Indian markets are set for a positive start on Tuesday, influenced by bullish trends in global markets. GIFT futures indicated a higher opening, with a 64-point rise from Nifty50 futures at 24,659 levels.
Key Stocks to Watch:
- Zomato: Antfin Singapore, part of the Alibaba Group, is planning to sell nearly 2% of its stake in Zomato, valued at $556 million, through block deals. The floor price is set at ₹251.68 per share.
- Poly Medicure: The company has launched a Qualified Institutional Placement (QIP) with a floor price of ₹1,880.69 per share, aiming to raise ₹1,000 crore for expanding manufacturing facilities, inorganic growth, and general corporate purposes.
- HCL Technologies: Shiv Walia has been appointed as the new Chief Financial Officer, effective September 6, while Prateek Aggarwal has stepped down to pursue other opportunities.
- MRO-TEK Realty: The company’s CFO, Rengarajan Gopalakrishnan, has resigned due to health issues, effective August 19.
- Bajaj Auto: The company has made a provision of ₹211 crore for deferred tax on investment income in Q2FY25 due to tax rate changes.
- Hindustan Zinc: Vedanta’s shareholding in Hindustan Zinc has decreased to 63.42% following an offer-for-sale of 6.36 crore equity shares.
- Nucleus Software Exports: The Board of Directors will consider a share buyback proposal on August 22.
- Motilal Oswal Financial Services: The company plans to issue non-convertible debentures worth up to ₹200 crore on a private placement basis.
- IndusInd Bank: The Reserve Bank of India has approved IndusInd Bank to set up a wholly-owned subsidiary for asset management.
- Hi-Tech Pipes: The Board has approved raising funds up to ₹600 crore through various means, including QIPs and public issues.
- Saraswati Saree Depot: The company is set to debut on the stock exchanges on Tuesday, with a grey market premium of ₹46, indicating a likely 29% premium listing.
- Tata Consumer Products: The company closed its rights issue, raising up to ₹3,000 crore at ₹818 per share.
- Vishnu Chemicals: Announced a 100% equity acquisition of Jayansree Pharma Pvt Ltd for ₹51.99 crore.
- Finkurve Financial Services: Entered into a co-lending arrangement with RBL Bank to offer gold loans through a digital lending platform.
- Sequent Scientific: Received WHO prequalification for Albendazole, a critical API, in partnership with Mepro Pharmaceuticals.
