Overnight Digest: Stocks to keep an eye on August 25

Sayali Kotwal
/ Categories: Trending, Mindshare
Overnight Digest: Stocks to keep an eye on August 25

Watch out for these stocks on Thursday's trading session.

On Wednesday, Sensex ended at 59,085.43, up by 0.09 per cent while Nifty 50 ended higher by 0.16 per cent at the 17,604.95 level.   

Media, telecom, realty, and private bank stocks were seen gaining whereas IT, pharma & auto stocks were moot on the bourses today.  

The stocks of Tata Steel, NTPC, Power Grid Corporation of India, Bharti Airtel, ITC, Axis Bank, and ICICI Bank witnessed a major spurt in volumes today.     

Keep a watch on these stocks for Thursday's trading session -   

New Delhi TelevisionAsia's richest man, Gautam Adani, made a significant bid for the media & entertainment market in India by acquiring a 29 per cent stake in the broadcaster NDTV Ltd through his firms and also, by launching an open offer to acquire an additional 26 per cent from shareholders, as required by law. Adani Group companies acquired the stake in NDTV indirectly by buying Vishvapradhan Commercial Pvt. Ltd (VCPL), which owned convertible debentures (warrants that provide for the conversion of debt to equity) in RRPR Holding Pvt. Ltd that in turn owned 29.18% of NDTV Ltd. The shares of NDTV were locked in the upper circuit at Rs 384.50 per share, simultaneously hitting a 52-week high price on BSE.    

Bharat Electronics: A memorandum of understanding (MoU) has been signed between NHPC and Bharat Electronics Ltd (BEL) for setting up of gigawatt-scale vertically integrated solar manufacturing unit, the company stated in its exchange filing. The state-owned hydro power giant NHPC has an installation base of 7,071.2 MW from 24 power stations including two projects in JV mode. Following the news, the shares of BEL made a new 52-week high on BSE at Rs 300.90 per share on Wednesday.   

Canara Bank: The bank intends to issue up to Rs 3,500 crore through tier II bonds over time in order to increase capital adequacy to meet growth requirements. It is anticipated that the first tranche of tier II bonds (10-year tenure) would hit the market on August 25, 2022, with a principal size of Rs 1,000 crore. The bank’s scrip closed 1.40 per cent higher on BSE today.    

Tata Motors: Tata Motors has inked a power purchase agreement (PPA) with Tata Power to develop a 7.25 MWp onsite solar project at its commercial vehicle manufacturing facility in Jamshedpur. According to a statement released by the firm on Tuesday, the initiative will be a key step towards expanding the renewable energy portfolio at its manufacturing plant. The scrip ended higher by 0.64 per cent on BSE today.    


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