Stock Market Update: RIL, IndiGo, PB Fintech, Tata Steel, Paytm, Wipro, Nalco & Vedanta in Focus
Indian benchmark indices settled slightly higher on Wednesday amid optimistic global cues and FIIs inflows. Here are the stocks that may remain under spotlight before the opening bell on Thursday, August 28, 2024.
Stock MarketRilIndigoPb FintechTata SteelPaytmWiproNalcoVedantaReal EstateAug 29, 2024
Reliance Industries is set to host its 47th Annual General Meeting (post-IPO) of shareholders on August 29 at 2 00 PM (IST). The Competition Commission of India has also approved the Rs 70,350 crore merger of RIL and The Walt Disney Company for their Indian media assets.
PB Fintech is likely to see a 2.1 per cent stake sale by Tencent Cloud Europe via block deals, with a floor price of Rs 1,660.2 per share. InterGlobe Aviation's co-founder and promoter Rakesh Gangwal may sell a stake worth up to $800-850 million (Rs 6,700-7,100 crore) in IndiGo via block deals, with an indicative price of Rs 4,593 per share.
Tata Steel has acquired 178.34 crore ordinary equity shares worth $280 million (Rs 2,347.81 crore) in T Steel Holdings Pte (TSHP). Wipro has announced the liquidation of Capco Consulting Services (Guangzhou), a step-down subsidiary based in China. The company has also completed its subscription in the equity share capital of Huoban Energy 11.
One 97 Communications' subsidiary Paytm Payments Services (PPSL) has received approval from the Ministry of Finance for downstream investment from the company into PPSL. Vedanta's Board of Directors will meet on September 2 to consider the third interim dividend on equity shares, if any, for the financial year 2024-25.
Macrotech Developers has executed share purchase agreements for the acquisition of a 100 per cent stake in Opexefi Services for Rs 46.7 crore and One Box Warehouse for Rs 49.09 crore. KEC International has secured new orders in its transmission and distribution business in the United Arab Emirates and Saudi Arabia.
National Aluminium Company's joint venture company KABIL has signed an MoU with Oil India for collaboration in projects and exploration. NLC India has signed a power usage agreement with Telangana state DISCOMs for 200 MW of solar power at a competitive and affordable price under the CPSU scheme for 25 years.
Annapurna Swadisht has opened its qualified institutions placement (QIP) issue on August 28 and has approved the floor price at Rs 434.96 per share. Lemon Tree Hotels has signed a license agreement for a 72-room hotel property in Ujjain, Madhya Pradesh. Procter & Gamble Hygiene & Health Care reported a net profit of Rs 81.06 crore for the quarter ended June 2024, falling 46.4 per cent YoY.
Disclaimer This article provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Frequently Asked Questions
What is the current status of the Indian stock market?
The Indian benchmark indices settled slightly higher on Wednesday amid optimistic global cues and FIIs inflows.
What is the update on Reliance Industries' Annual General Meeting?
Reliance Industries is set to host its 47th Annual General Meeting (post-IPO) of shareholders on August 29 at 2:00 PM (IST).
What is the stake sale plan of PB Fintech?
PB Fintech is likely to see a 2.1 per cent stake sale by Tencent Cloud Europe via block deals, with a floor price of Rs 1,660.2 per share.
What is the update on Tata Steel's acquisition?
Tata Steel has acquired 178.34 crore ordinary equity shares worth $280 million (Rs 2,347.81 crore) in T Steel Holdings Pte (TSHP).
What is the update on Vedanta's dividend plan?
Vedanta's Board of Directors will meet on September 2 to consider the third interim dividend on equity shares, if any, for the financial year 2024-25.
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