In today’s dynamic stock market, several companies are making headlines with significant announcements and developments. Here’s a comprehensive roundup of the top stocks to keep an eye on:
Defense and Aerospace
Hindustan Aeronautics Limited (HAL) has received a major boost with the Cabinet Committee on Security (CCS) approving the procurement of 240 AL-31FP aero-engines for the Indian Air Force’s Su-30 MKI aircraft. The deal, valued at Rs 26,000 crore, is expected to significantly impact HAL’s order book.
Mining and Metals
NMDC reported a 10% decrease in August production. Additionally, the Collector of Dantewada has proposed a penalty of Rs 1,620.5 crore, which could impact the company’s financials.
Vedanta has approved its 3rd interim dividend of Rs 20 per share for FY25, potentially attracting dividend-focused investors.
Financial Services
Bajaj Finance has announced the IPO of its subsidiary, Bajaj Housing Finance, priced at Rs 66-70 per share, implying a market cap of Rs 58,000 crore.
Muthoot Finance has received SEBI’s nod for the IPO of its subsidiary, Belstar Microfinance, signaling a potential expansion in the microfinance segment.
Sammaan Capital has issued an offer for pre-mature redemption of its NCDs maturing till December 31, 2024.
Tech and Services
Matrimony.com is set to consider a share buyback proposal in its September 5 board meeting.
Medi Assist is witnessing a significant sell-off, with Bessemer India planning to sell a stake worth Rs 541 crore via block deals, with a floor price of Rs 570 per share.
Energy and Infrastructure
Adani Green Energy has announced that TotalEnergies will invest $444 million to form a 50:50 joint venture with the company.
GR Infraprojects plans to divest its entire stake in its arm GAKHP to Bharat Highways InvIT.
Gensol Engineering’s joint venture has emerged as the lowest bidder for a biomass to green hydrogen project worth Rs 164 crore.
Indian Energy Exchange (IEX) arm has entered into an agreement to become a local issuer of Renewable Energy Certificates.
Manufacturing
Welspun Corp has approved an investment of approximately $100 million for the strategic upgradation of its High Frequency Induction Welding (HFIW) Pipes manufacturing capabilities in the US.
Kaynes Technology has received cabinet approval to set up a semiconductor unit in Gujarat with an investment of Rs 3,300 crore.
Real Estate and Hospitality
Brigade Enterprises has launched a Qualified Institutional Placement (QIP) to raise up to Rs 1,500 crore, with an issue price of Rs 1,150 per share.
Lemon Tree Hotels continues its expansion, signing a License Agreement for an 80-room hotel in Gir, Gujarat.
E-commerce
Brainbees Solutions has increased its stake from 51% to 74% in two arms for a total of Rs 106.2 crore.
Investors are advised to conduct thorough research and consider their risk tolerance before making any investment decisions based on these developments.
