Stocks to Watch: IndiGo, ITC, Infosys, HCL Tech, Adani Green, ONGC, Zee, and Others - News18
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Stocks to watch on August 16: Nifty futures traded 94 points, or 0.48 per cent, lower at 19,380, signaling that Dalal Street was headed for a negative start on Wednesday. Here’s a slew of stocks that will be in focus today for various reasons.
SBFC Finance: The grey market premium indicates a likely bullish debut for the stock, with gains up to 50 per cent over the issue price of Rs 57 per share. The Rs 1,025 crore IPO had received a strong response, and was subscribed more than 74 times during the offer period.
IndiGo: Co-founder’s Rakesh Gangwal and wife Shobha Gangwal are likely to sell up to 4 per cent stake in the company worth Rs 3,730 crore in block deals on Wednesday. As per the term sheet, the offer floor price is set at Rs 2,400 per share.
ITC: The company reported a 16.29 per cent YoY rise in Q1 consolidated net profit for the quarter ended June 2023 at Rs 5,104. 93 crore when compared with Rs 4,389.76 crore in the corresponding quarter a year ago. Consolidated revenue from operations, however, declined 6 per cent to Rs 18,639.48 crore.
Infosys: The IT major has signed a multi-year deal with Liberty Global, a London-based converged video, broadband and communications firm. As part of the expanded collaboration agreement, Infosys will provide services to Liberty Global estimated at $1.64 billion over the initial 5-year term and at $2.5 billion if the contract is extended to eight years.
HCL Technologies: The company said it won a new deal to improve and support Cricket Australia’s digital platform with automation and artificial intelligence (AI). The firm will implement automation, analytics, and develop tools to ensure that the Cricket Australia Live and PlayCricket apps maintain their popularity among fans. Financial details of the deal were not disclosed.
Adani Green Energy: Gautam Adani’s renewable energy company is targeting to set up 45 gigawatts (GW) of renewable energy capacity by 2030, as it looks to cut emissions and help India meet its carbon neutrality target. The company has 8.3 GW of operational renewable energy capacity and another 12.12 GW either nearing construction or under execution, sources said.
Mahindra & Mahindra (M&M): The company’s tractor division, Mahindra Tractors on Tuesday launched the Mahindra OJA tractor range. This new tractors were priced at Rs 5.64 lakh for OJA 2127 and Rs 7.35 lakh for OJA 3140 in Pune.
Vodafone Idea (VIL): The telecom company’s Q1 net loss widened to Rs 7,837 crore for the June quarter as against a net loss of Rs 7293.3 crore. Total income, however, was up 1.9 per cent YoY at Rs 10,610.4 crore.
ONGC, Oil India: The government hiked special additional excise duty on crude petroleum to Rs 7,100 per tonne with effect from August 15.
Zee Entertainment: Sebi said it will complete the investigation in the alleged fund diversion matter within eight months. And till such time, it has barred promoters Subhash Chandra and Punit Goenka from holding a directorship or key managerial positions in any of the merged or demerged company as well.
SpiceJet: Akasa Air widened its gap with SpiceJet in July in terms of domestic passengers flown per month. The new airline carried 618,000 domestic passengers in June and 624,000 in July. In contrast, SpiceJet transported 555,000 and 504,000 passengers in June and July, respectively.
Ashok Leyland: The Hinduja Group company’s board approved the complete acquisition of Ohm Global Mobility Private (OHM) from OHM International Mobility for a nominal consideration of Rs 1 lakh. Ashok Leyland said it will invest up to Rs 300 crore as equity in OHM for operationalising the company.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
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