Stocks To Watch: Sun Pharma, Zomato, LTIMindtree, SJVN, NBCC India, Gokaldas Exports, KRBL

Here are the stocks to watch before going into trade today.

<div class="paragraphs"><p>Stock graphical analysis. (Source:&nbsp; freepik)</p></div>
Stock graphical analysis. (Source: freepik)

Asian stocks looked poised to follow U.S. equities higher, with traders awaiting a raft of economic figures over the next few days for clues on the outlook for global central bank policy.

Equity futures for Hong Kong, Japan and Australia pointed to gains on Tuesday after the S&P 500 notched its first back-to-back advance in August.

In a reasonably quiet trading session, the S&P 500 hovered near 4,400. August’s risk-off mood showed some signs of abating, but the US equity benchmark is still poised for its worst month of 2023 after a higher-for-longer rates narrative took hold.

Meanwhile, Brent crude was trading below $85 a barrel and West Texas Intermediate was above $79-mark. The yield on the 10-year U.S. bond was trading at 4.20% and Bitcoin was above 26,000-level.

At 5:29 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was up 44 points or 0.23% at 19,350.5.

India's benchmark stock indices advanced after a volatile open on Monday as the real estate, pharmaceutical, and PSU banking sectors rose while fast-moving consumer goods and I.T. shares were under pressure. The indices snapped two days of losses as the Sensex rebounded to the 65,000 level, while the Nifty was trading beyond the 19,300 mark.

Overseas investors remained net sellers of Indian equities on Monday for the second straight day. Foreign portfolio investors offloaded stocks worth Rs 1,393.25 crore, and domestic institutional investors remained net buyers and mopped up equities worth Rs 1,264 crore, the NSE data showed.

The local currency strengthened 3 paise to close at Rs 82.63 against the U.S. dollar on Monday.

Stocks To Watch: Sun Pharma, Zomato, LTIMindtree, SJVN, NBCC India, Gokaldas Exports, KRBL

Stocks To Watch

Sun Pharmaceutical Industries: The drugmaker aims to spend 7-8% of its sales in the current fiscal on research and development activities to further strengthen its product portfolio across therapeutic segments. It also expects high-single-digit consolidated topline growth for FY24.

Zomato: Tiger Global's Internet Fund III Pte sold its entire 1.4% stake in the food delivery giant for Rs 1,123.85 crore via open market transactions.

SJVN: The state-run power company's unit SJVN Green Energy bagged a deal from APDCL for three solar projects of cumulative capacity 320 MW in Assam. The cost of the project is Rs 1,900 crore.

NBCC India: The company received a work order worth Rs 66.32 crore from the Indian Medical Association for planning, designing and executing of IMA House at Indraprastha, New Delhi. 

KRBL: The company submitted the Letter of Offer for the buyback of up to 65 lakh fully paid-up equity shares of Rs 1 each at a price of Rs 500 apiece for a maximum amount of Rs 325 crores through the tender offer process.

HFCL: The company has set the floor price for qualified institutional placement issue at Rs 68.61 apiece. The QIP opened on Aug. 28.

LTIMindtree: The IT firm announced a strategic collaboration with automation platform CAST AI to help businesses optimize cloud investments. The partnership will help companies save over 60% on cloud costs as they modernize legacy applications for cloud migration.

Bayer CropScience: Duraiswami Narain has resigned as the vice chairman, MD and CEO of the company with effect from Oct. 31 due to his planned repatriation to Bayer US. The company has appointed Simon Weibusch as Narain's replacement with effect from Nov. 1.

Gokaldas Exports: The company, through its wholly owned subsidiaries, to acquire UAE-based Atraco Group (Atraco), a leading manufacturer of apparel, for $55 million. The acquisition will be funded by a mix of debt and internal accruals.

Rane Madras: The board has approved divestment by way of stock sale of entire holdings in Rane Light Metal Casting Inc., USA (LMCA) held through its wholly owned subsidiary Rane (Madras) International Holdings BV, The Netherlands (RMIH).

Schaeffler India: The company has entered into a share purchase agreement for the acquisition of 100% shareholding of KRSV Innovative Auto Solutions (“Koovers”) following the board's approval.

Divis Laboratories: Madhusudana Rao Divi retired as a Director as well as Whole-time Director in view of his age and health situation with immediate effect.

Indiabulls Real Estate: The company appointed its current senior vice president Atul Chandra as Chief Operating Officer with immediate effect.

V-Mart Retail: Promoter Lalit Agarwal has executed a gift deed in favour of promoter Madan Gopal Agarwal to transfer 10.4 lakh shares being 5.27% of the paid-up share capital.

