GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Tuesday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded lower as the index was down 34 points or 0.14% at 25,037 indicating a lower start for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. On Monday, the NSE Nifty 50 closed the session 187 points or 0.76% higher at 25,010.60, while the BSE Sensex rose 612 points or 0.75% to close at 81,698.

Stocks to watch on August 27, 2024

Reliance Industries

The commissions paid by Reliance Jio to its dealers in FY24 were the lowest compared to spending by peers Bharti Airtel and Vodafone Idea, according to estimates from Jefferies. The telecom operator’s dealer commissions were at 3% of sales compared to Bharti Airtel’s 4% and Vodafone Idea at 8.4%.

Zee Entertainment shares soar 15% after settlement agreement with Sony Stocks To Watch: Tata Consumer Products, Varun Beverages, JSW Infra, IOC, Vodafone Idea Stocks To Watch: HUL, NBCC, ICICI Prudential, Zydus Life, Wipro Hero Motors files DRHP to raise Rs 900 crore through IPO

Godfrey Phillips

US-based proxy advisory firm Glass Lewis has advised the shareholders of Godfrey Phillips to vote “against” the special resolution seeking the reappointment of Bina Modi as Managing Director at the Annual General Meeting on September 6. Glass Lewis has backed Samir Modi’s presence on the board. Godfrey Phillips India has scheduled its Annual General Meeting on September 6, 2024, in which it has put five ordinary resolutions and one special resolution for approval from its shareholders.

BHEL

Bharat Heavy Electricals Limited (BHEL) on Monday announced that it has secured orders worth more than Rs 11,000 crore from Adani Power and its subsidiary, Mahan Energen, for supply of equipment (Boiler, Turbine, Generator) and supervision of erection & commissioning for three power projects at Kawai, Rajasthan and Mahan, Madhya Pradesh. Each of the three projects, it added, will be of 2×800 MW rating.

Sunteck Realty

Mumbai-based property developer Sunteck Realty is looking to double the gross development value (GDV) of its portfolio from 30,000 crore to 60,000 crore in three years on the back of a boom in residential sales in the city. GDV is the estimated revenue or sale anticipated from the completed development. The Dubai project, with a GDV of Rs 9,000 crore, marks the first milestone on the path to achieving this goal, said Kamal Khetan, chairman and managing director.

UltraTech Cement 

UltraTech Cement has raised $500 million through a sustainability-linked loan with contributions from six banks, said the company in an exchange filing on Monday. The fundraise marks the Aditya Birla Group-backed cement maker’s second sustainability-linked financing after it raised $400 million in 2021.

HCLTech

HCLTech has extended its strategic AI-driven engineering services and digital process operations (DPO) partnership with Xerox, said the company in an exchange filing on Monday. The company will assist Xerox with its fundamental and structural redesign to position the company for long-term profitable and sustainable growth.

PI Industries 

PI Industries said that Manikantan Viswanathan, Chief Financial Officer, retires from the company having attained the age of superannuation from the closing of business hours of August 26. The board has appointed Sanjay Agarwal, as Group Chief Financial Officer of the company.

Akums Drugs and Pharmaceuticals

Akums Drugs and Pharmaceuticals reported its fiscal Q1 earnings with a profit of Rs 61.21 crore in comparison to a loss of Rs 187.43 crore recorded during the corresponding quarter of the previous financial year. It posted revenue from operations at Rs 1019.11 crore, up 5.1 per cent as against Rs 969.89 crore during the same period of FY24. 

Lemon Tree Hotels 

Lemon Tree Hotels has signed a license agreement under its upscale brand, Aurika Hotels & Resorts, with Aurika, Surat in Gujarat. The property shall be operated by Carnation Hotels, a subsidiary and management arm of Lemon Tree Hotels and is expected to open in FY30.

GPT Infraprojects

The company’s fundraising committee has given a nod for a qualified institutional placement (QIP) to raise funds. It set the floor price for the QIP at Rs 183.83 per equity share. The company may offer a discount of up to 5% on the floor price at its discretion.

KPI Green Energy 

The company has received letters of intent for 13.30 MW of green energy projects. Its wholly-owned subsidiary Sun Drops Energia will develop the projects, said KPI Green Energy in a regulatory filing.