IOCL, HeroMoto Corp, Zomato, Bharti Airtel, Anupam Rasayan and Piramal Enterprises among top stocks to watch today

Stocks to watch: Benchmark stock indices continued their winning streak on Tuesday (August 29, 2023) as they closed higher on a day when power, metals, and select financial shares fared well. Both indices were up over 0.12 per cent. While the S&P BSE Sensex ended up 0.12 per cent or 79.22 points at 65,075.82, the NSE Nifty 50 was up 0.19 per cent or 36.6 points, at 19,342.65.

One of the major updates of the day was the central government's announcement that the price of LPG gas cylinders across the country would be slashed by Rs 200.

The announcement is most likely to impact gas stocks during market hours on Wednesday, August 30.

Among some of the major updates of Tuesday, Jio Financial Services ended as Nifty's top gainer, up 5 per cent a day after Reliance Industries Limited announced that JFS would enter into the insurance business; Airtel Uganda Ltd. announced that it planned to raise as much as 800 billion shillings ($216 million) in an initial public offering in Uganda; Hero MotoCorp stock ended up over 1 per cent on the NSE after the company unveiled Karizma XMR 210 at Rs 1.7 lakh; shares of Tata Motors ended 0.72 per cent higher on BSE after Tata Passenger Electric Mobility unveiled a new brand identity, TATA.Ev; an Icra report said that the Indian IT services sector's revenue growth would slow down to 3 per cent in the current fiscal from 9.2 per cent in the previous financial year.

Bangalore-based exporter Gokaldas Exports hit the upper circuit in the early trade on the BSE after announcing an acquisition deal; NBCC received a Rs 66 crore order from the Indian Medical Association to plan and execute IMA House in New Delhi; Gensol Engineering Limited announced bagging orders for EPC projects worth Rs 101.6 crore in Dubai; Pyramid Technoplast Ltd made its market debut with a premium of nearly 13 per cent against the issue price of Rs 166; and ride-hailing app SnapE said it was planning to more than double its current fleet by the end of FY24.

At around 8:02 am on Wednesday, August 30, the GIFT Nifty futures traded 78.25 points lower, or 0.40 per cent at 19,424, suggesting a positive opening of the market.

Amid the developments that kept market participants engaged throughout the day, ZeeBiz highlights some important stocks that can hit the headlines on Wednesday.

Oil marketing companies- HPCL/IOCL/BPCL 

The cabinet reduced the price of gas cylinders by Rs 200. New rates will be applicable from today. The price of domestic gas will be around Rs 900.

Bharti Airtel

Airtel Uganda Ltd. announced on Tuesday that it was planning to raise as much as 800 billion shillings ($216 million) in an initial public offering, making it Uganda's biggest share sale.

According to the prospectus released in Kampala, the capital of Uganda, the telecom company revealed that the offer would open on Wednesday (August 29) and close on October 13.

The company will start trading in the stock market on October 31.

Jio Financial Services

In a first for the share since its listing on August 21, the stock ended the day in positive territory on BSE, as it ended the day as high as 4.72 per cent at Rs 221.65. The jump came a day after RIL Chairman Mukesh Ambani announced that JFS would enter the insurance business. It will be interesting to see if it maintains momentum on Wednesday.

Rishabh Instruments  

The initial public offer (IPO) will open from today until September 1. The price band for the same is set at Rs 418 to Rs 441 apiece. 

SBFC Finance

The company has posted a net profit of Rs. 47 crore for the period ended June 30, 2023, as against Rs. 32 crore a year ago. The net interest income of the company stood at Rs 115 crore against Rs 80 crore year-on-year (YoY). 

Zomato 

A block deal of 10 crore shares is likely to take place at Rs 94 apiece. SVF Growth Fund (Softbank), as per reports, will sell 10 crore shares (1.17 per cent) stake.

G R Infraprojects 

The company's two subsidiaries GRBR (Package 5 and 6) tied up with NHAI for a Rs 1,457 crore highway project. 

Interglobe Aviation or IndiGo

Inflight shutdown on two Interglobe A321 NEO aircraft. The Directorate General of Civil Aviation has ordered an inquiry into the matter. 

Auto stocks

The government will give more concession in the auto PLI scheme of Rs 26,000 crore and the Zero Emission Technology Program will be extended for one more year. 

Lupin

Lupine Pharma Canada has launched Propranolol LA Capsules. This capsule will provide effective treatment after the discontinuation of Inderal LA.

Unichem Laboratories 

The company received Abbreviated New Drug Application, or ANDA, approval for Prasugrel Tablets from the US Food and Drug Administration (USFDA).

Anupam Rasayan India Ltd 

The company tied up with ESIM Chemicals of Austria. Under this agreement, the company can buy a stake in ESIM. The enterprise value for the acquisition is 200 million euros (Rs 1,798.1 crore). 

MPS 

MPS' subsidiary, MPS Interactive Systems, will buy a 65 per cent ​​stake in four companies. The agreement is to buy a stake for AUD 9.32 million (Rs 49.8 crore).

Adani Enterprises 

The Enforcement Directorate's investigation revealed dozens of FPIs profited from the Hindenburg disclosure.

IndiaMART InterMESH 

The company issued a letter of offer for buybacks. The buyback will open on August 31 and close on September 6. The company had announced a buyback of 12.5 lakh shares. There will be a buyback through the tender route for Rs 4000 per share.

Escorts Kubota 

The company has denied the news of selling the railway business.

Gufic Biosciences  

The board will discuss raising capital on September 1 through preferential allotment or other means by issuing equity. 

Reliance Infra  

The company received an arbitral award of Rs 992 crore and an arbitral award of Rs 103 crore against the company.

Capacite Infraproject Ltd 

Goldman Sachs Investments (MAURITIUS) sold 3.75 lakh shares at 203.19 per share.

Metal stocks 

Metal stocks are expected to hog the limelight today as The US Metals Index was up 3.2 per cent in the overnight trade. Alcoa's stock price was up 4 per cent.

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