GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a lower opening on Thursday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lower as the index was down 54 points or 0.22% at 25,005 indicating a lower start for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. On Wednesday, the NSE Nifty 50 closed the session 35 points or 0.14% higher at 25,052, while the BSE Sensex rose 74 points or 0.09% to close at 81,786.
Stocks to watch on August 29, 2024
Reliance Industries
Reliance Industries and The Walt Disney Company got nod from the CCI for the Rs 70,350 crore merger of their Indian media assets. Also, the 47th Annual General Meeting (post-IPO) of the company’s members will be held on August 29 at 2:00 PM (IST).
Vodafone Idea
Vodafone Idea CEO Akshaya Moondra on Wednesday said it will take some time for the company to reach a point where debt reduction starts happening but the company is looking at improving its performance. “Debt reduction will start happening when our cash EBITDA is more than the financing cost plus the capex,” Moondra said while responding to shareholders’ query during the 29th annual general meeting (AGM) of the company.
Zomato
Food delivery giant Zomato has launched “Zomato for Enterprise” (ZFE), a new platform aimed at simplifying corporate food expense management. CEO Deepinder Goyal announced the initiative, marking a significant step in the company’s ongoing diversification strategy.
Wipro
Wipro has partnered with nine of the top ten healthcare payers in the US, according to a representative from the company’s leadership team told FE. “Our early investment in AI and close collaboration with academia and research institutions in developing generation AI (GenAI) solutions have positioned us at the forefront of innovation,” the representative said.
InterGlobe Aviation
InterGlobe Aviation’s promoter and co-founder Rakesh Gangwal is likely to sell up to $850 million worth of his stake in the country’s largest airline IndiGo through block deals, reported CNBC-TV 18 citing sources.
PB Fintech
Tencent Cloud Europe is likely to sell 2.1% stake or 9.7 million shares in in PB Fintech via block deals, CNBC-TV18 reported citing sources.
Tata Steel
Tata Steel acquired around 178 crore additional equity shares of T Steel Holdings Pte Ltd for USD 280 million, taking the total fund infusion into its Singapore-based arm to USD 1,337 million. After this acquisition, TSHP will continue to be a wholly-owned subsidiary of the company.
National Aluminium Company
Khanij Bidesh India Ltd. (KABIL) and Oil India signed a Memorandum of Understanding (MoU) at NALCO’s corporate headquarters in Bhubaneswar on Wednesday, according to an exchange filing.
Vedanta
Vedanta’s board is to consider the third interim dividend on equity shares for FY25 on September 2. “The meeting of the Board of Directors of the Company is proposed to be scheduled on Monday, September 2, 2024, to consider and approve the Third Interim Dividend on equity shares, if any, for the Financial Year 2024-25,” read an exchange filing.
Procter & Gamble Hygiene and Health Care
Procter & Gamble Hygiene and Health Care (PGHH) reported a 46.40% decline in its net profit standing at Rs 81.06 crore for the June quarter of 2024 on account of increased spending. The company follows the July-June financial year. It reported a profit after tax of Rs 151.24 crore in the corresponding quarter of the previous fiscal year.