Tata Communications, Jet Airways, Aurobindo Pharma, Union Bank of India, Glenmark Pharma, and L&T Tech among top stocks to watch today

Stocks to watch: The day was good for domestic equity benchmark indices, Nifty 50 and Sensex, as they ended higher on Monday, August 21, ending a two-day losing streak amid heavy buying in IT and metal stocks.

Both indices—S&P BSE Sensex and NSE Nifty—closed the day over 0.40 points higher.

The S&P BSE Sensex was up 267.43 points, or 0.41 per cent at 65,216.09, and the NSE Nifty ended 83.45 points, or 0.43 per cent, higher at 19,393.6. 

At around 8:06 am on Tuesday, August 22, the GIFT Nifty futures traded 8.5 points lower, or 0.04 per cent at 19,390.5, suggesting a flat to negative opening of the market.

Among the major developments of the day, Jio Financials made a lacklustre debut on the BSE today as its share fell 5 per cent to hit the lower circuit; the committee of creditors of Jet Airways agreed to give an extension to the payment deadline to Jalan Kalrock Consortium till September 30; Global engineering and product development digital services firm Tata Technologies Ltd on Monday said it has joined a worldwide development partnership of car manufacturers, suppliers, and other firms -- AUTOSAR -- as a premium partner.

Tata Power Renewable Energy Limited (TPREL) on Monday said that it would supply 9 megawatts of green energy to the Tata Motors plant in Pantnagar, Uttarakhand, as part of the agreement; ABB India on Monday announced that it has secured a major automation contract from Reliance Life Sciences (RLS) to automate its new manufacturing plants in Nashik; The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) on Monday ordered the central government not to take coercive steps against private sector telecommunications company Tata Communications in relation to a license fee demand of Rs 991.5 crore; and Alembic Pharmaceuticals and Aurobindo Pharma are recalling different products in the US market due to manufacturing lapses, according to the US Food and Drug Administration (USFDA).

ZeeBiz takes you through the list of stocks that can see some action on Tuesday.

Tata Communications 

The Tata Group company got a shot in the arm on Monday when the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) ordered the Centre not to take coercive steps against it in relation to a licence fee demand of Rs 991.5 crore.

Last week, the tribunal directed the Department of Telecommunications not to take any coercive action against Tata Communications, which had challenged the licence fee demand.

The company's share was up 0.76 per cent at Rs 1,707.00 at market close on Monday.

Tata Power

Tata Power Renewable Energy Limited (TPREL) on Monday said that it would supply 9 megawatt of green energy to Tata Motors plant in Pantnagar, Uttarakhand, as part of the agreement.

TPREL, a subsidiary of Tata Power Company Ltd, said in its BSE filing on Monday that it had signed a power purchase agreement with Tata Motors Limited Pantnagar Plant in Uttarakhand.

The project would be commissioned within six months from the PPA execution date. The installation will lead to an estimated carbon emission reduction of 25 tonnes of CO2/kWp in the state.

The company claimed the plant will have the largest ever on-campus capacity at a single location in Uttarakhand.

The share of Tata Power soared 4.07 per cent to Rs 239.35 at market close on Monday.

Jet Airways

The committee of creditors of Jet Airways gave the thumbs up to an extension to the payment deadline to the Jalan Kalrock Consortium until September 30.

The JKC sought a one-month extension for the payment.

The National Copany Law Appellate Tribunal, on the other hand, wanted the consortium to satisfy how the bank guarantee of Rs 150 crore can be used as security.

The share of the company traded 2 per cent higher at Rs 70.97 on Monday.

Jio Financial Services

Jio Financial Services didn't shine up to the buzz around it, as it slid around 5 per cent to hit the lower circuit limit on its debut. 

The share of the company started its debut session at Rs 265, up 1.20 per cent against Rs 261.85, the price fixed at a special price discovery session last month.

But the stock couldn't maintain its value as it fell 3.85 per cent to hit Rs 251.75, its lower circuit limit, against Rs 261.85.

Despite a faded show on Monday, the share is most likely to be on jnvestor's radar on Tuesday.

