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Business News/ Markets / Stock Markets/  Stocks to Watch: Zomato, Maruti, ONGC, HeroMoto Corp, Lupin
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Stocks to Watch: Zomato, Maruti, ONGC, HeroMoto Corp, Lupin

Escorts Kubota, GMR Airports Infrastructure, Hindustan Copper, Indiabulls Housing Finance, Manappuram Finance, RBL Bank, and Sun TV Network are in the F&O ban list for 30 August

On Tuesday, the benchmark Sensex rose 79 points to end at 65,076, while the broader Nifty added 36 points to close at at 19,342. (Photo: AP)Premium
On Tuesday, the benchmark Sensex rose 79 points to end at 65,076, while the broader Nifty added 36 points to close at at 19,342. (Photo: AP)

New Delhi: Following are the stocks that could be in focus in Wednesday's trade:

Zomato: SoftBank’s Svf Growth (Singapore) Pte. Ltd is set to divest a 1.17% stake in Zomato Ltd on 30 August. The deal is expected to fetch 940 crore ($114 million) for the Japanese investor. As on 30 June, Svf Growth held a 3.42% stake in Zomato. The floor price of the block deal has been set at 94 apiece, or a 0.7% discount from Tuesday’s closing price on the BSE. On 28 August, Tiger Global -backed Internet Fund III Pte Ltd offloaded 123.5 million shares, or 1.44%, at an average price of 91.01 apiece via bulk deal on the BSE. Between 25 July 2022, and 2 August, the New York-based hedge fund sold over 184 million shares, or 2.34%, of Zomato in the open market.

Maruti Suzuki India: The country's largest carmaker is looking to invest around 45,000 crore to double its production capacity to 40 lakh units annually in the next eight years, chairman RC Bhargava said on Tuesday. The company will also take up suggestions by shareholders for a stock split to its board for consideration, he said while speaking at the annual general meeting of the carmaker.

Hero MotoCorp: India's largest two-wheeler maker plans to to create a portfolio of premium motorcycles and scooters with the launch of multiple products in the next two years, according to media reports. Known for its entry-level bikes, the company is looking to introduce a new product every quarter in the next one year to ramp up its presence in the 150cc to 450cc bike segment.

ONGC: State-owned ONGC plans to invest around 2 trillion towards its energy transition efforts until 2038, said chairman and chief executive Arun Kumar Singh. At a press briefing following its annual general meeting, Singh said the company is focussing on many aspects of energy transition, including green hydrogen, offshore endeavors, and solar initiatives. 

Union Bank of India: Asset Care and Reconstruction Enterprises (ACRE), backed Ares Management, is set to acquire a Visa Steel loan of 411 crore from Union Bank of India after no other bidders participated in the Swiss Challenge process.

Central Bank of India: The public sector lender has tied-up for a co-lending partnership with IKF Home Finance to offer MSME and home loans. IKF Home Finance manages assets totalling 696.10 crore via operations in six states. The public-sector lender has also joined hands with Samunnati Financial Intermediation & Services to offer agriculture and MSME loans. Samunnati is functioning in 22 states, with assets under management worth 1,150 crore.

Lupin: The pharma major's Canadian subsidiary Lupin Pharma Canada has launched Propranolol LA (long-acting) capsules, with 60 mg, 80 mg, 120 mg and 160 mg strengths in Canada. Propranolol LA is a generic equivalent of Inderal LA, which is used to treat heart problems, anxiety, and migraines.

GR Infraprojects: Subsidiaries GR Belgaum Raichur (Package-5) Highway Private Limited and GR Belgaum Raichur (package-6) Highway Private Limited, have executed concession agreement, for road projects worth 1,457.24 crore, with the National Highways Authority of India.

Anupam Rasayan: The chemicals manufacturer is close to acquiring Austria’s ESIM Chemicals, according to media reports. Anupam Rasayan has signed exclusivity agreement with ESIM Chemicals for proposed buyout.

JSW Group: The Sajjan Jindal-led JSW Group is in advanced talks to acquire the shuttered Chennai factory of Ford Motor Co. for its planned entry into electric-vehicle (EV) space. Spread over 350 acres, the Ford factory has an annual production capacity of around 200,000 vehicles and 340,000 engines. The plant has been shut since July 2022. The Tamil Nadu government is also keen that it finds a new owner who can restart production.

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Updated: 30 Aug 2023, 07:37 AM IST
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