Stocks to Watch: RIL, Adani Ent, IDFC First, Zee Entertainment, Tata Motors
- BHEL, Escorts Kubota, GMR Infrastructure, Hindustan Copper, India Cements, Manappuram Finance, RBL Bank, and Sun TV are the stocks that are a part of the F&O ban list by the stock exchange for Monday
Here are the top 10 stocks that could be in focus in today's trade:
Reliance Industries: Reliance AGM 2023 date has been fixed on 28th August 2023. The Sensex heavyweight is expected to unveil its business blueprint for the future. According to market experts, after the demerger of Jio Financial Services Ltd (JFSL) from RIL, the market is expecting some concrete announcements in regard to Future Retail IPO and Reliance Jio IPO. They said that the launch of 5G devices at a reasonable price and some succession from the company in this regard is also expected.
Adani Enterprises: A single market participant took a derivatives position worth an estimated ₹600 crore in Adani Enterprises Ltd (AEL), flagship of the Adani Group and a Nifty 50 stock, just days before India’s markets regulator submitted its status report on the Adani probe to the Supreme Court on 25 August. While it’s unknown whether the position is a hedge or a punt, market experts said such positions are normally taken in anticipation of a sharp price move based on an event.
IDFC First Bank: IDFC First Bank has won the title sponsorship rights for all BCCI matches for domestic and international cricket for the next three years for ₹4.2 crore per match, two people aware of the matter said. The BCCI had issued its invitation to tender for the rights earlier this month after Mastercard Inc. exited in March as the title sponsor for Team India. The base price was kept at ₹2.4 crore per match. The only other bidder was OTT service SonyLIV, which bid for ₹2.7 crore per match, one of the two persons said on the condition of anonymity.
Zee Entertainment: Punit Goenka, former managing director & chief executive officer of Zee Entertainment Enterprises Ltd, on Friday moved the Securities Appellate Tribunal (SAT), challenging a recent confirmatory order issued by the markets regulator Securities and Exchange Board of India (Sebi). In its appeal before the tribunal, a senior counsel representing Goenka requested a stay on the effect and operation of the regulator’s order.
Tata Motors: Tata Motors has pledged to transform its facilities into net-zero greenhouse gas emissions sites by 2045, and it is actively pursuing various technologies, such as electric and hydrogen fuel, to accomplish this goal, as stated by Executive Director Girish Wagh. The organization, valued at USD 37 billion and holding a prominent position in the commercial vehicle sector within the country, will persist in committing an annual investment of more than ₹2,000 crore in its commercial vehicle business, according to the official.
Grasim Industries: Grasim Industries Ltd announced that the company will be deploying its largest-ever capital expenditure (capex) with a focus on two new businesses—paint and building materials. It has already invested ₹1,979 crore in the paint business in fiscal year 2023, Kumar Mangalam Birla, chairman of Grasim Industries Ltd, told the 76th annual general meeting. Grasim recorded a year-on-year growth of 23% in consolidated revenue from operations, reaching an all-time high of ₹1.17 trillion.
JSW Steel: JSW Steel Ltd is planning to pick up a 20% to 40% stake in Elk Valley Resources Ltd — a metallurgical coal unit of Teck Resources. JSW Steel Chairman Sajjan Jindal informed about the developments during an interview on Bloomberg TV. He added that JSW along with some Japanese and South Korean mills is mulling to buy a stake in the coal unit and the combined offer may be worth $8 billion. The deal is likely to get inked within a month, Jindal added.
Aurobindo Pharma: Aurobindo Pharma said on Friday, August 25 that its Committee of Independent Directors will pursue a comprehensive evaluation of all options regarding the restructuring of its wholly-owned subsidiary Eugia Pharma Specialities Limited. The pharma major clarified a news report which said the promoters of the firm have started the process of selling a majority stake in its injectables business Eugia Pharma.
HAL/L&T: Industry major Larsen & Toubro and Hindustan Aeronautics are firms that may bid in efforts to privatize its small satellite launch rocket, reported Reuters on 25 August. Developed by the Indian Space Research Organisation (ISRO), the Small Satellite Launch Vehicle (SSLV) is a low-cost means to launch satellites weighing up to 500 kg (1,102 lb) into low-earth orbit. The SSLV serves a booming market to launch clusters of satellites for communications and data that SpaceX and rivals compete in.
Suzlon Energy: Renewable energy solutions provider Suzlon Group on Friday announced that it has bagged a large order for a 201.6 MW wind energy project from Teq Green Power XI, a part of O2 Power. ''Suzlon will supply the wind turbines (equipment supply) and execute the project including erection and commissioning," the company said in a statement. The company will also provide operation and maintenance services post-commissioning, it added.
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