Stocks to Watch Today, Tuesday, August 27: Indian benchmark indices BSE Sensex and Nifty 50 are expected to open on a subdued note, as indicated by GIFT Nifty futures that were trading around 10 points behind Nifty futures.
At 7:40 AM, GIFT Nifty futures were at 25,030, about 10 points lower that Nifty futures at 25,043.
That apart, the S&P 500 finished lower on Monday, with investors awaiting inflation data for clues on potential interest-rate cuts by the Federal Reserve.
The S&P 500 declined 0.32 per cent to 5,616.84 points, the Nasdaq fell 0.85 per cent to 17,725.77 points, and the Dow Jones Industrial Average rose 0.16 per cent to 41,240.52 points.
Asia-Pacific markets largely fell on Tuesday morning, despite the Dow Jones Industrial Average reaching new highs.
Japan’s Nikkei 225 was down 0.35 per cent, the broad-based Topix was flat, South Korea’s Kospi fell 0.42 per cent, and the small-cap Kosdaq saw a larger loss of 1.14 per cent.
Australia’s S&P/ASX 200 was up 0.13 per cent, the only major Asia-Pacific index in positive territory, nearing its all-time closing high of 8,114.7 set on August 1.
Hong Kong Hang Seng index futures were at 17,694, lower than the HSI’s last close of 17,798.73.
Meanwhile, here are some stocks to keep an eye on today:
UltraTech Cement: The company raised $500 million through a sustainability-linked loan with participation from six banks.
Bondada Engineering: The company received a Letter of Award for a project worth Rs 575.74 crore from Lumina Clean Energy, Purelight Energy, and VVKR Photovoltaics Energy, special purpose vehicles formed by Paradigm IT Technologies and Metalcraft Forming Industries.
Medi Assist Healthcare Services: The company’s subsidiary Medi Assist Insurance TPA signed definitive documents for the 100 per cent acquisition of Paramount Health Services & Insurance TPA from Fairfax Asia and the Shah family. This acquisition will grow Medi Assist’s TPA market share to 36.6 per cent for the group segment and 23.6 per cent of the health insurance industry by premiums managed.
PI Industries: The company appointed Sanjay Agarwal as Group Chief Financial Officer, effective August 26, following the retirement of Manikantan Viswanathan.
Paytm: The company Issued a clarification regarding recent media reports about a notice from SEBI. The company stated this is not a new development and had previously disclosed the matter in its financial results for the quarter and year ended March 31, 2024, and the quarter ended June 30, 2024.
Mazagon Dock Shipbuilders: Sanjeev Singhal, Director (Finance), has been entrusted with the additional charge of Chairman and Managing Director (CMD) for five months, effective August 1.
Repro India: Ashish Kacholia sold a 1.22 per cent stake in Repro India at an average price of Rs 625 per share. JVS Joyrass Holdings bought a 0.7 per cent stake at the same price.
Gland Pharma: One of the board of directors’ members, Qiyu Chen has not received security clearance from the Ministry of Home Affairs, Government of India, and will cease to continue as a Director, effective August 30.
AU Small Finance Bank: DSP Mutual Fund bought a 1.39 per cent stake in the company at an average price of Rs 630 per share. Fincare Business Services sold a 1.7 per cent stake at the same price.
Medplus Health Services: Lavender Rose Investment exited Medplus by selling its entire shareholding of 11.35 per cent at an average price of Rs 616.48 per share. ICICI Prudential Mutual Fund picked up a 4.3 per cent stake at an average price of Rs 616 per share, and the Government of Singapore bought a 0.97 per cent stake at an average price of Rs 616.2 per share.
GPT Infraprojects: The company launched its qualified institutions placement (QIP) issue on August 26, with the floor price fixed at Rs 183.83 per share.
HCL Technologies: The company extended its strategic AI-driven engineering services and digital process operations (DPO) partnership with Xerox. HCLTech will support the newly formed Xerox Global Business Services organization (GBS) in driving key business metrics.
Lemon Tree Hotels: The company signed a new property, Lemon Tree Hotel, Civil Lines, Ayodhya. The 80-room hotel is expected to open in FY28 and will be managed by its subsidiary, Carnation Hotels.
UCAL: The company signed a Memorandum of Understanding (MoU) with Blaer Motors to design and develop electronic components, including motor controllers ranging from 500 watts to 2 kilowatts.
MEP Infrastructure Developers: Elara India Opportunities Fund and Polus Global Fund exited MEP by selling a 1.09 per cent stake each at an average price of Rs 8.43 per share. Vani Agencies bought a 2.66 per cent stake at the same price.
KPI Green Energy: The company’s wholly-owned subsidiary, Sun Drops Energia Private Ltd, received letters of intent to execute solar power projects with a cumulative capacity of 13.30 MW under the captive power producer segment. Orders awarded by Sumicot, Ekta Prints Private, Radhika Fabrics, and Sanjopin Industries.
Vedanta: The company, led by Anil Agarwal, has prepared a Rs 30,000 crore war chest through recent funds raised via a qualified institutional placement (QIP), offer for sale (OFS), and dividend. The funds will be used for deleveraging, improving capital structure, and pursuing growth opportunities. Vedanta’s Q1 profit after tax grew 54 per cent YoY to Rs 5,095 crore. The company also recorded its highest-ever alumina production at Lanjigarh and reduced production costs by 20 per cent YoY. The mining major’s debt stood at Rs 6,130 crore as of June 302.
Alembic Pharmaceuticals: The company received USFDA approval for its generic Betamethasone Valerate Foam, used to treat moderate-to-severe psoriasis of the scalp. The approved ANDA is therapeutically equivalent to Luxiq Foam (0.12 per cent) by Norvium Bioscience3.
Godfrey Phillips: US-based proxy advisory firm Glass Lewis advised shareholders of Godfrey Phillips to vote against the reappointment of Bina Modi as Managing Director at the AGM on September 6. The firm cited concerns over her remuneration and lack of defined performance conditions. The company is currently experiencing a boardroom and succession battle between Bina Modi and her son, Samir Modi3.
TCS: Suresh Muthuswami, head of TCS’s $15 billion North American business, resigned in early August. Amit Bajaj, the president of the North American region, will take over his responsibilities. Under Muthuswami’s leadership, TCS’s North American business generated 51.1 per cent of the company’s $29.1 billion revenue for FY243.
YES Bank: The bank appointed Sumit Bali as the country head of debt management and retail assets. Bali will drive the growth and profitability of the bank’s retail and rural assets and debt management businesses. He previously held leadership roles at Axis Bank, India Infoline Group, and Kotak Mahindra Bank3.
Brightcom Group: The company reported a net loss of Rs 24.2 crore for the quarter ending December 30, 2023, with revenue declining by 85 per cent year-on-year to Rs 453.2 crore. The company attributed the poor performance to the war in Israel, the departure of its CEO and CFO, negative media coverage post-SEBI order, and multiple challenges faced by the board. The auditors flagged concerns over the interim financial statements and shareholding disclosures. Brightcom Group shares remain suspended for trading, and the company has yet to declare results for the March and June quarters.
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“In a market where earnings growth visibility is highly valued, and dividends are scarce, Indian energy companies stand out by offering attractive dividend yields,” said Vikas Pershad, portfolio manager at M&G Investments. “We maintain broad exposure to this sector and remain open to increasing our allocation to these companies.” "Chart")
