Stocks to Watch: Cipla, NTPC, Adani group, SBI Cards, Hind Zinc, Nxtdigital, Bharat Gears
That said, here are some stocks that will likely see some market action today:
NTPC: State-owned power giant NTPC on Tuesday floated a tender to raise Rs 5,000 crore term loan from financial institutions. As per the document, the bids can be submitted till 1100 hours on August 31. The minimum amount of loan offered by banks or FIs should be Rs 500 crore or in multiple of Rs 500 crore. Read here
Adani Group shares: The group’s plans in the base metals space may be bigger than just setting up a mega alumina refinery. If the ongoing talks between the conglomerate and the Odisha government are any indication, the group is exploring an entry into the production of aluminum. Read more
Hindustan Zinc: ICICI Securities, Axis Capital and Citigroup Global Markets are among the five investment bankers selected to manage the sale of the government’s 29.53 per cent residual stake in Hindustan Zinc Ltd, an official told PTI. Read here
Cipla: The company appointed Ashish Adukia as global chief financial officer and Dinesh Jain was relieved from the additional responsibility of interim CFO. Jain will continue as senior vice-president and head of corporate finance.
SBI Cards and Payment Services: As per a report by Informist, the Reserve Bank of India is against unregulated firms issuing credit cards. The company can offer credit cards after getting an RBI licence, the report said.
Nxtdigital: The company has approved its merger with NBFC firm Hinduja Leyland Finance Limited (HLFL). The shareholders of HLFL will get 23 fully paid equity shares of face value of Rs 10 per share in Nxtdigital for every 10 shares of face value of Rs 10 each held by them in HLFL.
Bajaj Hindustan: State-owned SBI has filed an insolvency petition against the country’s largest sugar firm Bajaj Hindusthan Sugar Ltd. SBI as a financial creditor has filed the plea before the Allahabad bench of the National Company Law Tribunal (NCLT). Read here
IndoStar Capital Finance: The company is considering selling part of its stake in a home loan subsidiary for raising resources to address concerns over the private equity-backed company’s ability to continue as a going concern. Read more
Bajaj Electricals: The company on Tuesday elevated its Executive Director Anuj Poddar to Managing Director and Chief Executive Officer (CEO). It has separated the post of Chairman & Managing Director and its patron Shekhar Bajaj will continue as Executive Chairman of the company. Read here
Indoco Remedies: Indoco Remedies said it will buy 26 percent stake in Kankal Wind for Rs 86.40 lakh.
Bharat Gears: Bharat Gears will consider a bonus share issue on August 19.
Techno Electric & Engineering: The firm has got new orders for flue gas desulphurisation (FGD) worth Rs 1455 crore.
Kirloskar Oil: SBI Mutual Fund reportedly sold 0.65 per cent stake on August 12 via open market. With this, its stake now stands at 6.71 per cent
Singer: Rare Investments, the investment arm of late Rakesh Jhunjhunwala and wife Rekha, acquired 7.91 per cent stake in Singer India on Tuesday, showed block deal data. More than 20 per cent equity stake in Singer India changed hands.
Stocks under F&O ban: Balrampur Chini Mills, Delta Corp and Tata Chemicals.