Stocks To Watch: Aditya Birla Capital, PNC Infra, Skipper, Godrej Agrovet, Medplus Health, SBI
The NSE Nifty 50 ended 7.15 points or 0.03% higher at 25,017.75, and the S&P BSE Sensex closed 13.65 points or 0.02% up at 81,711.76.
Shares of Aditya Birla Capital Ltd., ICICI Prudential Life Insurance Co. Ltd., PNC Infratech Ltd. and Skipper Ltd. will be in focus on Wednesday.
Aditya Birla Capital made an investment of Rs 300 crore via rights in its unit, Aditya Birla Housing Finance.
ICICI Prudential Life Insurance has been issued a goods and services tax demand and penalty order amounting to Rs 429 crore by the Maharashtra tax authority.
PNC Infrastructure was declared the lowest bidder for a highway project worth Rs 380 crore in Uttar Pradesh and Bihar. Skipper approved raising up to Rs 600 crore via equity and debt.
The benchmark stock indices ended a lacklustre session on Tuesday with little change as gains in Infosys Ltd., and Larsen & Toubro Ltd. supported the indices, while losses in Reliance Industries Ltd. and Hindustan Unilever Ltd. weighed on the indices.
The NSE Nifty 50 ended 7.15 points or 0.03% higher at 25,017.75, and the S&P BSE Sensex closed 13.65 points or 0.02% up at 81,711.76.
Market movements will likely depend on whether the NSE Nifty 50 can surpass the key resistance level of 25,080. If it does, analysts suggest that it could lead to a rise towards 25,300 or even 26,270.
"The Nifty remained strong throughout the day. However, failure to move above 25,080 might trigger selling in the market, potentially bringing the index back towards 24,800," said an analyst.
Here Are The Top Stocks To Watch On Wednesday
ICICI Prudential Life Insurance Company: The company received a GST demand and penalty order worth Rs 429 crore from the Maharashtra tax authority.
Godrej Agrovet: The company completed the acquisition of an additional 49% stake in arm Godrej Tyson foods from Tyson India Holdings. Godrej Tyson Foods has become a wholly owned subsidiary of the company effective from Tuesday.
Gensol Engineering: The company launched US subsidiary Scorpion Trackers and targets a 2,000-megawatt annual supply by 2028.
PNC Infratech: The company was declared the lowest bidder for a highway project worth Rs 380 crore in Uttar Pradesh and Bihar.
Aditya Birla Capital: The company made an investment of Rs 300 crore via rights in unit Aditya Birla Housing Finance.
Indostar Capital Finance: The company sold a portion of its stressed book to Pridhvi Asset Reconstruction. The sale includes certain Stage 2-tagged accounts with outstanding dues of Rs 357 crore.
SBI, SBI Cards: Dinesh Khara retires as chairman today. Khara resigned as director of SBI Card and Payment Services.
Awfis Space Solutions: The company signed the largest managed aggregation deal of three lakh sq. ft. with Nyati Group.
Skipper: The company approved raising up to Rs 600 crore via equity and debt.
Jio Financial Services: The company subscribed to an additional 6.8 crore shares of Jio Payments Bank for Rs 68 crore. The company's holding in payment bank units increased to 82.17% from 78.95%.
Bank of Baroda: The company announced that it has raised Rs 5,000 crore by issuing long-term infrastructure bonds. The lender said it is a 10-year bond issued at a coupon of 7.30%, as per an official statement.
Yes Bank: Amit Sureka, Country Head of Financial Markets, ceased to be part of senior management of the bank.
Medplus Health Services: Warburg Pincus affiliate exited the company by selling an entire 11.35% stake via an open market transaction.
IndiaMART InterMESH: The company incorporated a new unit, IIL Digital for digital marketplaces and software solutions.
UPL: The company arm acquired the remaining 20% stake in PT Excel for $6.9 million.
Infibeam Avenues: The company's artificial intelligence arm introduced a women's safety feature in 'AI Facility Manager' for CCTVs.
NBCC (India): The company is to consider a proposal for the issue of bonus shares on Aug. 31.
Carysil: The company's UK unit will acquire the remaining 30% stake of Yorkshire-based Carysil Brassware for £350,000.
Research Reports
Sumitomo Chemical - Maintain Buy On Healthy Long-Term Fundamentals: Nirmal Bang
JSW Cement DRHP Analysis - Leadership In The Fast-Growing GGBS Boosts Outlook: Systematix
Raymond Lifestyle - On A Transformative Journey: Motilal Oswal
Syrma - ‘Building For Tomorrow’ Action Plan Based On Innovation, Reliability, Agility: Dolat Capital
Federal Bank - Going From Strength To Strength: Axis Securities
Amber Enterprises - Electronics, Mobility Are The Future Growth Levers: Nirmal Bang
Aether Industries - Expansion, Diversification: HDFC Securities
