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Business News/ Markets / Stock Markets/  Stocks to Watch: SBI, Adani Group, Paytm, RIL, Coforge, Vedanta

Stocks to Watch: SBI, Adani Group, Paytm, RIL, Coforge, Vedanta

RBL Bank, GMR Infrastructure, BHEL, Metropolis Healthcare, Gujarat Narmada Valley Fertilizers And Chemicals, Delta Corp, Hindustan Copper, India Cements, Indiabulls Housing Finance, Punjab National Bank and Manappuram Finance are stocks that are a part of the F&O ban list by the NSE for Friday

Stocks to Watch for Friday (AP)Premium
Stocks to Watch for Friday (AP)

Here are the top 10 stocks that could be in focus in today's trade:

State Bank of India: SBI Chairman Dinesh Khara is likely to remain at the top post for another 10 months. The official – appointed in October 2020 – may now remain in the role beyond this three-year term. SBI rules mandate retirement at the age of 63 for its chairman – an age that Khara will reach in August next year. According to a CNBC TV18 report quoting sources, SBI MD Ashwini Kumar Tewari may also receive an extension. While his current term is slated to end in January 2024, the publication indicates the possibility of a two-year extension.

Adani Group: Adani Group said cash and profit generated from its sprawling infrastructure business can cover all the debt maturing each year in the coming decade, as billionaire Gautam Adani tries to restore investor confidence days before India’s markets regulator is due to submit findings from a probe into the group’s alleged wrongdoings. In a credit report released Thursday, the conglomerate said its cash flow generated from business operations and balances stood at 77,890 crore by the end of March. That provides enough liquidity for the company to cover debts that will mature within a year.

One97 Communications: The parent company of Paytm, One97 Communications, promoter Antfin is expected to conduct a block deal on August 25. During this deal, they plan to sell approximately 3.6% of their stake, equivalent to around 2.3 crore shares, in the fintech firm Paytm. The proposed floor price for this transaction is anticipated to be set at a discount of 880.10 per share, representing a reduction of 2.7% from the closing price recorded on August 24. This information was reported by Bloomberg.

Zee Entertainment: Even as Zee Entertainment Enterprises Ltd (ZEEL) founder Subhash Chandra and his son Punit Goenka await clean chit from the market regulator over financial irregularities in the media house, the company itself is entangled in a series of legal disputes, including tax claims, regulatory filings showed. The filings showed that Zee is dealing with at least a dozen lawsuits, involving cases filed by the Income Tax department, the Commissioner of Service Tax, the Director General of GST Intelligence, and several lenders.

Max Financial Services: Max Ventures Investment Holdings, one of the promoters of Max Financial Services, offloaded a 3.6 per cent stake in the company for 1,091 crore through open market transactions. Nippon India Mutual Fund (MF), ICICI Prudential MF, Kotak MF, Kotak Mahindra Life Insurance, HDFC Standard Life Insurance, Morgan Stanley Asia Singapore, International Monetary Fund and Plutus Wealth Management among others were the buyers of the shares of MFSL on both BSE and NSE.

/EIH: Reliance Industries today announced that it has entered into an understanding with The Oberoi Hotels and Resorts (Oberoi) to jointly manage three properties across India and the UK. These include the upcoming Anant Vilas Hotel in Mumbai’s Bandra Kurla Complex (BKC), the iconic Stoke Park in the UK, and another planned project in Gujarat. Oberoi Hotels was voted the World’s Best Hotel Brand at the Travel + Leisure, USA World’s Best Awards, 2022.

: BPEA EQT on Thursday sold its entire 26.63% stake in Coforge Ltd (formerly NIIT Technologies) for 7,684 crore to multiple investors through bulk deals, leaving the software services firm without a promoter and the first of its kind to be entirely owned by public investors. The block deals in the software services firm boosted its stock by around 10% to 5,391 on Thursday, with the transactions drawing marquee investors such as SBI Mutual Fund, Aditya Birla Mutual Fund, Capital Group and Kotak Mahindra Group.

RIL/Bharti Airtel/Vi: Telecom subscriber base in the country grew marginally to 1,173.89 million at the end of June, sector regulator TRAI said on Thursday, August 22. The subscriber base growth was driven by mobile telephony where Reliance Jio added over 2.27 million new customers and Bharti Airtel added 1.4 million customers, according to the data. the overall growth was mitigated by the loss of subscribers by state-owned BSNL, MTNL and Vodafone Idea (VIL). BSNL lost 1.87 million mobile subscribers, VIL lost 1.28 million subscribers.

Vedanta: The mining company has been granted an arbitration award that supports its position in the Rajasthan block case, according to reports. The company's argument revolves around the fact that, according to the terms of the production sharing contract for the Rajasthan block, there is no obligation to pay additional profit petroleum. This additional profit petroleum is linked to exceptions raised by the DGH during an audit. These exceptions pertain to the allocation of common development costs across different Development Areas as well as specific other matters.

Infosys: IT major Infosys on Thursday announced a three-year partnership with tennis star Rafael Nadal. Globally acknowledged as one of the legends in sports, he also has had the ability to change with the changing rigours of tennis over the years. "Nadal is a perfect embodiment of what it takes individuals or business leaders to evolve and continually navigate their next," the company said in a statement.



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Published: 25 Aug 2023, 07:24 AM IST
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