Stocks To Watch: RIL, IndiGo, PB Fintech, Vedanta, Tata Steel, Paytm, Zomato, And Others

These Stocks To Watch On August 29: Benchmark Nifty climbed marginally to a contemporary lifetime high of 25,052, whereas SenseX increased by over 70 points on Wednesday.

Due to numerous news developments, today’s trade will focus on RIL, IndiGo, PB Fintech, Vedanta, and others.

Stocks To Watch Today

Reliance Industries: The Competition Commission of India has given the green light for a proposal to merge Reliance Industries’ Viacom18 and the Walt Disney Company’s Star India. Reliance Industries will own 36%; 56%, the Walt Disney parent company will own 37%, and Bodhi Tree Systems Ltd. will own the remaining 7%. Furthermore, the business will hold its annual general meeting for the financial year 2023-24 today.

Indigo: On the other hand, Rakesh Gangwal, co-founder of InterGlobe Aviation, plans to sell his stake in the country’s largest airline, IndiGo Airlines, worth $850 million through Bock Deal. The indicative price is Rs 4,593 per share, 5.5% cheaper than the current market rate.

PB Fintech: Tencent Cloud Europe BV is assumed to sell 2.1% of its stake (approximately 9.7 million shares) in PolicyBazaar promoter via block deals. The price of the purchase is set at Rs 1,660.2 per share, down 4.5% from the current market price.

P&G Hygiene and Health Care: The business ended the June quarter of 2024 with a net profit of Rs 81.06 crore, down 46.4% year-on-year. Revenue for THE FY Q2 period was Rs 931.8 crore, up 9.3% in the prior year to Rs 931.8 crore. The company’s board recommended a final annual dividend of Rs 95 per share.

Vedanta: Vedanta, a mining conglomeration majorly owned by Anil Agarwal, will discuss a third interim dividend on September 2nd when the board meets. September 10, 2024, was identified as the record date for the dividend.

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Tata Steel: Tata Steel has acquired 178.34 crore ordinary shares, valued at USD 280 million (Rs 2,347.81 crore), in T Steel Holdings Pte “. Post-acquisition, TSHP will remain a wholly owned subsidiary of the company. The fourth quarter is recognized as the fiscal year’s final quarter.

KEC International: KEC International, an infrastructure firm, has received contracts worth Rs. 1,171 crore in its Transmission and Distribution business in over eight Indian states and the UAE and Saudi Arabia “.

One 97 Communications Paytm: The Finance Ministry has granted consent for “downstream investment” from One 97 communications to Paytm Payments Services “ Over the next few days, Paytm Payments will resubmit its payment aggregator application (PA) to the RBI.

Zomato: The firm has recently acquired Paytm’s entertainment ticketing business for Rs. 2,048 crore to boost possibilities in the “going-out” category. The buy includes Orbgen Technologies, Pvt., a movie ticketing domain, and Wasteland Entertainment Pvt Ltd, an event ticketing site.

LTIMindtree: The High Court of Karnataka has given a tax stay on LTIMindtree for alleged non-payment of Rs 378 crore in Integrated Goods and Services Tax. It noted that the government has always made huge negative publicity, further states that LTI wants to exercise the power it has.

YES Bank: Yes Bank has collaborated with Newtap Finance, a leading provider of tailored financing solutions for creditworthy customers who have a CRED account on the CRED platform. Offering financing choices to creditworthy consumers at the point of sale. CRED members will be able to borrow at attractive rates from Newtap as part of the agreement CRED’s finance-first ideology and dedication to progress the Indian financial system.

Sonata Software: Sonata Software has secured a “multi-million-dollar” IT outsourcing contract from a major US-based health and wellness provider. The agreement also includes developing the IT budget and modernizing the technology landscape”.

Wipro: The global leader in IT services, has confirmed the voluntary liquidation of its step-down subsidiary, Capco Consulting Services Limited, in the People’s Republic of China. The IT services provider announces the completion of its subscription of equity share capital of Huoban Energy as well.

Macrotech Developers: The real estate developer has entered into a Share Purchase Agreements to acquire 100% of both Orpexefi Services Private Limited and One Box Warehouse Private Limited. After this acquisition, both Orpexefi and One Box will become wholly-owned subsidiaries of Macrotech Developers and their purchase prices are 46.7 crore and 49 crore respectively.

NLC India: The state-owned lignite miner has signed a power purchase agreement of 25 years with TSSPDCL and TSNPDCL – the Telangana state discoms for 200 Mw capacity of solar power under the CPSU scheme.

Vodafone Idea: The Supreme Court of India has agreed to hear Vodafone Idea’s curative petition in the Adjusted Gross Revenue case on August 30, 2021.

This petition was filed after the Apex Court recognized the SPGI’s submissions against the 2019 judgment on AGR payments to the government.

Lemon Tree Hotels: The company announced that it has signed a License Agreement for Lemon Tree Hotel, Ujjain,. Madhya Pradesh at the Gujarat International Finance-Tec City in Gandhinagar from FY 2026-27.

The hotel is expected to have a total of 72 rooms along with facilities like food and beverage outlets and a bar, along with common amenities and a swimming pool hotel. It will be operated by Aholding Group.

NALCO, Oil India: On June 22, 2021, Khanij Bidesh India Ltd., India’s premier industrial mineral trading company, signed a Memorandum of Understanding with Oil India Limited for strategic collaboration in mineral exploration and mining projects and services. This partnership would To cater to the ever-increasing mineral requirement of the Indian economy.

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