Stocks To Watch: HCL Tech, UltraTech Cement, Mazagon Dock, Piramal And More

Shares of HCL Technologies Ltd., UltraTech Cement Ltd., Zydus Lifesciences Ltd., Mazagon Dock Shipbuilders Ltd., PI Industries Ltd., and Piramal Enterprises Ltd. will be in focus on Tuesday.

HCL Tech has renewed its partnership with Xerox, focusing on AI-driven innovation and digital engineering solutions.

UltraTech Cement secured $500 million through a sustainability-linked loan with participation from six banks. This is the second sustainability-linked financing raised by the cement maker, subsequent to its inaugural sustainability-linked bond issuance in 2021.

Zydus Life clarified that today’s stock movement is unrelated to its acquisition of a 50% stake in Sterling Biotech, and noted that another company has received U.S. FDA approval for a generic drug that could impact sales. Shares of the company opened 6% lower and fell to a nearly two-month low on Monday. 

Mazagon Dock Shipbuilders extended Sanjeev Singhal’s term as Chairman and Managing Director for five more months, effective Aug. 1. PI Industries appointed Sanjay Agarwal as Group CFO, effective Aug. 26, following the superannuation of Manikantan Viswanathan. 

Meanwhile, Piramal Enterprises’ unit, Piramal Capital & Housing Finance, was held liable for a Rs 466 crore penalty after voluntarily withdrawing a Rs 3,698 crore claim from the Dewan Housing Finance merger. PCHFL argued that the penalty is not justified, according to its statement to the exchanges.

The Nifty closed 187.45 points or 0.76%, higher at 25,010.60 and the Sensex was 611.90 points or 0.75%, up at 81,698.11. Both indices closed at their highest levels since Aug. 1.

The Nifty ended higher for the eighth consecutive session, its best streak since the eight sessions that ended on July 6.

Market action is expected to hinge on whether the Nifty can decisively break above the key resistance level of 25,080, which could pave the way for a rise towards 25,300 or even 26,270, according to analysts.

"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 Rupak De, senior technical analyst at LKP Securities.

Traders are advised to remain cautious, with a focus on stock selection, as sentiment is buoyed by favourable global cues and expectations of interest rate cuts, according to Ajit Mishra, senior vice president of research at Religare Broking Ltd.

• GPT Infraprojects: The company launched qualified institutional placement and set the floor price at Rs 183.83 per share.

• HCL Tech: The company extended the agreement with Xerox to for AI-based innovation and digital engineering solutions.

• Jai Corp: The company received intimation of merger of promoter Pet Fibres with Mega Pipes.

• Lemon Tree: The company signed a license pact for an 80-room hotel in Ayodhya.

• Mazagon Dock Shipbuilders: The company extended the term of Sanjeev Singhal as Chairman and Managing Director for five more months effective Aug. 1.

• Medi Assist Healthcare Services: The company's arm is to enter into a share purchase agreement to buy Paramount TPA for Rs 312 crore.

• PI Industries: The company appointed Sanjay Agarwal, as Group CFO effective Aug. 26, after Manikantan Viswanathan attained the age of superannuation.

• Piramal Enterprises: The company unit Piramal Capital & Housing finance held liable for Rs 466 crore penalty on voluntary withdrawn claim of Rs 3,698 crore from Dewan Housing Finance merger.

• UltraTech Cement: The company raised $500 million through a sustainability-linked loan with participation from six banks.

• Zydus Life: The company clarified that today’s stock movement is not attributable to previously announced acquisition of 50% stake in Sterling Biotech, US Food and Drug Administration approval for generic of mesalamine has been given to another company, which could impact sales.