Stocks For Today: Infosys, Wipro, JK Lakshmi, IDFC First Bank, NLC India

India’s stock benchmarks closed almost unchanged on Thursday, as gains in energy and power stocks were offset by losses in metals and telecom stocks, amid expiry day volatility.

The S&P BSE Sensex pared all the intraday gains to close flat at 55,949.10. The NSE Nifty 50 also closed little changed at at 16,636.90, a record close for the 50-stock index. Reliance Industries Ltd. contributed the most to the index gain, increasing 1.3%.

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Here are the stocks to watch in trade today:

  • Wipro: The company has partnered with DataRobot to deliver Augmented Intelligence at scale, to help customers become AI driven enterprises, and accelerate their business impact. This collaboration will help accelerate the execution of AI strategy and will ensure quicker “data to value” for businesses, the company said.
  • Infosys: Infosys Public Services Inc, a subsidiary of the company, has been awarded a contract by Manitoba Public Insurance to digitise driver licensing, vehicle registration, and International Registration Plan services for over 900,000 Manitobans.
  • IDFC First Bank: RBI has approved the appointment of Sanjeeb Chaudhuri as the part-time Chairman of the bank for a period of three years with effect from August 25. Chaudhuri has served on the boards of Aditya Birla Fashion & Retail, Citigroup Europe and Standard Chartered Securities.
  • Adani Green Energy: To raise up to $750 million via bond sale overseas. The company approved issuing U.S. dollar denominated foreign currency bonds which may be issued in one or more tranches overseas. The bonds may be listed in any one or more stock exchanges in India or overseas. The company will use proceeds from the bond sale for onward lending to subsidiaries, including step-down subsidiaries, for capital expenditure requirements to fund the development of utility scale projects.
  • ADF Foods: The company’s wholly owned subsidiary, ADF Holdings (USA), will make an investment of up to $5 million, which would entail asset purchase and setting up of a step-down subsidiary in the United States. ADF Holdings (USA) will have a 70% stake in the proposed step-down subsidiary, which will be a distribution company and will help the company move up the value chain. This will further strengthen its penetration and distribution with the retailers with an enlarged product portfolio.
  • NLC India: Allotted 10,000 Commercial Papers of face value of Rs 5 lakh each aggregating to Rs 500 crore on August 25.
  • Mahindra CIE Automotive: Subscribed to 74.34 lakh equity shares of face value of Rs 10 each of ReNew Surya Alok. Consequently, the company’s stake in ReNew has increased to 82.60 lakh equity shares constituting 31.20% of the total equity capital.
  • JK Lakshmi Cement: Shareholders approved the reappointment of Vinita Singhania as Managing Director of the company for a period of five years effective August 1.
  • BHEL: The company has signed a Memorandum of Understanding with JSC Rosoboronexport. The MoU aims to cooperate and implement possible joint projects and activities with BHEL for joint production of spare parts and components for Russian-origin equipment installed onboard the Indian Navy Aircraft Carrier, Vikramaditya, and maintenance of systems and equipment of Aircraft Carrier, Vikramaditya, and on other issues of mutual interest, the company said.

Pledge Share Details

  • Bajaj Hindusthan Sugar: Promoters (Kushagra Bajaj and SKB Roop Commercial LLP) created a pledge of 14.38 crore shares between August 24-25.
  • DB Corp: Promoter DB Consolidated created a pledge of 11 lakh shares on August 24.
  • Kalpataru Power Transmission: Promoter Kalpataru Constructions revoked pledge of 1.29 lakh shares on August 23. Promoter Kalpataru Properties created a pledge of 1.29 lakh shares on August 24.
  • Zuari Agro Chemicals: Promoters (Zuari Global and Zuari Management Services) created a pledge of 17 lakh shares on August 23.
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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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