New Delhi: Indian indices closed at record highs on Thursday buoyed by positive sentiment led by the Reliance Industries AGM and investor optimism around rate cuts ahead of the US Federal Reserve’s FOMC meeting next week. The Sensex rose 349.05 points to close at a new all-time high of 82,134.61, while the Nifty was up 99.60 points a new high of 25,151.95. Here are stocks that are likely to remain in focus on Friday, August 30, 2024:
Adani Enterprises: The flagship company of Gautam Adani-led Adani Group plans to raise Rs 800 crore via issuance of non-convertible debentures starting September 4 and ending on September 17, 2024. The issue may close earlier subject to the subscription status.
Canara Bank: The state-owned lender Rs 3,000 crore from the issuance of Tier I Bonds to fund business growth, it said in a regulatory filing.
IndiGo: The airline’s promoter Rakesh Gangwal’s family trust sold a 5.24 per cent stake for Rs 9,549 crore via open market transactions. Gangwal has been trimming his stake in the air carrier since a fallout with co-founder Rahul Bhatia in 2022.
Infosys: The IT giant will offer generative AI-powered solutions to telcos in partnership with chipmaker NVIDIA, it said in a regulatory filing that emphasised the expansion of the partnership between the domestic IT giant and the chipmaker.
IHCL: Tata Group’s hospitality arm announced the opening of the Gateway Bekal, a full-service hotel in Bekal, Kerala which is a 151-key facility.
IREDA: The renewable energy financing company’s board approved a Rs 4,5000 crore fundraise proposal in multiple tranches via any means ranging from QIP to FPO among others.
LIC: India’s largest life insurer was slapped with a tax demand notice worth Rs 605.58 crore for short payment of GST in FY20, it said in a regulatory filing,
NHPC: The hydroelectric power construction company received shareholders’ to enhance its borrowing limit to Rs 50,000 crore from Rs 40,000 crore earlier during its AGM, according to a regulatory filing.
NTPC: The state-owned PSU commissioned 160 MW capacity out of the total 320 MW capacity in its Bhainsara solar project in Jaisalmer, Rajasthan, taking NTPC’s total installed and commercial capacity to 76,294 MW, it said in a regulatory filing.
PB Fintech: The insurance marketplace operator saw a 2.1 per cent stake sale worth over Rs 1,600 crore by China’s Tencent Corp which was picked up by SBI MF and Societe Generale, among other entities. Tencent still holds a 2.13 per cent stake in PB Fintech.
RIL: Reliance Industries plans to focus on AI offerings while launching its AI cloud offering in September, said group chairman Mukesh Ambani during its AGM on Thursday.
SBI: The country’s largest lender is working on a new digital platform said former SBI chairperson Dinesh Khara on Thursday during the Global Fintech Fest 2024.
SpiceJet: The budget carrier was placed under an enhanced surveillance mechanism by DGCA for being in non-compliance with certain rules. The cash-strapped air carrier also decided to cut the jets it flies and send 150 cabin crew members on leave without pay for 3 months.
Sugar stocks: The stocks of sugar producers will be in focus after the Centre on Thursday reversed last year’s ban to allow for the use of sugarcane juice and sugar syrup to produce ethanol in the 2024-25 ethanol supply year (ESY).
Welspun Living: Welspun Group Master Trust trustee Balkrishan Goenka and family sold a 3.9 per cent stake worth Rs 781 crore in the company via open market transactions.
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Stocks in News Today: From Adani Enterprises to SpiceJet, here are stocks that are likely to remain in focus on Friday, August 30, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
