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Stocks to Watch, Aug 31: Sula Vineyard, RVNL, Natco Pharma, Kamat Hotels

Stocks to Watch on today, August 31, 2023: Verlinvest Asia PTE is seeking to divest up to a 12.56 per cent stake in Sula Vineyards Ltd through a block deal today

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Nikita Vashisht New Delhi
Stocks to Watch on Thursday, August 31, 2023: Amid lack of major domestic directional cues, equity markets will resort to global trends on Thursday. The monthly expiry of the August F&O expiry, however, may infuse volatility at the bourses today.

At 7:55 AM, Gift Nifty was flat at 19,487. Elsewhere in Asia, markets largely rose as China's factory activity contracted for a fifth straight month in August.

Hong Kong's Hang Seng index popped 0.8 per cent, and mainland Chinese stocks were in negative territory. Japan's Nikkei 225 advanced 0.58 per cent, and Australia's ASX200 added 0.1 per cent. South Korea's Kospi, however, fell 0.26 per cent as industrial production slid 8 per cent year-on-year in July.

Overnight, the S&P500 index climbed 0.38 per cent in the US, while the Dow Jones Industrial Average added 0.11 per cent after US annual gross domestic product growth for the second quarter was downwardly revised on Wednesday to 2.1 per cent from the previous 2.4 per cent forecast. The tech-heavy Nasdaq Composite advanced 0.54 per cent.

Here's a list of stocks to watch today:

Aeroflex Industries: Flexible flow solution products maker Aeroflex Industries is expected to list at the bourses on Thursday, August 31. According to IPOwatch.com, the shares are commanding a grey market premium of Rs 65, or 36 per cent, over the issue price of Rs 180 per share.  

Adani Group: Millions of dollars were invested in some publicly traded stocks of India's Adani Group via "opaque" Mauritius funds that "obscured" involvement of alleged business partners of the Adani family, the Organised Crime and Corruption Reporting Project (OCCRP) said in an article on Thursday. READ MORE

Auto stocks: TGhe government has decided to extend the deadline of production linked incentive (PLI) scheme for automobile and auto component by another year to 2027-28. Centre has also decided to agree with the industry stakeholders to disburse the incentives on a quarterly basis, instead of annual plan, as per the scheme earlier.

Sula Vineyard: Verlinvest Asia PTE is seeking to divest up to a 12.56 per cent stake in Sula Vineyards Ltd  through a block deal, reported suggested. The block deal may be happen in the price range of Rs 473 to Rs 508.7 per share.

KRBL, GRM Overseas, L&T Foods: India, on Wednesday, permitted exports of limited quantities of non-basmati white rice to Bhutan, Mauritius and Singapore, according to a notification by Directorate General of Foreign Trade. Bhutan will get 79,000 tonnes, Mauritius 14,000 tonnes and Singapore 50,000 tonnes.

SJVN: The project portfolio of SJVN & its associate companies now stands at an all-time high with 79 projects aggregating 55,814 MW and three transmission lines totaling 340 Kms spread across 13 states and 2 countries of the Indian sub-continent, the company said in its FY23 annual report on Wednesday.

In the next three fiscals, annual revenue of more than Rs 10,000 crore are expected to be generated from the operational Power Stations, it added.

Rail Vikas Nigam Ltd: RVNL has emerged as the lowest bidder (L1) in five projects of Maharashtra Metro Rail Corporation Limited. The cost of the projects is approximately Rs 256.20 crore.

Lupin: Lupin, and J&J will supply their versions of the tuberculosis drug bedaquiline at a significantly cheaper price in low- and middle-income countries, a global anti-tuberculosis group said on Wednesday. The United Nations-backed Stop TB Partnership said J&J's new price of $130 and Lupin's price of $194 for a six-month course of the treatment represented a 55% and 33% price reduction, respectively.

Mahindra Logistics: The Board has approved the appointment of Saurabh Taneja as the chief financial officer and key managerial personnel of the company with effect from 1 September 2023. It has also approved the appointment of Ashay Shah as senior management personnel and Head – LMD & Strategy of the company with effect from 1 October 2023.

Natco Pharma: The company has invested $2 million in ISCA, Inc, a Delaware-based corporation involved in pest control for agriculture. The strategic investment for a 5.79 per cent stake.

Ajanta Pharma: Ajanta Pharma has received final approval from the United States Food and Drug Administration (USFDA) to market Topiramate extended-release capsules, 25 mg, 50 mg, 100 mg and 200 mg. The company can launch Topiramate on February 1, 2026 or earlier under certain circumstances.

Kamat Hotels: The Board, on Wednesday, approved acquisition of 100 per cent equity stake in Envotel Hotels Himachal Private Limited, consequently making it the wholly-owned subsidiary of the company. The cost of acquisition is Rs 50 lakhs.

DreamFolks Services: India's largest airport service aggregator has announced a strategic partnership with one of the leading Visa service providers to offer premium lounges at Visa centers and Doorstep Visa service. 

Bharat Heavy Electricals: BHEL has secured the order for setting up the 2x800 MW supercritical thermal power project Stage-II at Lara in Chhattisgarh.

Sasken Technologies: The Board has approved the appointment of Girish B V S as the chief technology officer of the company. He will replace Venugopal Ramakrishnan effective August 29, 2023. 

Spandana Sphoorty Financial: Max Life Insurance Company Limited - High Growth Fund, Max Life Insurance Company A/C PAR, and Kotak Mahindra Life Insurance Company Limited - Classic Opportunities Fund have bought 2.27 million shares or 3.2 per cent stake in the microfinance lender, via open market transactions at an average price of Rs 765 per share.

Punjab National Bank: State-owned PNB, on Wednesday, launched a mobile application based on the GST Sahay scheme. With this integration, PNB became the first public sector bank to facilitate frictionless credit flow to MSMEs using GST invoices, the bank said in a statement.

Wonder Electricals: The Board has approved the acquisition of business of Uttaranchal Industries (Partnership Firm) by way of issuance of 2.3 million preference shares.

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First Published: Aug 31 2023 | 8:19 AM IST

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