Stocks to Watch: Ola Electric, Cyient DLM, PNB Housing Finance, and more in focus on August 21

On August 21, the Indian stock market is expected to open flat, influenced by weaker trends in global markets. As traders keep an eye on market movements, several stocks are in the spotlight for various reasons. Here’s a look at the key stocks to watch today:

Stocks to Watch

• Ola Electric Mobility
  • Ola’s S1 X 3 kWh and S1 X 4 kWh scooters have received certification under the Production Linked Incentive (PLI) scheme. Both models met the 50% localization criteria set by the Ministry of Heavy Industries.
• Cyient DLM
  • Cyient is set to sell a 14.5% stake in Cyient DLM through block deals, with a floor price of Rs 748.65 per share. This transaction, valued at Rs 860.9 crore, will reduce Cyient’s stake in the company from 66.66% to 52.16%.
• PNB Housing Finance
  • General Atlantic Singapore Fund FII Pte plans to divest a 5.1% equity stake in PNB Housing Finance through a block deal at a floor price of Rs 775 per share. The deal is expected to be worth Rs 1,032.7 crore.
• Larsen & Toubro
  • The Bombay High Court has quashed a show-cause notice issued by GST authorities related to a service tax demand on an erstwhile subsidiary of Larsen & Toubro.
• Vodafone Idea
  • Vodafone Idea lost 0.86 million subscribers in June 2024, an improvement from the 9.24 lakh subscriber loss in May. The company’s market share stood at 18.56% as of June 2024.

Market Overview

Global markets have shown weakness, impacting the Indian stock market outlook for today:

• GIFT Nifty Futures: Indicating a muted start, with only a 16-point drop from Nifty50 futures.
• Asia-Pacific Markets: Mostly trading lower, following Wall Street’s decline. Japan’s Nikkei 225 slipped 1.57%, and Hong Kong’s Hang Seng index dropped 1.01%.

Summary of Key Transactions