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Stocks to Watch: Paytm, Reliance, BEL, Astra Microwave, Vedanta, ADF Foods

Stocks to watch on August 25, 2023: Paytm promoter Antfin is likely to sell a 3.6 per cent stake, or 23 million shares, in the fintech company via block deals today

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SI Reporter New Delhi
The benchmark Sensex and Nifty indices are staring at a weak start on Friday as global markets maintain caution ahead of the US Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole symposium. At 7:40 am, the Gift Nifty Futures declined 75-odd points to 19,320, over Nifty Futures' Thursday close.

Globally, US markets ended lower overnight. Dow Jones, NASDAQ Composite, and the S&P 500 indices dropped over 1 per cent each.

Asia-Pacific markets, too, fell in Friday's early trade, with Nikkei 225, Topix, Kospi, and S&P 200 indices slipping up to 1 per cent.

Here are the stocks to watch today:

Paytm: Paytm promoter Antfin is likely to sell a 3.6 per cent stake, or 23 million shares, in the fintech company via block deals today. The floor price for the deal is likely to be discounted at Rs 880.10 per share, which is a 2.7 per cent discount from the closing price of Rs 904.45 recorded on Thursday. Citigroup has been appointed broker to the deal, which is reportedly valued at around $234 million. READ

Reliance Industries, EIH: RIL and Oberoi Hotels and Resorts have entered into an agreement to jointly manage three properties across India and the UK. Properties include Anant Vilas in Mumbai, Stoke Park in the UK and a new project in Gujarat. READ

Bharat Electronics: The Ministry of Defence has granted 'Acceptance of Necessity' for procurement and installation of electronic warfare suite on Mi-17 V5 helicopters. The EW suite will be procured from BEL.

Vedanta: The mining company has been granted an arbitration award that supports its position in the Rajasthan block case, according to reports. The company's argument revolves around the fact that, according to the terms of the production sharing contract for the Rajasthan block, there is no obligation to pay additional profit petroleum. 

NTPC: The company has received an order from the Competition Commission of India (CCI) imposing a penalty of Rs 40 lakh for failure to file notice with CCI under section 6(2) read with section 62(2A) of Competition Act, 2003 prior to consummation of the transaction regarding acquisition of shares by NTPC in Ratnagiri Gas & Power Pvt. Ltd.

Telecom stocks: Telecom subscriber base in the country grew marginally to 1,173.89 million at the end of June on account of new customer additions led by Reliance Jio, said Trai. The subscriber base growth was driven by mobile telephony where Reliance Jio added over 2.27 million new customers and Bharti Airtel added 1.4 million customers. BSNL lost 1.87 million mobile subscribers, VIL lost 1.28 million subscribers and MTNL (1,52,912 subscribers). READ

Shoppers Stop: The company's MD and CEO Venu Nair has resigned effective August 31 due to personal reasons. Homestop chief Kavindra Mishra has been promoted as executive director and CEO for a period of three years effective Sept. 1.

DB Realty: The company sold its entire stake in unit Royal Netra Constructions for Rs 2.55 crore to Man Infraconstruction and Platinumcorp Constructions. Garden Reach: The company signed an MoU with DEMPO Group, Goa, to launch a collaboration model to build commercial vessels in their shipyards at Goa and Bhavnagar, Gujarat.

Astra Microwave Products: The company got orders worth Rs 158 crore from ISRO, DRDO and DPSU for supply of satellite sub-systems, airborne radar, sub-systems of radar and EW projects.

Granules India: The drugmaker received the approval from Brazilian Health Regulatory Agency (ANVISA), for compliance with the guidelines of Good Manufacturing Practices for its Bonthapally API facility, Hyderabad and Accreditation Certificate of Foreign Drug Manufacturer from Pharmaceuticals and Medical Devices Agency (PMDA), Japan for its Jeedimetla API facility, Hyderabad.

Mankind Pharma: The board approved incorporation of wholly owned subsidiary Mankind Medicare with an authorized capital of Rs 5 crore. The subsidiary will manufacture and produce various type of pharmaceutical dosage forms and consumer healthcare products.

PL industries: Bromine leakage from a bromine storage tank at Jambusar site, Gujarat was quickly contained and all employees are safe. It reported insignificant loss on account of the minor leakage.

KPI Green Energy: The company received commissioning certificates from Gujarat Energy Development Agency for 4.10MW wind-solar hybrid power project at Samoj site in Jambusar, Gujarat.

Aditya Birla Capital: Aditya Birla Sun Life AMC has ceased to be the material subsidiary of the company after dilution of stake to less than 50 per cent.

Prakash Industries: The company received the environment ministry approval for Bhaskarpara coal mine in Chhattisgarh which will reduce costs and boost revenue through open market sale of coal.

SKF India: The company has acquired 26 per cent stake in Cleanmax Taiyo. 

Kaynes Technology: The company entered into an MoU with Government of Karnataka for Rs 3,750 crore to setup a semiconductor assembly and testing facility and printed circuit board manufacturing plant through its step-down subsidiaries.

GlaxoSmithKline Pharmaceuticals: The drugmaker has reported contingent liabilities of Rs 350 crore on account of ongoing litigations.

Syrma SGS Technology: The company has appointed Satendra Singh as CEO with immediate effect.

eMudhra: The board has approved raising Rs 250 crores via any instrument.

Monte Carlo Fashions: The company increased its investment in wholly owned subsidiary Monte Carlo Home Textiles by Rs 2 crore to Rs 15.7 crore.

ADF Foods: The company has fixed September 11 as the record date for stock split in the ratio of 5:1. 

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First Published: Aug 25 2023 | 8:02 AM IST

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