and will take up operations from July 28, 2025. (Positive)
- IREDA:
- The company is considering raising funds up to Rs 4,500 crore through QIP or other means. (Neutral)
- Kalyan Jewellers:
- High Dell plans to sell a 2.36% stake to Kalyan Jewellers’ promoter Trikkur Sitarama Iyer for Rs 1,300 crore. (Neutral)
- P&G Health:
- The company’s net profit stood at Rs 16.8 crore compared to Rs 29.8 crore, with revenue at Rs 283.9 crore compared to Rs 301.2 crore YoY. (Neutral)
- Sun Pharma:
- Sun Pharma entered into an agreement with Pharmazz Inc. and will invest up to $15 million. (Neutral)
- Alkem Laboratories:
- A promoter is likely to sell a 0.7% stake (8.5 lakh shares) via block deals, with the floor price set at Rs 5,616. (Neutral)
- Muthoot Capital:
- The company will consider raising up to ₹50 crore through non-convertible debentures on August 24. (Neutral)
- India Grid Trust:
- Esoteric II Pte plans to sell a 17.32% stake via an Offer For Sale (OFS) from August 22-23, 2024, with a floor price set at Rs 132 per share. (Neutral)
- PNB:
- The government extended Kalyan Kumar’s term as Executive Director for two more years. (Neutral)
- ONGC:
- ONGC approved the buyback of compulsorily convertible debentures worth Rs 7,778 crore issued by OPaL. (Neutral)
- HDFC Bank:
- A penalty of Rs. 3.22 crore was imposed on HDFC Bank by the Commercial Tax Officer in Chandigarh. (Neutral)
- Zen Technologies:
- Zen Technologies launched an ₹800 crore QIP, with the price set at ₹1,601 per share. (Neutral)
- GE Power India:
- Managing Director Prashant Jain stepped down from the company. (Negative)
