Stocks to watch: Shares of firms like Concord Biotech, ACC, Nykaa, Adani Group, Maruti, ONGC, and others will be in focus on Friday’s trade.
Stocks To Watch On August 18: Nifty futures traded 17.5 points, or 0.09 per cent, higher at 19,300.50, signaling that Dalal Street was headed for a positive start on Friday. Here’s a slew of stocks that will be in focus today for various reasons.
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Concord Biotech: The stock is likely to debut on a positive note. The Grey Market Premium (GMP) indicates a likely gain of 10 – 15 per cent at the opening bell. This Rekha Jhunjhunwala backed IPO had received fairly good response from investors, with the issue subscribed 24.9 times.
Nifty Next 50 rejig: Five stocks – ACC, HDFC Asset Management Company, Nykaa, Indus Towers and Page Industries will be dropped from Nifty Next 50 index from September 29. These will be replaced with Punjab National Bank (PNB), Trent, Shriram Finance, TVS Motor Company and Zydus Lifesciences.
Adani Group: The Gautam Adani led group reportedly flew some bankers to Mundra Port in Gujarat to showcase its private port and elaborate on the company’s strong financial conditions and expansion plans. The trip marks Adani Group’s latest effort to reassure markets after months of damage control following US shortseller Hindenburg report in January.
Read More: Concord Biotech IPO listing tomorrow: Check latest GMP, key details
Axis Bank: The RBI has approved the appointment of Subrat Mohanty as Executive Director of the Bank for a period of three years with effect from August 17.
JSW Steel: The company is eyeing to acquire up to 75 per cent stake in Teck Resources’ steelmaking coal business Elk Valley Resources. According to a Bloomberg report, the potential deal could value the business at $8 billion.
Power stocks: India experienced a new peak in power demand, reaching a record 233 Giga Watts (GW) on Wednesday due to rising temperatures as the monsoon retreats across the country. Power demand is projected to remain elevated until October. Experts believe prolonged hot weather would keep the electricity demand pushing up. This would drive demand for coal.
ONGC: The state-owned oil explorers plans to invest Rs 1 lakh crore by the end of this decade in low-carbon energy opportunities, including renewables and green hydrogen as it looks to transform into a low-carbon energy player.
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Adani Transmission: Adani Energy Solutions, formerly known as Adani Transmission, announced the acquisition of an under-development transmission project from Megha Engineering & Infrastructures for an undisclosed amount.
