Stock Recommendations For Today [18-08-2022]

Stock Recommendations For Today: Asian equities and U.S. futures declined as investors digested the uncertainty in Chinese economy. The U.S. and Federal Reserve minutes hinted at the need for delicate balancing act to tackle inflation while reducing the chances of a recession, simultaneously.

Equities fell across Japan, South Korea and Australia after U.S. markets logged losses for the first time in four days.

At 6:27 am, the Singapore-traded SGX Nifty — an early barometer of India’s benchmark Nifty 50 — traded 0.09% lower at 17,952 points.

Elsewhere, crude oil retreated while gold advanced and Bitcoin was little changed.

  • Sona BLW Precision Forgings: Blackstone to sell 10.87% stake in Sona BLW Precision Forgings in block trade. Upsize option of 1.58 crore shares representing 2.72% stake. Floor price set at Rs 500 apiece, a 7.3% discount on Wednesday’s closing price. The total deal would fetch Blackstone Rs 3,971.7 crore (calculated at floor price).
  • ONGC: The company has signed Heads of Agreement with ExxonMobil for deep water exploration in Krishna Godavari and Cauvery Basins in the eastern offshore and the Kutch-Mumbai region in the western offshore.
  • Natco Pharma: The company received tentative approval from the U.S. FDA for Trabectedin for Injection (generic for Yondelis) for the 1mg/vial presentation.
  • Reliance Industries: Jio adds net 4.22 million mobile subscribers in June: TRAI
  • Bharti Airtel: Adds net 7,93,132 mobile subscribers in June: TRAI
  • Vodafone Idea: Loses net 1.8 million mobile subscribers in June: TRAI
  • GAIL India: Approves raising up to Rs 25,000 crore through rupee borrowing and up to $313 crore in foreign currency.
  • Kilburn Engineering: RBL Bank sold 2.2 million shares of KEL in two blocks: BSE

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