Paytm, Amber Enterprises, pharma stocks, defence stocks, RIL and Vedanta among top stocks to watch today

Stocks to watch: Benchmark indices lost early morning pace in the later session to end in the red on Thursday, August 24, snapping a three-day winning streak on the bourses. The market witnessed heavy selling in auto, financial services, pharma, metals, and oil and gas stocks towards the end of the day.

At the close of the market, the BSE Sensex was down 0.28 per cent, or 180.96 points, at 65,252.34, and the NSE Nifty was down 0.29 per cent, or 57.3 points, at 19,386.7. 

The latest MPC meeting showed that India's monetary policy committee (MPC) will closely monitor the factors impacting inflation and take necessary action, although it expects the recent spike in food prices to be short-lived.

Chandrayaan-3's impact was clearly visible on aerospace and defence stocks on Thursday as companies like Hindustan Aeronautics, BHEL, Paras Defense, Centum Electronics, L&T, and Mishra Dhatu Nigam Ltd hit their 52-week highs.

One of the major developments of the day was the expansion of the BRICS group of nations, which added six new members: Argentina, Ethiopia, Egypt, Iran, Saudi Arabia, and the UAE. After new inclusions, the total number of countries has flexed to 11 in the group, which came into existence in 2010.

The poor run of Jio Financial Services Ltd on the bourses continued on Thursday as it went lower by 5 per cent to hit the lower circuit limit for the fourth consecutive day. The stock declined 4.99 per cent, to Rs 215.90 on the BSE on Thursday.

At around 8:02 am on Friday, August 25, the GIFT Nifty futures traded 121 points lower, or 0.62 per cent at 19,269, suggesting a negative opening of the market.

ZeeBiz takes you through the list of stocks that can garner attention on Friday.

Infosys

Indian IT services Infosys on Thursday announced a three-year partnership with 22-time Grand Slam champion Rafael Nadal to rope him in as an ambassador for the brand and Infosys' digital innovation.

To mark Nadal's first-ever collaboration with a digital services company, Infosys and Nadal's coaching team are developing an AI-powered match analysis tool, the Bengaluru-headquartered company said in a release.

The last time a player of such high stature became the brand ambassador of an Indian company was American golfer Tiger Woods, who inked a deal with Hero MotoCorp in 2014.

Pharma stocks

Indian pharma companies got a boost on Thursday as a Fitch Ratings report said that the government guidelines mandating physicians prescribe only generic drug names face execution challenges and are unlikely to impact the profitability of pharmaceutical companies in the domestic market.

The report further said that India's domestic pharmaceutical market is mainly a branded generics market in which pharma companies sell off-patented drugs under their own brand names at varying prices.

On Thursday, this development can put a spotlight on pharma stocks such as AstraZeneca Pharma, Dr Reddy's, Max Health, Sun Pharma, Gland Pharma, IPCA Lab, Biocon, and Aurobindo Pharma. 

HAL, Bharat Electronics, Bharat Forge, and Bharat Dynamics

The defence ministry on Thursday approved capital acquisition proposals worth approximately Rs 7,800 crore that included the procurement of an electronic warfare (EW) suite for Mi-17 V5 helicopters.

The EW suite will be procured from Bharat Electronics Limited (BEL).

The ministry said in a statement, "A Defence Acquisition Council (DAC) meeting, held under the chairmanship of Defence Minister Rajnath Singh, accorded Acceptance of Necessity (AoN) for capital acquisition proposals worth approximately Rs 7,800 crore. To enhance the efficiency of the Indian Air Force, the DAC has granted AoN for the procurement and installation of the Electronic Warfare (EW) Suite on Mi-17 V5 helicopters under the Buy (Indian-IDDM) category," it said.

One 97 Communications (Paytm) 

A block deal is likely in Paytm shares today. ANTFIN may sell 2.27 crore (3.6 per cent stake) shares through a block deal. Antfin holds a 13.49 per cent stake in the company. Recently Antfin sold a 10.3 per cent stake to Vijay Shekhar Sharma (Resilient Asset Management).

