Stocks to watch: Concord Biotech, Yatharth Hospital, Page Ind, Indus Towers, HDFC Life, ONGC, Jain Irrigation

Stocks to watch: Equity benchmarks, the S&P BSE Sensex, and the NSE's Nifty slumped on Thursday. Sensex fell 388.40 points, or 0.59 per cent, to settle at 65,151.02, while Nifty cracked 99.75 points, or 0.51 per cent, to settle at 19,365.25.

Auto, FMCG, bank, IT, financial services, and pharma stocks were under pressure amid weak global market sentiment following the Fed's release of minutes.

Among the major developments on Thursday:

• State-run oil giant ONGC announced it was investing Rs 1 lakh crore by the end of this decade in low-carbon energy opportunities.
• Godrej Properties said that its net debt had risen 45 per cent during the April-June period to Rs 5,298 crore from the previous quarter.
• HDFC Group launched its life insurance and asset management services at the International Financial Services Centre (IFSC) in Gujarat's GIFT City.
• Yatharth Hospital announced a jump in its profit after tax (PAT) in the first-quarter results.
• Carborundum Universal Ltd collaborated with drone maker IdeaForge Technology to jointly develop products to make drones lighter, stronger, and more durable.
• Motilal Oswal Alternates said that the company was targeting raising Rs 2,000 crore in a realty fund which will primarily lend to residential developers for buying land.
• GMDC increased the amount of a dividend it had already announced.
• Transindia Real Estate postponed its Q1 earnings to August 29; Veerhealth Care declared a bonus share of 1:1.
• Railway company IRCON released its annual report on Thursday, saying that as of March 31, its order book stood at Rs 35,195 crore.
• Nykaa Founder and CEO Falguni Nayar said in the company's earnings call that its gross merchandise value for the quarter was around Rs 26.7 billion, which is a 24 per cent year-on-year growth. 

At around 8:00 AM on Friday, August 18, the GIFT Nifty futures traded 59.5 points lower, or 0.31 per cent at 19,309, suggesting a negative opening of the market. 

ZeeBiz takes you through the shares that can be in focus on Friday, August 18, 2023.

Concord Biotech 

Shares of the company are slated to list on bourses today. 

ONGC

State-run oil company ONGC on Thursday announced it was investing Rs 1 lakh crore by the end of this decade in low-carbon energy opportunities, including renewables and green hydrogen.

In a statement, the company said that it had detailed a "roadmap to scale up its low-carbon energy portfolio significantly". 

"ONGC has aligned itself with India's ambitious goals and is wholeheartedly contributing to the nation's aim to curtail carbon emissions by 1 billion tonne and simultaneously reduce carbon intensity by 45 per cent by 2030," it said. The company's share was trading down 0.78 per cent to Rs. 177.65. 

Godrej Properties

Real estate company Godrej Properties said on Thursday that its net debt jumped 45 per cent during the April-June quarter of this financial year to Rs 5,298 crore against Rs 3,649 crore it reported in the previous quarter.

The company said that the increased debt came on the back of aggressive land purchases across major cities. Its debt-equity ratio stands at 0.56. The company's share price ended flat at Rs 1,550 on Thursday.

HDFC Group

Lending giant HDFC Group launched its life insurance and asset management services on Thursday in GIFT City, Gujarat.

The company said that while HDFC International Life and Re had been set up by HDFC Life, HDFC AMC International (IFSC) Ltd had been established by HDFC Asset Management Company to offer services to non-resident Indians (NRIs) and the global Indian diaspora.

HDFC Life's share was up 0.26 per cent at Rs 626.55 at market close on Thursday.

Yatharth Hospital 

On Thursday, newly listed company Yatharth Hospital reported a 73.11 per cent jump in its consolidated profit after tax, which soared to Rs 190.36 crore in the April-June quarter from Rs 109.36 crore in the year-ago period.

The company's revenue from operations rose 39 per cent to Rs 1,552.63 crore in the first quarter from Rs 1,116.52 crore in the correponding period last year.

The company's expenses also jumped to Rs 1258.95 crore in Q1 from Rs 959.49 crore in the same quarter last year.

The company's share fared poorly on the BSE on Thursday as it closed the day down 4.52 per cent at Rs 311.70.  

ideaForge 

Dronemaker ideaForge and Carborundum Universal announced on Thursday that they would jointly develop cutting-edge nanomaterial-reinforced products for drones.

These products will make drones lighter, stronger, and more durable, the companies said further.

The share of IdeaForge, which made its share market debut in July, was trading 0.97 down at Rs 1,030 at market close on Thursday. 

Changes in the Nifty Next 50 Index from September 29

ACC, NAACA, HDFC AMC, Indus Towers, and Page Industries will be eliminated from the Nifty Next 50. PNB, TVS Motor, Trent, Zydus Life, and Shriram Finance are to be added to the Nifty Next 50.

Reliance Industries 

According to Nuvama, Jio Financial Services will be out of FTSE Russell, a subsidiary of the London Stock Exchange Group, from August 22. Jio Financial Services did not start trading even after 20 days.

Zydus Lifesciences  

The company received final approval from the US FDA for Doxepin Tablets 3,6 MG. The annual sales of the product in the USA are $4.34 crore (approximately Rs 361 crore).

Bata India 

The company clarified the news of its partnership with Adidas and said it continues to explore strategic tie-up opportunities for the Indian market.

South Indian Bank 

The Reserve Bank of India, or RBI, approved the appointment of PR Seshadri as MD & CEO. He is appointed for a term of three years, with effect from October 1, 2023. PR Seshadri was the former MD of Citibank (Singapore).

NLC India 

The company has entered into a long-term power usage agreement with Rajasthan Urja Vikas Nigam Ltd. The agreement is for the supply of 300 MW of solar power under the CPSU scheme in Rajasthan.

Piramal Pharma 

The rights issue was subscribed 1.27 times on Thursday. 

Axis Bank

Axis Bank, on Friday, announced the appointment of Subrat Mohanty as a whole-time director on the company’s board, with effect from May 1, 2023.

LTIMindtree

Aflac chose LTIMindtree as its digital transformation partner for application modernization and cloud transformation.

ONGC 

State-owned Oil and Natural Gas Corporation (ONGC) is investing Rs 1 lakh crore by the end of this decade in low-carbon energy opportunities, including renewables and green hydrogen, as it looks to transform into a low-carbon energy player, the company said.

Jain Irrigation

The company is planning to raise around Rs 200 crore through preferential allotment of equity share warrants. The price for the 1,63,21,607 equity share warrants—to be worked out under a certificate of the statutory auditor—iis likely to be about Rs 46.64 per equity share, the company said in a regulatory filing.

NTPC 

The board approved hiving-off NTPC's coal mining business, consisting of six coal mines, to its wholly-owned subsidiary, NTPC Mining Limited through a Business Transfer Agreement (BTA). 

SJVN

State-owned SJVN Ltd has inked two pacts with Punjab State Power Corporation Ltd (PSPCL) to supply 1,200 MW of solar power from its projects, Punjab Chief Minister Bhagwant Mann said here on Thursday.

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(With inputs from PTI)