Stocks to watch, Aug 20: Zomato, IndusInd Bank, Saraswati Saree Depot

Stocks to watch on August 20: According to reports, a significant deal is expected on Tuesday, with Antfin Singapore planning to sell 13.6 crore shares, representing 1.54 per cent of the total equity

Stocks to watch on Tuesday, August 20, 2024: Indian bourses are expected to see a positive opening on Tuesday, tracking bullish sentiment from global markets. The GIFT futures also suggested a higher start, as they quoted 64 points higher than Nifty50 futures 24,659 levels.

Asia-Pacific markets rose across the region on Tuesday, buoyed by Wall Street's rally and the release of key economic data from China. As estimated, China's loan prime rates were maintained at 3.35 per cent and 3.85 per cent. 

Overnight in the US, the S&P 500 increased by 0.97 per cent, the Nasdaq Composite rose by 0.21 per cent, and the Dow Jones Industrial Average gained 0.58 per cent.

 

In Asia this morning, Japan's Nikkei 225 soared 1.57 per cent, with the broader based Topix index rising by 0.97 per cent.  South Korea's Kospi surged 0.65 per cent, while the Kosdaq shot up by 0.88 per cent.

Australia's S&P/ASX 200 was up by 0.28 per cent. Futures for Hong Kong’s Hang Seng index were nearly flat, up by 0.04 per cent at 17,577 levels.

Meanwhile, back home here are the top stocks to watch on Tuesday: 

Zomato Ltd: According to reports, a significant deal is expected on Tuesday, with Antfin Singapore planning to sell 13.6 crore shares, representing 1.54 per cent of the total equity of Zomato, via a block deal.

IndusInd Bank: The Reserve Bank of India has granted approval to IndusInd Bank to establish a wholly owned subsidiary dedicated to the asset management business of mutual funds. The bank has also received approval to infuse equity capital into the newly formed asset management subsidiary.

Saraswati Saree Depot: The company’s shares are set to debut on the stock exchanges on Tuesday. Ahead of the listing, the company’s shares are trading with a grey market premium (GMP) of Rs 46. With the upper price band set at Rs 160, the stock is anticipated to list at a 29 per cent premium over the issue price.

Nucleus Software: The board will meet on August 22 to consider a share buyback, which would be the company's third buyback following those in 2017 and 2021. The buyback could be executed via either the tender offer route or the open market route.

DCM Shriram: On August 19, the company commissioned a new Hydrogen Peroxide (H₂O₂) plant at its chemical complex in Jhagadia, Bharuch District, Gujarat. The plant has a capacity of 52,500 tonnes per annum and will use hydrogen produced at the same site.

Tata Consumer Products: The company closed its rights issue on August 19, which aimed to raise up to Rs 3,000 crore at a price of Rs 818 per share.

Bajaj Auto Ltd: The company will increase its accounting provision for deferred tax by Rs 211 crore due to recent regulatory changes under the Finance Act, 2024. This adjustment follows the withdrawal of the indexation benefit on long-term capital gains from debt mutual funds purchased before April 1, 2023, and a reduction in the applicable tax rate.

Poly Medicure: The company opened its Qualified Institutional Placement (QIP) issue on August 19, setting a floor price of Rs 1,880.69 per share. According to media reports, the issue size is expected to be around Rs 1,000 crore.

HCL Tech: The board of HCLTech has appointed Shiv Walia as the company’s new Chief Financial Officer, effective September 6.

Motilal Oswal: The company’s Board of Directors has approved the issuance of non-convertible debentures (NCDs) with a base issue size of Rs 100 crore. The issuance includes a green shoe option to retain oversubscription of up to Rs 100 crore, bringing the total potential offering to Rs 200 crore.

Sequent Scientific: The pharmaceutical company, in partnership with Mepro Pharmaceuticals, has received prequalification (PQ) approval from the World Health Organization (WHO) for Albendazole, an active pharmaceutical ingredient (API).

Sapphire Foods India: The company has fixed September 5, 2024, as the record date for determining the entitlement of equity shareholders for the purpose of subdivision/split of existing equity shares.

Vishnu Chemicals: The company announced the 100 per cent equity acquisition of Jayansree Pharma Pvt Ltd (JPPL) at an enterprise value of Rs 51.99 crore.

Finkurve Financial Services: The company has entered into a co-lending arrangement with RBL Bank. This collaboration establishes a significant strategic partnership aimed at offering gold loans for a superior customer experience using a digital lending platform.

Hazoor Multi Projects: The company emerged as the lowest bidder for a project of the Maharashtra State Infrastructure Development Corporation (MSIDC) worth Rs 274 crore.

Allcargo Logistics: Allcargo International Supply Chain (ISC) reported that the LCL volume for July 2024 stood at 818,000 cubic metres, similar to its highest-ever monthly volume recorded in August 2022.

Hi-Tech Pipes: The company plans to raise funds worth up to Rs 600 crore.