Stocks to Watch on Thursday: Nifty futures on the Singapore Exchange traded 53 points, or 0.30 per cent higher at 17,750, signaling that Dalal Street was headed for a positive start on Thursday. The market has seen a robust recovery from day’s low for yet another session and closed with moderate gains on August 24, ahead of the expiry day for August derivative contracts. The volatility index India VIX also cooled off to 18.43 levels, down by 3.25 per cent, making the trend favourable for bulls. The BSE Sensex rose 54 points to 59,085, while the Nifty50 climbed 27 points to 17,605.
Stocks in News
NHPC
The company said that its subsidiary NHPC Renewable Energy (NHPC REL), and the Government of Rajasthan have signed a Memorandum of Understanding (MoU) for the development of ultra mega renewable energy power parks in Rajasthan. The main objective is to set up 10 GW ultra mega renewable energy power parks, and renewable energy projects will be developed either on EPC or developer mode by NHPC REL.
Tata Power
An arm of Tata Groups utility player has raised $320 million through Sustainability Linked Loans (SLL) to refinance its debt. The SLLs are typically available up to 0.25 per cent cheaper than the conventional loans, finance industry watchers said.
Wipro
The IT services provider has appointed Wagner Jesus as the Country Head and Managing Director for operations in Brazil. Jesus joined Wipro three years prior, taking the lead of the non-financial business cluster.
Barbeque-Nation Hospitality
Credit rating agency ICRA has upgraded the credit rating for the bank facilities of Rs 15.50 crore of the company to A (Stable) and for Rs 5 crore bank facilities, the rating has been upgraded to A2+.
PSP Projects
The company has received contracts worth Rs 247.35 crore from precast and government segments. With this, the total order inflow for the current financial year 2022-23 stands at Rs 1,344.24 crore.
Indian Metals & Ferro Alloys
Investor Fox Consulting Services Pte Ltd offloaded a 0.02 percent stake in the company via open market transactions on August 19. With this, its shareholding in the company reduced to 6.35 percent, from 6.37 percent earlier.
Future Lifestyle Fashions
Investor PI Opportunities Fund I has sold 6.24 lakh equity shares or 0.31 percent stake in the company via open market transactions. With this, its shareholding in the company reduced to 2.76 percent, down from 3.07 percent earlier.
Lupin
The drug maker said it has received approval from the USFDA for Formoterol Fumarate Inhalation Solution, used in treating symptoms of chronic obstructive pulmonary disease. It is a generic version of Mylan Specialty’s Perforomist Inhalation Solution.
TVS Motor Company
The two-wheeler firm said it will acquire 48 per cent stake in Narain Karthikeyan’s pre-owned two-wheeler startup ‘DriveX’ for a consideration of Rs 85 crore. The company said it will acquire 48.27 per cent stake in NKars Mobility Millennial Solutions Pvt Ltd (NMMSPL), which operates under the brand ‘DriveX’.
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