The Indian stock markets closed on a cautious note today, with both the Sensex and Nifty showing slight gains. The Sensex rose by 33.02 points, closing at 81,086.21, while the Nifty edged up by 11.65 points, settling at 24,823.15. Over the past week, the Sensex has increased by 0.9% and the Nifty 50 has climbed 1%.
Here are some key stocks to watch out for on August 26:
- KEC International: The company has secured orders worth ₹1,079 crore across its transmission & distribution and cables businesses. These orders include projects in India, Saudi Arabia, Oman, the United Arab Emirates, and the Americas. So far this year, KEC International has received orders exceeding ₹8,700 crore.
- Divi’s Laboratories and LTIMindtree: Both companies will be excluded from the Nifty 50 index starting September 30, 2024.
- Trent and Bharat Electronics: These stocks will begin trading on the Nifty 50 index from September 30, 2024.
- Ambuja Cements: GQG Partners has increased its stake in Ambuja Cements to 2.5% by purchasing an additional 1.1% through block deals worth ₹1,679 crore. The shares were bought at ₹625.5 each.
- Hero MotoCorp: The flagship auto components company of the Hero Group has filed its IPO papers with SEBI, aiming to raise up to ₹900 crore through the public issue.
- JSW Energy: The company’s arm, JSW Neo Energy, has received a Letter of Award for a 250 MW grid-connected wind power project from Adani Electricity in Mumbai.
- Transport Corporation of India: The board has approved a proposal to buy back up to 13.33 lakh shares at ₹1,200 per share. The buyback price is a 4.5% premium to Friday’s closing price. September 4, 2024, has been set as the record date for the buyback.
- ONGC: The company has started production from its fifth oil well in the Krishna-Godavari Basin’s Deepwater Block.
- Karur Vysya Bank: The Reserve Bank of India has approved SBI Mutual Fund’s proposal to acquire up to a 9.99% stake in the lender.
- Ashoka Buildcon: The company has emerged as the lowest bidder for a Mumbai Metropolitan Region Development Authority (MMRDA) project worth ₹478 crore.
- Religare Enterprises: The Enforcement Directorate conducted a search at the premises of top executives, including Executive Chairperson Rashmi Saluja. No incriminating documents or devices were found. The ED has frozen the ESOP shares of Care Health Insurance Ltd.
- Jindal Saw Limited: The company’s Board of Directors has approved a proposal to split its equity shares in a 2:1 ratio, reducing the face value of each share from ₹2 to ₹1.
- Zomato: The food delivery platform has introduced a new feature allowing users to schedule orders up to two days in advance.
- Alembic Pharmaceuticals: The company received final approval from the USFDA for its Betamethasone Valerate Foam, 0.12%.
- FTSE All World Index Additions: Bank of Maharashtra, Bharat Dynamics, Central Bank of India, Cochin Shipyard, Endurance Tech, Escorts Kubota, GE T&D India, Hitachi Energy India, HUDCO, IRB Infra, KEI Industries, Lloyds Metals, and Motilal Oswal are among the companies added to the index, effective from September 23, 2024.