IPO Offerings

Vishnu Prakash R Punglia: The IPO was subscribed 87.82 times on its third and final day. The bids were led by institutional investors, subscribed 171.69 times, non-institutional investors, subscribed 111.03 times, retail individual investors, subscribed 32.02 times and portion reserved for employees, subscribed 12.97 times.

The IPO was subscribed 3.77 times on day one and subscribed 10.63 times on day two.

Block Deals

Zomato: Tiger Global's Internet Fund III Pte sold 12.35 crore shares (1.4%) and Apoletto Asia sold 3.2 crore shares (0.4%) while Societe Generale bought 3.84 crore shares (0.4%), Kotak Fundsindia Midcap Fund bought 2.6 crore shares (0.3%), Axis Mutual Fund bought 2 crore shares (0.2%), Morgan Stanley bought 1.54 crore shares (0.2%), among others at Rs 90.1 apiece.

Strides Pharma Science: Shasun Enterprises sold 2.3 lakh shares (0.3%) and Morgan Stanley Asia bought 2.3 lakh shares (0.3%) at Rs 438 apiece.

Star Health and Allied Insurance Company: University of Notre Dame du Lac sold 1.67 crore shares (2.85%), MIO IV Star sold 34 lakh shares (0.6%) and ROC Star Investment Trust sold 15 lakh shares (0.3%) while Fidelity bought 1.76 crore shares (3%), FGTFEBP: FIAM Emerging Markets Opportunities Commingled Pool bought 32.45 lakh shares (0.6%) and ICICI Prudential Life Insurance bought 39 lakh shares (0.7%) at Rs 610.2 apiece.

Bulk Deals

RattanIndia Power: ABARC-AST-002-TRUST sold 4.4 crore shares (0.8%) at Rs 5.6 apiece.

63 Moons Tech: Gazania Advisory sold three lakh shares (0.65%) at Rs 358.09 apiece.

Insider Trades

Sapphire Foods India: Promoter Sagista Realty Advisors sold 1.6 lakh shares on Aug. 25 and promoter Sapphire Foods Mauritius sold 16.25 lakh shares on Aug. 24.

Coforge: Promoter Hulst BV sold 1.63 crore shares on Aug. 24.

Advanced Enzyme Technologies: Promoter Advanced Vital Enzymes sold 1.3 lakh shares between Aug. 23 and 25.

DB Realty: Promoter Mohammed Gulamali Morani sold 2.1 lakh shares on Aug. 23.

Pledge Share Details

Suryoday Small Finance Bank: Promoter Baskar Babu Ramachandran released a pledge of 9.5 lakh shares on Aug. 24.

Jamna Auto Industries: Promoter Pradeep Singh Jauhar created a pledge of 52 lakh shares on Aug. 28.

Mangalore Chemicals & Fertilizers: Promoter Zuari Agro Chemicals created a pledge of 21 lakh shares on Aug. 24.

AGMs Today

Equitas Small Finance Bank, ICICI Securities, Jubilant FoodWorks, KPIT Technologies, Karnataka Bank, Maruti Suzuki India, ONGC, Panama Petrochem, Prudent Corporate Advisory Services, SBI Life Insurance Company, Tega Industries.

Who's Meeting Whom

Tilaknagar Industries: To meet analysts and investors on Aug. 31.

Sterling Tools: To meet analysts and investors on Sept. 1.

Trading Tweaks

  • Price Band Revised From 10% To 5%: Genus Power Infrastructures, Ksolves India.

  • Price Band Revised From 20% To 10%: Atul Auto.

  • Ex-date Dividend: Birla Corporation, Gmm Pfaudler, Pilani Investment and Industries Corporation, Tamilnad Mercantile Bank.

  • Ex-date AGM: Go Fashion (India), Pilani Investment and Industries Corporation, GMM Pfaudler, Birla Corporation, Tamilnad Mercantile Bank.

  • Record-date Dividend: Tamilnad Mercantile Bank.

  • Move Into Short-Term ASM Framework: Garware Hi-Tech Films, Titagarh Rail Systems.

  • Move Out Of Short-Term ASM Framework: Nil.

F&O Cues

  • Nifty August futures ended at 19,314.55, a premium of 64.25 points.  

  • Nifty August futures fell 10.93%, with 21,448 shares in open interest.  

  • Nifty Bank August futures ended at 44,500.00, a premium of 277.15 points.  

  • Nifty Bank August futures fell 4.47% with 4,513 shares in open interest.  

  • Securities in the ban period: Bharat Heavy Electricals, Escorts Kubota, GMR Airports Infrastructure, India Cements, Hindustan Copper, RBL Bank, Manappuram Finance, Sun TV, Indiabulls Housing Finance.

Stocks To Watch: Sun Pharma, Zomato, LTIMindtree, SJVN, NBCC India, Gokaldas Exports, KRBL

Research Reports