Aurobindo Pharma

Alembic Pharmaceuticals and Aurobindo Pharma are recalling different products in the US market due to manufacturing lapses, according to the US Food and Drug Administration (USFDA).

As per the US health regulator's latest Enforcement Report, the US-based subsidiary of Alembic Pharmaceuticals is recalling 82,400 bottles of Tobramycin Ophthalmic Solution in the American market.

Tobramycin Ophthalmic Solution is used to treat bacterial infections of the eye. The share Aurobindo Pharma traded 0.48 per cnet lower at Rs 853.85 at market close on Monday.

RITES/ NHPC 

NHPC has signed a Memorandum of Understanding (MoU) with RITES for a rail infrastructure facility. The MoU is for NHPC's hydropower project in Arunachal Pradesh. This agreement will include consulting services for new rail connectivity.  Rapid Loading Systems and SILO services will also be included, along with logistics and other services.

Glenmark Pharma

The company's US subsidiary has entered into an agreement with the US Department of Justice, Antitrust Division, to settle all court proceedings with the Antitrust Division. If the company complies with the terms of the agreement, including the payment of $30 million (Rs 246 crore), the Department of Justice will also dismiss the pending superseding indictment. Payments will be made in six installments.

Lemon Tree Hotels 

The company has signed a licence agreement for two properties in Bhubaneswar and Kasauli contracted under the company brands "Lemon Tree Hotel" and "Lemon Tree Mountain Resort".

Dish TV/Bharti Airtel 

The Telecom Regulatory Authority of India has given recommendations related to DTH services. The licence fee charged from DTH licences will now be zero in the coming three years.

Globus Spirits 

Motilal Oswal Midcap Fund and Nifty Microcap 250 Index Fund bought a stake in the company. and increased the share in the company from 4.88 per cent to 5.06 per cent.

Kernex Microsystems 

SANJEEV KUMAR sold 3.45 lakh shares at Rs 389.97 per share, and VIRENDER SINGH sold 1.72 lakh shares at Rs 393.33 per share. Conversely, SAMARTH LIFE SCIENCES Pvt Ltd bought 1 lakh shares at 391.13 per share.

Infosys 

The Commonwealth of Massachusetts and the Pennsylvania Department of Revenue have imposed a penalty of $1124.6 and $12.28, respectively, on the IT services provider. There is no material impact on the financials, operations, or other activities of the company.

Titan Company 

Titan Company Limited has entered into a share purchase agreement to acquire the entire 91,90,327 equity shares held by the founder of CaratLane Trading Private Limited (CaratLane) and his family members, representing 27.18 per cent of the total paid-up equity share capital of CaratLane on a fully diluted basis.

NMDC

The Government of India has extended the tenure of the appointment of Amitava Mukherjee as Director (Finance) on the NMDC board with effect from November 20, 2023, until February 29, 2028.

Union Bank of India 

The board has approved the raising of funds of Rs 5000 crore through the issue of equity shares through Qualified Institutions Placement, subject to the requisite regulatory and statutory approvals, as applicable. The floor price of the deal is fixed at Rs 91.10 per equity share for the issue.

IDFC First Bank 

The board has approved the appointment of Neerav Maniar as the Chief Compliance Officer of the bank, forming part of the senior management of the bank.

Allcargo Terminals 

The company posted its June quarter numbers on Monday, which showed profit was down 50 per cent to Rs 9 crore against Rs 18 crore a year ago. Margins were down to 16 per cent from 24.8 per cent a year ago.

Indo Amines

Gujarat Pollution Control Board has withdrawn the order to close the plant at Tundav, Vadodara. 

L&T Tech 

Macquarie has maintained an 'underweight' rating for a target of Rs 3,200. The brokerage report said that July saw some pick up in deal activity against April and May, even though budget releases remain slow and margins may have a positive bias in FY24 against estimates.

GSPL

Morgan Stanley has maintained an 'Underweight' rating on Gujarat State Petronet and has cut the target to Rs 265 apiece from Rs 319 apiece. The brokerage has given it an underweight rating due to muted and volatile volume growth.

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(With inputs from PTI)