Indian benchmark indices ended Tuesday session with modest gains on the back of positive global cues. Eased tensions in the Middle East after ceasefire talks between Israel and Hamas, along with hopes of rate cuts in the near term. BSE Sensex gained 378.18, or 0.47 per cent, to end at 80,802.86. NSE's Nifty50 rose 126.20 points, or 0.51 per cent, to close at 24,698.85. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, August 21, 2024:
Corporate actions today: Shares of Sprayking will trade ex-bonus today. Shares of Bharat Bijlee, Credo Brands Marketing, Engineers India, Emami Paper Mills, Hindustan Aeronautics, India Glycols, ISGEC Heavy Engineering, ITDC Cementation, KPI Green Energy, Linc, Pfizer, Satia Industries, Symphony, Uniparts India and more will trade ex-dividend today.
Cyient DLM: Promoter entity Cyient is likely to offload 14.5 per cent stake, or 1.15 crore shares, in the design-led firm via block deals on Wednesday, August 21. The deal size is expected to be Rs 860.9 crore, with a floor price of Rs 748.65 per share. After the deal, Cyient’s shareholding in Cyient DLM will decline from 66.66 per cent to 52.16 per cent.
PNB Housing Finance: General Atlantic Singapore Fund is likely to sell a 5.1 per cent equity stake in the company through a block deal, suggest some media reports. The floor price for the deal is said to be around Rs 775 per share, with the offer size likely to be Rs 1,032.7 crore.
Larsen & Toubro: The Bombay High Court has quashed and set aside the show-cause notice issued by the GST authorities. The company had filed a writ petition in the Bombay High Court against the show-cause notice issued by the Principal Commissioner of GST and Service Tax, Mumbai, regarding a service tax demand of Rs 2,237 crore on an erstwhile subsidiary for tax already paid by it.
Ola Electric Mobility: The recently listed EV maker's scooters S1 X 3 kWh and S1 X 4 kWh have received certification for compliance with the eligibility assessment requirements as per the production linked incentive (PLI) scheme for the automobile and auto components industry. Both scooters have successfully met the stringent minimum localization criteria of 50 per cent, as mandated by the Ministry of Heavy Industries.
NHPC: An incident of a landslide occurred at NHPC's 510 MW Teesta-V Power Station (Sikkim), affecting the TRT (tail race tunnel) gate hoist structure and part of the GIS building. The power station is currently not operational and is undergoing restoration works after the flash flood of October 2023.
Exide Industries: The auto component maker has further invested Rs 75 crore in its subsidiary Exide Energy Solutions on a rights basis. With this investment, the total investment made by the company in the subsidiary stands at Rs 2,652.24 crore. There is no change in the shareholding percentage of the company in the subsidiary following this acquisition.
Petronet LNG: The natural gas supplier has entered into a memorandum of understanding (MoU) with LTL Holdings (LTL) of Sri Lanka for the supply of LNG to LTL’s dual-fuelled power plant(s) in Kerawalapitiya, Colombo. The proposed supply of LNG from Petronet's Kochi LNG terminal would be through LNG ISO tank containers involving a multi-modal transport system.
Tata Chemicals: SES ESG Research (SES) has assigned an environmental, social, and governance (ESG) score (Adjusted) of 69.4 (Grade B) to Tata Chemicals based on data pertaining to FY24. The company did not engage SES for this ESG rating. SES independently prepared the report based on FY24 data available in the public domain.
GE T&D India: Promoters GE Grid Alliance BV and Grid Equipments are reviewing their shareholding structure in the company to simplify it. In this regard, they will evaluate the possibility of a minority stake sale in the company.
Genus Power Infrastructures: The metering solutions provider's wholly-owned subsidiary has received three letters of award (LoA) totaling Rs 3,608.52 crore for the appointment of advanced metering infrastructure service providers (AMISPs).
BGR Energy Systems: The civil construction company has received an intimation of termination of contract from Jharkhand Urja Sancharan Nigam (JUSNL project) concerning the supply, installation, testing, and commissioning of 132/33 kV GIS at Sarath, Sundernagar, and Chattarpur. There is no material impact on the financials, operations, or other activities of the company.