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Sensex up 54 pts, Nifty holds 17,600; NDTV gains 5%, Adani Enterprises 4%
Business Standard

Stocks to watch: NDTV, RIL, Canara Bank, Tata Motors, NTPC, NHPC, Hindalco

Stocks to watch today: Adani Group plans to buy 29.18 per cent stake in NDTV; Canara Bank plans to raise up to Rs 3,500 crore via tier II bonds.

stocks to watch | Buzzing stocks | NDTV

Lovisha Darad  |  New Delhi 

stock markets

today: are likely to start on a muted note amid mixed global cues. As of 7:05 am, the SGX Futures quoted 17,567 levels, indicating a flat start on the bourses.

Globally, the US saw sharp decline for the third consecutive session on Tuesday. Both Dow Jones and the S&P 500 dropped 0.4 per cent and 0.2 per cent, respectively, whereas NASDAQ Composite remained unchanged.

However, Asia-Pacific gained despite negative Wall Street action on Wednesday. Japan’s Nikkei 225, Australia’s S&P 200, South Korea’s Kospi advanced up to 0.5 per cent.

Meanwhile, back home, here is a list of stocks that may see some action in trade on Wednesday:

NDTV: The media arm of Adani group plans to acquire indirect stake of 29.1 per cent in through conversion of loans into equity stake. The group has also initiated an open offer of 26 per cent additional stake in from its shareholders, even as the broadcaster said its founder-promoters had not consented to the exercise of rights. READ MORE

Canara Bank: The public sector lender plans to raise up to Rs 3,500 crore via tier II bonds in tranches to enhance capital adequacy ratio and meet growth requirements. The first tranche of tier II bonds will likely hit market on Thursday, August 25 with a primary size of Rs 1,000 crore. The proposed offering will carry a green shoe option of Rs 1,000 crore. READ MORE

Hindalco: Chairman Kumar Mangalam Birla said that the company has reserved around $8 billion of capital expenditure for its arm Novelis India over the next five years. Further, around 70 per cent of the company's consolidated cash flows will be allocated towards high-growth downstream segments, including EVs, mobility, batteries and consumer durables. READ MORE

Tata Motors: The automaker has signed a power purchase agreement (PPA) with Tata Power to develop a 7.25 Mwp (Megawatt peak) onsite solar project at its commercial vehicle manufacturing facility in Jamshedpur. The project aims to increase renewable energy portfolio at its manufacturing facility and continue trajectory to achieve the RE100 goals. READ MORE

Reliance Industries: The retail arm, Reliance Retail, has entered the FMCG space as it takes its private label brands, sold at its supermarkets and hypermarkets, Reliance Fresh and Reliance Smart, to general trade. They plan to sell groceries, personal care products, and home care products. Over a period, the company may also come up with stock keeping units (SKU) only for the general trade. READ MORE

NTPC: The state-owned power giant will raise Rs 2,000 crore through issuance of non-convertible debentures on a private placement basis on Thursday, August 25. The proceeds will be utilized to fund capital expenditure, refinancing of existing loans and other general corporate purposes.

Interglobe Aviation: An engine of IndiGo aircraft 6E 6097 scheduled to fly to Mumbai with 187 passengers on board developed a snag at the Goa airport on Tuesday, August 23. Therefore, all the passengers were disembarked safely by the rescue teams of the Indian Navy and the aircraft was taken to the taxi bay.

Chennai Petroleum Corporation: The company has formed a joint venture with parent company Indian Oil Corp (IOC) and others to build a 9 MMTPA (Million metric tonne per annum) refinery at Rs 31,580 crore in Tamil Nadu. The new refinery will produce liquefied petroleum gas, BS VI quality gasoline, diesel and aviation turbine fuel.

SpiceJet: Chairman and Managing Director Ajay Singh said that the airline operator is exploring multiple options, including stake sale to other airlines, to raise up to Rs 2,000 crore. Apart from eyeing investments through external parties, the funds were also being raised through the government supported emergency credit line guarantee scheme (ECLGS).

NHPC: The company signed an initial pact with Bharat Electronics Ltd (BEL) to set up a large capacity solar equipment manufacturing facility.

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First Published: Wed, August 24 2022. 07:49 IST