Let's catch up on the latest news from the stock market. From significant investments to major deals, order wins, and fundraising activities, here’s a quick look at which stocks will be in focus in today's trade:
Quarterly Earnings on August 29
Gillette India, and Hindustan Agrigenetics will announce their quarterly earnings on August 29.
Stocks To Watch
Reliance Industries and The Walt Disney Company have received approval from the Competition Commission of India for the Rs 70,350 crore merger of their Indian media assets. Additionally, the 47th Annual General Meeting (post-IPO) of the company's members will be held on August 29 at 2:00 PM (IST).
Tencent Cloud Europe is likely to sell a 2.1% stake (or 9.7 million shares) in the company via block deals, reports CNBC-TV18, quoting sources. The floor price for the deal is seen at Rs 1,660.2 per share.
Co-founder and promoter Rakesh Gangwal may sell a stake worth up to $850 million in IndiGo via block deals, reports CNBC-TV18, quoting sources. The indicative price for the deal is seen at Rs 4,593 per share.
The company has executed Share Purchase Agreements for the acquisition of a 100% stake in Opexefi Services for Rs 46.7 crore and One Box Warehouse for Rs 49.09 crore. Post-acquisition, both will become subsidiaries of Lodha.
The RPG Group company has secured new orders in its transmission and distribution business in the United Arab Emirates and Saudi Arabia.
National Aluminium Company (NALCO)
KABIL (Khanij Bidesh India - the joint venture company of NALCO, Hindustan Copper, and Mineral Exploration & Consultancy) has signed an MoU with Oil India for collaboration in projects and exploration.
One 97 Communications (Paytm)
Subsidiary Paytm Payments Services (PPSL) has received approval from the Ministry of Finance for downstream investment from the company into PPSL. With this approval, PPSL will proceed to resubmit its application for a payment aggregator license. In the meantime, PPSL will continue to provide online payment aggregation services to existing partners.
The Board of Directors of the company will meet on September 2 to consider the third interim dividend on equity shares, if any, for the financial year 2024-25.
The company has signed a Power Usage Agreement with Telangana state DISCOMs for 200 MW of solar power at a competitive and affordable price under the CPSU scheme for 25 years.
The company has opened its qualified institutions placement (QIP) issue on August 28 and has approved the floor price at Rs 434.96 per share.
The global IT services provider has announced the liquidation of Capco Consulting Services (Guangzhou), the step-down subsidiary based in China. In addition, the company has completed its subscription in the equity share capital of Huoban Energy 11.
The company has signed a License Agreement for a 72-room hotel property in Ujjain, Madhya Pradesh. The property will be managed by its subsidiary Carnation Hotels and is expected to open in FY27.
The company has acquired 178.34 crore ordinary equity shares worth $280 million (Rs 2,347.81 crore) in T Steel Holdings Pte (TSHP). Post this acquisition, TSHP will continue to be a wholly owned subsidiary of the company.
Procter & Gamble Hygiene & Health Care
The company recorded a net profit of Rs 81.06 crore for the quarter ended June 2024, a decline of 46.4% compared to Rs 151.24 crore in the year-ago period, impacted by weak operating performance with significantly higher advertising and sales promotion expenses, as well as impairment losses. However, revenue grew by 9.3% year-on-year to Rs 931.8 crore during the quarter. The board recommended a final dividend of Rs 95 per share.
Bulk Deals
Infinity Partners bought a 9.17% stake in GMM at an average price of Rs 1,352 per share, amounting to Rs 557.3 crore. However, foreign investors Atreides Investments BV sold 0.9% of shares, and Geranium Investments exited the company by selling their entire 8.25% stake at the same price.
PGIM India Equity Growth Opportunities Fund Series I purchased a 0.8% stake in the company at an average price of Rs 216.75 per share.
Foreign portfolio investor SG Sundae Holdings LLC sold 0.92% of shares in the company at an average price of Rs 207.02 per share.
Religare Invesco Mutual Fund, Edelweiss Mutual Fund - Edelweiss Absolute Return Fund, and Invesco Mutual Fund bought a 3.2% stake in the women’s apparel company. However, Setu Securities, Morgan Stanley Asia Singapore Pte, and Nomura Singapore sold 3% of shares in the company.
Motilal Oswal Mutual Fund bought an additional 0.68% stake in the company at an average price of Rs 923.63 per share, and 1.09% of shares at an average price of Rs 940 per share.
Legends Global Opportunities (Singapore) Pte bought a 4.6% stake in the company at an average price of Rs 69.74 per share, from New Leaina Investments. Further, Albula Investment Fund purchased a 4.7% stake in CIL Nova at an average price of Rs 70.5 per share, from Lotus Global Investments.
SME Listing on August 29
Resourceful Automobile
Stocks Turn Ex-Dividend
AMJ Land Holdings, Clean Science and Technology, Honda India Power Products, IG Petrochemicals, Jamna Auto Industries, Multibase India, Pudumjee Paper Products, Radiant Cash Management Services
F&O Ban
Bandhan Bank, Granules India, Hindustan Copper, India Cements
Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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