Shares of Zomato Ltd., One97 Communications Ltd., Kalyan Jewellers India Pvt. Ltd., Indian Renewable Energy Development Agency Ltd. and India Grid Trust Ltd. will be in focus on Wednesday. Zomato is set to acquire Paytm’s entertainment ticketing business for Rs 2,048 crore. The deal includes the purchase of Orbgen Tech, Paytm’s movie ticketing unit, for Rs 1,265 crore, as well as Wasteland Entertainment for Rs 784 crore.
Highdell will sell a 2.36% stake in Kalyan Jewellers to promoter Trikkur Sitarama Iyer for Rs 1,300 crore, with the shares priced at Rs 535 each.
Meanwhile, IREDA is contemplating raising up to Rs 4,500 crore through a follow-on public offer, qualified institutional placement, or other funding methods.
Sponsor Esoteric II plans to divest up to 17.32% of its stake in the company through an offer for sale. The minimum price for the OFS is set at Rs 132 per share. The OFS is scheduled for Aug. 22 and 23.
The NSE Nifty 50 settled at 71.35 points, or 0.29% higher at 24,770.20, and the S&P BSE Sensex ended at 102.44 points, or 0.13% higher at 80,905.30.
Intraday, Nifty rose 0.30% to 24,773.25, and Sensex rose 0.13% to 80,905.89. For the entire session, the Nifty 50 moved in the 133.45 point range, and the Sensex moved in the 326.45 point range.
Analysts advise investors to monitor the Nifty Bank closely, as its performance will be key to driving market momentum. They also recommended monitoring global developments and responding based on the specified levels.
A gradual increase in the support base of the NSE Nifty 50 is apparent, with 24,650–24,600 expected to offer protection against potential declines. The critical support remains around the key level of 24,500.
Analysts indicate that if the benchmark indices stay above 24,650/80,600, the bullish trend is expected to persist, potentially driving the market to rally between 24,850–24,900/81,300–81,600.
On the other hand, a drop below 24,650/80,600 could lead to a swift intraday correction, potentially bringing the market down to the 20-day simple moving average or to levels around 24,525–24,500/80,100–79,800.
Here Are The Top Stocks To Watch On Tuesday
Zomato: The company will acquire Paytm's entertainment ticketing business for Rs 2,048 crore. Paytm will transfer the movie ticketing business to unit Orbgen Tech, which will be acquired by the company for Rs 1,265 crore, and unit Wasteland Entertainment will be bought by Zomato for Rs 784 crore.
One 97 Communication: The company announced significant cuts in the annual salaries of its non-executive independent directors, Ashit Ranjit Lilani and Gopalasamudram Sundararajan.
Kalyan Jewellers: Highdell to sell a 2.36% stake to promoter Trikkur Sitarama Iyer for Rs 1,300 crore, at Rs 535 per share.
India Grid Trust: Sponsor Esoteric II to sell up to a 17.32% stake in the company via OFS, which includes a base offer of up to 9.66% with an oversubscription option of an additional 7.66%. The floor size for OFS is set at Rs 132 per share. OFS is to take place on August 22 and 23.
IREDA: The company is to consider raising funds up to Rs 4,500 crore through FPO, QIP, or other means.
Zen Technologies: The company will launch its QIP and has set the floor price at Rs 1,685.18 per share.
Welspun Enterprises: The company arm received an order worth Rs 160 crore from BMC for the rehabilitation of man-entry sewers by trenchless technology in Mumbai.
L&T Technology Services: The company has extended collaboration with Paris-based Thales for software monetisation solutions.
RVNL: The company signed a MoU with Dhaya Maju Infrastructure for rail infrastructure projects in the ASEAN market, with a special focus on establishing a manufacturing base in Malaysia for railway coaches.
BEML: The company partnered with the Indian Navy to develop advanced marine applications for defence.
Also Read: Your Guide To FII Positions On Aug. 22 Trade
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