Stocks To Watch: Tata Power, Jindal Steel, Adani Power, L&T, Bharat Forge, Bharti Airtel
India’s key stock indexes climbed to fresh peaks, led by gains in Reliance Industries Ltd., which surged to its highest level in more than 10 months.
The S&P BSE Sensex rose 1.4% to 56,889.76 in Mumbai, while the NSE Nifty 50 Index advanced by a similar magnitude to close at a record high of 16,931.05. Reliance contributed the most to gains on both measures, rising 1.9%.
Here are the stocks to watch in trade today:
Tata Power Co. and Adani Power Ltd. to sell power on exchange for one month, according to a Economic Times report. Ministry of Power will issue a statutory order allowing plants run by Tata Power Co. and Adani Power Ltd. at Mundra in Gujarat to sell electricity on the power exchanges for a month. About 3,200 MW capacity at Tata Power’s Mundra plant and Adani Power’s 1,200 MW plant will be allowed to sell on the power exchanges for a month to ease electricity supply, according to the report.
Jindal Steel & Power: Board has approved a plan to raise up to $1 billion by selling bonds denominated in foreign currency or rupee in one or more tranches.
Bharat Forge: Says report on Tesla talks incorrect
Bharti Airtel: To take ‘baby steps’ to raise tariffs, Mittal says
L&T: The company has completed the sale of its entire stake in L&T Uttaranchal Hydropower to ReNew Power Services.
Ugro Capital: To consider raising funds through various options of borrowings including by way of issue of debt securities through private placement or public issue in September.
HFCL: Board of Directors to meet on September 3 to consider the proposals for raising funds by way of issue of equity shares/preference shares/bonds/debentures/non-convertible debt instruments/warrants/any other securities, including through preferential issue on a private placement basis, QIP, rights issue or any other methods or combination thereof.
NHPC: The Unit 3 (60 MW) of Bairasiul Power Station in Himachal Pradesh has been tested and commissioned after completion of renovation and modernisation works. The commercial operation of Unit 3 will start from August 31, the company said.
Bank of India: Approved the closure of the issue period for QIP on August 30 and the issue price of Rs 62.89 per equity share. The issue price is at a discount of 4.99% to the floor price of Rs 66.19 per equity share.
AGMs: Bharti Airtel (3 p.m.); Sun Pharmaceutical Industries (3 p.m.); GAIL India (11:30 a.m.); DLF (12:30 p.m.); Apollo Hospitals Enterprise (10:15 a.m.), Exide Industries (10:30 a.m.)
Pledge Share Details
Jindal Steel & Power: Promoter Siddeshwari Tradex created a pledge of 5 lakh shares on August 25.
Steel Exchange India: Promoter Vizag Profiles created a pledge of 25.64 lakh shares on August 26.
As reported on August 30.
Coffee Day Enterprise: KKR Mauritius PE Investments II sold 24.50 lakh shares (1.16%) at Rs 25.47 per share.
Stove Kraft: WHV-EAM International Small Cap Equity Fund bought (1.02%) 3.33 lakh shares at Rs 947.74 per share.
VIP Industries: Pioneer Investment Fund bought 23.48 lakh shares (1.66%) at Rs 460 per share. Promoter DGP Enterprises sold 16.30 lakh shares (1.15%) at Rs 460 per share. Promoter Kiddy Plast sold 26 lakh shares (1.84%) at Rs 460.02 per share.
Cholamandalam Financial Holdings: Promoter Lalitha Vellayan sold 3.07 lakh shares on August 26.
Surya Roshni: Promoter Surya Roshni Employees Welfare Trust bought 10,000 shares on August 26.
SVP Global Ventures: Promoters (Shubhankar Gattani and Moumita Gattani) sold 1.47 lakh shares between August 17-26.
Who’s Meeting Whom
Ambuja Cements: To meet Franklin Templeton on August 31.
KEC International: To meet Elara Securities (India) on September 1 and Reliance Securities on September 3.
Titan Company: To meet Macquarie Capital Securities (India) on August 31.
Ex-Date AGM: Ashok Leyland, Rossell India, Galaxy Surfactants, Century Plyboards (India), KEI Industries, GMR Infrastructure, The India Cements, Power Finance Corporation
Ex-Date Final Dividend: Advanced Enzyme Technologies, Ashok Leyland, Century Plyboards (India), Galaxy Surfactants, Rossell India
Ex-Date Dividend: India Cements
Ex-Date Interim Dividend: Power Finance Corporation
Record Date Interim Dividend: Kama Holdings
Record Date Dividend: Kitex Garments
Record Date For Reduction Of Capital: 3i Infotech
Record Date Buyback: Gandhi Special Tubes
Price Band Revised From 10% To 5%: Jain Irrigation Systems
Price Band Revised From 5% To 20%: Exxaro Tiles
Move Out Of Short-Term ASM Framework: VST Tillers Tractors, Fiem Industries