Stocks To Trade

Stocks To Trade 

Adani Enterprises/NDTV: Adani Media Networks, a wholly owned subsidiary of Adani Enterprises acquired indirect stake in NDTV. AMNL acquired stake in NDTV through acquisition of 100% stake in Vishvapradhan Commercial for an enterprise value of Rs 113.74 crore. Vishvapradhan Commercial exercised its right to convert 10 crore warrants into equity in RRPR Holding, the holding company of promoters Pranoy and Radhika Roy controls 29.18% stake in NDTV. Moreover, Vishvapradhan Commercial along with AMG Media and Adani Enterprises to make open offer for 26% stake or 1.62 crore shares at Rs 294 apiece. 

Chennai Petroleum: The company approved the proposal for a joint venture with Indian Oil and other seed equity investors including Axis Bank, HDFC Life Insurance Company, ICICI Bank,ICICI Prudential Life Insurance Company and SBI Life Insurance Company for implementing 9 MMTPA refinery project at Cauvery Basin refinery Nagapattinam District. The project cost is Rs 31,580 crore. The board also approved investment of Rs 2,570 crore in the joint venture as company’s contribution of 25%. 

Nava: The company has discontinued production of High Carbon Ferro Chrome in its Odisha Works for Tata Steel Mining company at the end of October 2022. The agreement for production of HCFC for TATA Steel Mining was up to March 2025.The company will undertake a scheduled maintenance of the Odisha smelters in November 2022 and switch over to production of Manganese alloys in Odisha Works. The Company has geared up for this additional production in Odisha, besides that in Telangana, aggregating to a rated capacity of 1,80,000 MT of Manganese Alloys per annum. The switchover would provide the company better economies of scale and improved market share in the Manganese alloys segment.

Stocks To Watch

STOCKS TO WATCH: 

NDTV, ARVIND SMARTSPACES, PFC, UGRO CAPITAL, EASY TRIP, CHENNAI PETRO, HPCL, TCS, COMPUTER AGE, MADHYA BHARAT

NDTV: Adani Unit Acquired 100% Equity Stake In VCPL

Arvind Smartspaces: Co Inks Agreement With HDFC Capital Advisors For Creating Residential Development Platform With Revenue Potential Of Upto Rs. 5,000 Crores

Power Finance Corp: Co Signs MOU For 67.5b Rupees With Mahapreit To Aid 1550 Mw Solar Power Projects In Maharashtra

Ugro Capital: Board Meeting On Aug 26 To Consider Raising Of Funds Via Issuance Of Non-Convertible Debentures

Easy Trip Planners: Board Meeting On Aug 26 To Consider Raising Further Capital

Chennai Petroleum Corp: Co To Form Joint Venture With Indian Oil And Other Seed Equity Investors

HPCL: Co Commences First Cow Dung To Compressed Biogas Project Under Gobar-Dhan Scheme || Co's First Project Under Waste To Energy Portfolio Commenced In Rajasthan

TCS: Co Spokesperson Says 100% Variable Amount Is Being Paid For Q1 || Says Variable Pay Is Either Paid In Month One Or Month Two As Per The Normal Process And There’s No Delay In That Process

Computer Age Management Services: Co Says Great Terrain Investment Cuts Stake In Co By 3.79% To 19.95%

Madhya Bharat Agro Products: Co Recommended Bonus Issue Of Shares In Ratio Of 1:1

Corporate Actions / Key Results

Today's Corporate Action 24th Aug Ex Date

DHUNTEAIND Final Dividend - Rs. - 4.0000

HEG Final Dividend - Rs. - 40.0000

KANORICHEM Dividend - Rs. - 1.0000

PREMCO Interim Dividend 

SUPER Final Dividend - Rs. - 10.000

0WEPSOLN Final Dividend - Rs. - 0.5000 

Today's Key Results 24-Aug-22

Sonata Software: Officials of the company will meet IDBI Capital Markets & Securities. 

UltraTech Cement: Officials of the company will meet TT International, Aberdeen PLC, Schroder Investment Management UK. 

Sobha: Officials of the company will meet Jefferies. 

Mahindra Holidays & Resorts India: Officials of the company will meet IIFL. 

Blue Star: Officials of the company will meet IIFL Securities. 

Orient Electric, Carborundum Universal: Officials of companies will attend DAM Capital: Virtual MidCap Investor Conference 2022. 

Nazara Technologies, Aptus Value Housing Finance India, Inox Leisure, Zee Entertainment Enterprises, Polycab India, CSB Bank, PSP Projects: Officials of companies will attend DART India Annual Conference 2022 "The Challenge of Change". 

PI Industries: Officials of the company will meet M&G, Singapore, and Franklin Templeton MF. 

Advanced Enzyme Technologies: Officials of the company will meet Eternity Capital. 

Asian Paints: Officials of the company will meet J P Morgan Asset Management. 

Lemon Tree Hotels: Officials of the company will be participating in the corporate roadshow in Singapore organized by Motilal Oswal Securities. 

Wipro: Officials of the company will participate in HDFC Securities IT sector conference. 

Supreme Industries: Officials of the company will meet Vaughan Nelson Investment Management. 

Marksans Pharma: Officials of the company will meet several analysts including Discovery Capital, Enam Holding, Max Life Insurance, and Rare Enterprise. 

Persistent Systems: Officials of the company will interact with Grandeur Peak Global.

Upcoming Events

What to watch this week:

US durable goods, MBA mortgage applications, pending home sales, Wednesday
US GDP, initial jobless claims, Thursday
Kansas City Fed hosts its annual economic policy symposium in Jackson Hole, Wyoming, Thursday
ECB’s July minutes, Thursday
Fed Chair Powell speaks at Jackson Hole, Friday
US personal income, PCE deflator, University of Michigan consumer sentiment, Friday
Will the meme mania fizzle out? That’s the theme of this week’s MLIV Pulse survey. Click here to participate anonymously.

Some of the main moves in markets:

Stocks

The S&P 500 fell 0.2% as of 4 p.m. New York time
The Nasdaq 100 was little changed
The Dow Jones Industrial Average fell 0.5%
The MSCI World index fell 0.3%

Currencies

The Bloomberg Dollar Spot Index fell 0.4%
The euro rose 0.3% to $0.9969
The British pound rose 0.5% to $1.1829
The Japanese yen rose 0.5% to 136.81 per dollar

Bonds

The yield on 10-year Treasuries advanced five basis points to 3.06%
Germany’s 10-year yield advanced one basis point to 1.32%
Britain’s 10-year yield advanced six basis points to 2.58%

Commodities

West Texas Intermediate crude rose 3.7% to $93.66 a barrel
Gold futures rose 0.7% to $1,760 an ounce.