New Delhi: Indian indices closed almost flat on Monday despite an early plunge on account of damaging allegations made by US-based short-seller Hindenburg Research against SEBI chairperson Madhabi Puri Buch. However, markets shrugged off early misgivings to close marginally lower on Monday with the Sensex down 56.99 points to 79,648.92 and the Nifty slipping 20.50 points to 24,347 at market closing.
Here are stocks that are likely to remain in focus on Tuesday, August 13, 2024:
Kotak Mahindra Bank: The private lender said it will merge Sonata Finance with BSS Microfinance, both privately owned units of the bank, after the scheme was approved by the 2 companies’ respective boards. The combined entity will equal less than 2 per cent of the bank’s net worth as of March 31, 2024, according to a regulatory filing.
Power Grid Corp: The PSU giant emerged as the successful bidder in a tariff-based competitive bidding process for an inter-state transmission system. This system will be used to evacuate power from the Bhadla-III power station under the 20 GW Rajasthan REZ phase-III scheme, according to a company filing.
KPI Green Energy: The company said it had set a floor price of Rs 983 apiece for its fundraising programme via QIPs.
SpiceJet: Mumbai Airport deleted a social media post indicating a temporary disruption in the budget carrier’s operations from midnight of August 13, 2024.
Bharti Airtel: The telco has acquired a sizeable stake in British Telecom, a comoany which once owned a stake in Bharti Airtel in a a reversal of fates.
Vodafone Idea: The cash-strapped telco reported a moderation in Q1 loss to Rs 6,432.1 crore from Rs 7,675 crore in the previous quarter.
IRFC: The railway PSU reported flat Q1 revenues of Rs 6,765 crore compared to RS 6,673 crore in the year-ago period. The company’s net profit was almost flat at Rs 1,576 crore compared to Rs 1,551 crore a year ago.
HUDCO: The PSU reported a 25.2 per cent jump in net profit to RS 557.8 crore from RS 445.7 crore in the year-ago period. Net interest income rose 11.2 per cent on-year basis to Rs 724.7 crore in Q1FY25.
Consumer stocks: FMCG stocks are likely to be in focus after July CPI inflation eased to 3.54 per cent from 5.08 per cent in June. However, food inflation remained above 5 per cent in July, according to official data.
JSW Steel: The comoany said it plans to acquire a 66.7 per cent stake in coking coal mine operator M Res NSW HCC for $120 million, with provision to invest another $50 million by 2030.
ONGC: The government notified gas prices from new wells at 20 per cent more than older wells, in a positive development for navratna PSU ONGC.
Cochin Shipyard: The PSU announced the operationalisation of its international ship repair facility, worth Rs 970 crore in Kochi, Kerala on Monday.
YES Bank: Japanese lender SMBC’s global head is likely to visit India with an eye on picking up a stake in YES Bank. the Mint reported, citing people familiar with the matter.
Rattan India Enterprises: The company reported a Q1 net profit of Rs 851.3 crore, up 300 per cent from Rs 178.1 crore in the year-ago period. The comoany’s revenue rose 69.5 per cent to Rs 2,494.04 crore, on-year basis.
NBCC: The company reported that it had secured two contracts totaling about Rs 720 crore in Hyderabad and Jhansi.
Sterling and Wilson Renewable: The company secured an order for a new ohotovoltaic plant in Rajasthan, taking its total order book value to over Rs 550 crore, it said.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Stocks in News Today: From Vodafone Idea to YES Bank, here are stock that are likely to remain in focus today on August 13, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