The company launched India's Festive Wallet Outlook 2023

Amber Enteprises 

As per reports, ASCENT Investments may sell a 4 per cent stake in the company through a block deal. ASCENT Investments is likely to sell a stake at Rs 2800-2815.3 per share. It holds a 9.76 per cent stake in the company. 

Brightcom Group 

Enforcement Directorate (ED) raided the premises of the promoter and auditor of Brightcom Group and recovered Rs 3 crore from the premises of auditor P Murali Mohan Rao. Board meeting to be held on August 27 on matters related to SEBI.

Telecom Companies

Jio added 2.27 million customers in June. Bharti Airtel added 14.1 lakh customers, Vodafone Idea lost 12.9 lakh customers and BSNL lost 18.9 lakh customers in June. 

Vedanta 

The company won an arbitration award in the Rajasthan block case. The company ]had challenged the government's demand for additional benefits. 

Aurobindo Pharma

As per reports, promoters can sell stakes in the injectables business ahead of that they demerge this business, and then part will be sold. Injectables business is estimated at Rs 16,500 to Rs 20,000 crore.

Union Bank of India 

The price band for the Qualified Institutional Placement (QIP) is fixed at Rs 86.55 a share at a 4.99 per cent discount from the floor price of Rs 91.10 per share.

Supreme Industries  

The company will buy PVC-O, HDPE, and PVC business of Parvati Agro Plast. An agreement was signed for purchase on a slump sale basis for Rs 235 crore. Plant, machinery, and trademarks are also included in the purchase of the business. The acquisition will add 36,000 MT of annualised capacity to the Pipes Division. The company will also get access to O-PVC pipe technology.

Astra Microwave Products 

The company received orders worth Rs 158 crore from DRDO, ISRO, and DPSU. Order placed for supply of sub-systems for Satellite Sub-systems, Airborne Radar, Radar, and EW projects. 

Granules India 

The company received the Accreditation Certificate of Foreign Drug Manufacturer from the Pharmaceuticals and Medical Devices Agency (PMDA), Japan for its Jeedimetla facility, located at Jeedimetla, Quthbullapur Mandal, MedchalMalkajgiri District, Hyderabad, Telangana. The certification has been received for accreditation categories of non-sterile Drugs, Packaging, Labelling, and Storage of Drugs. 

Hero MotoCorp 

The company launched 'Naya Glamour' in a new avatar. Two variants of i3S technology launched in the 125 cc segment. The showroom price of the Drum variant is Rs 82,348 whereas the showroom price of the Disc variant is Rs 86,348.

Reliance Industries

The company will manage three iconic hospitality projects in association with Oberoi Hotels. Mumbai's Anant Vilas Hotel to manage UK's Stoke Park, Gujarat project.

Kaynes Technology India 

The company signed a Memorandum of Understanding (MoU) with the Government of Karnataka to increase electronic manufacturing with an investment of Rs 3,750 crore. 

Garden Reach Shipbuilders & Engineers  

The company signed a MoU with the DEMPO Group of Goa to launch a collaboration model. Goa to work together on building commercial vessels at Gujarat's Bhavnagar Shipyard. 

Monte Carlo Fashions 

The company invested an additional Rs 2 crore in subsidiary Monte Carlo Home Textiles. A total of 20 lakh shares were allotted to the company and the total investment in  Monte Carlo Home Textiles now stands at Rs 15.70 crore.

Bharti Airtel 

Lion Meadow Investment was fined Rs 1 crore for violation of stake purchase in Bharti Telemedia by the Competition Commission of India. 

NTPC

The Competition Commission of India imposed a fine of 40 lakh on transactions in the purchase of a stake in Ratnagiri Gas & Power. The company got the order on August 22.

Bajaj Finserv

Nomura double upgrades to 'buy' raised target price by 7 percent. 

Power Mech Projects

Board to consider raising funds. 

Birlasoft

Nomura initiated coverage on Birlasoft with a 'buy', target at Rs 610 apiece (implies 28 per cent upside).

RBL Bank

Foreign Company, CDC GROUP PLC sold 99.42 lakhs (1.66 per cent) shares at Rs 230.02 per share. Stake decreased to 8.68 per cent from 10.34 per cent. 

Kfin Tech

Jefferies has initiated a 'buy' on the stock for a target of Rs 500 apiece.

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(With PTI inputs)