Stocks to watch: Shares of firms like Zomato, ZEE, Airtel, Maruti, Suzlon, ONGC, Central Bank, and others will be in focus on Wednesday’s trade.
Stocks to Watch on Wednesday, August 30: GIFT Nifty on the NSE IX traded 22.5 points, or 0.12 per cent, higher at 19,533.5, signaling that Dalal Street was headed for positive start on Wednesday. Here’s a slew of stocks that will be in focus today for various reasons.
Zee Entertainment: According to reports, Securities Appellate Tribunal (SAT) will likely hear on Wednesday plea of Punit Goenka, former managing director & chief executive officer of Zee Entertainment Enterprises, against Securities and Exchange Board of India’s (Sebi’s) confirmatory order.
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On 14 August, Sebi had in its confirmatory order restrained Punit Goenka and his father Subhash Chandra from holding any key managerial position in any listed company or Zee group entity until further orders.
Zomato: After Tiger Global, SoftBank Vision Growth Fund will likely offload 100 million shares of online food delivery platform Zomato through a block deal on Wednesday, according to reports. The size of the deal could be Rs 940 crore.
Bharti Airtel: Billionaire Sunil Mittal’s backed telecom services provider Airtel Uganda Ltd, a subsidiary of Airtel Africa plc, plans to raise 800 billion Ugandan shillings (UGX) or $216 million in an initial public offering (IPO), it said in a statement on Tuesday.
Maruti Suzuki: Maruti Suzuki India expects to invest around Rs 45,000 crore to double its production capacity to 4 million units annually in the next eight years, company Chairman RC Bhargava said at the company’s AGM on Tuesday.
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TVS Supply Chain Solutions: The Board of Directors, on Tuesday, approved the appointment of R Dinesh, executive vice chairman, as the Chairman (in executive capacity) of the company with immediate effect. It has also approved the appointment of K. Ananth Krishnan and Narayan K Seshadri as independent directors.
The Board also approved the cessation of S Mahalingam from the position of chairman and independent director, and resignation of S Ravichandran from the position of non-executive director.
Suzlon: Due to devastating impact of the Covid-19 global pandemic and the resultant disruption of the global supply chain, Suzlon Energy has decided to downsize the 285 MW wind power project, bagged in May 2018, to 168 MW. The project was located at Kutch, Gujarat.
Lupin: Lupin Pharma Canada, a wholly-owned subsidiary of Lupin Limited, launched Propranolol LA (long-acting) capsules, 60 mg, 80 mg, 120 mg, and 160 mg, in Canada.
Minda Corp: Minda Europe B.V, Netherlands, a non-operative wholly-owned subsidiary company, has been closed voluntarily. The company says it will not impact consolidated financials of Minda Corporation Limited.
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Anupam Rasayan: Chemical maker Anupam Rasayan close to acquiring Austria’s ESIM Chemicals, reports suggested. Anupam Rasayan has signed exclusivity agreement with ESIM Chemicals for proposed buyout.
ONGC: Oil and Natural Gas Corporation plans to invest Rs 2 trillion ($24.17 billion) on clean energy projects in order to meet its 2038 net-zero carbon emissions goal.
Central Bank of India: Central Bank of India has entered into a strategic co-lending partnership with IKF Home Finance Ltd to offer MSME and home loans at competitive rates.
Gulf Oil Lubricants: In an interview with a TV channel, Ravi Chawla, the managing director and CEO of Gulf Oil Lubricants, said the company is looking to stretch into the EV mobility segment in India and across the globe. This comes after the Hinduja Group company, on Monday, announced acquiring a controlling stake in EV charger maker Tirex Transmission for Rs 103 crore.
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