 "Stocks to watch: L&T, Exide Industries, PNB Housing, NHPC, and Cyient DLM shares in focus")
The SGX Nifty index on Wednesday (August 21) around 8:20 am, was down 23.5 points or 0.1 per cent at 24,694. It hinted at a flat to negative start for Dalal Street.
India VIX, an indicator of volatility in the market, was down 3.46 per cent at 13.82.
Ahead of the opening bell, here are stocks to watch:
Larsen & Toubro: The Bombay High Court has quashed a show-cause notice issued by GST authorities to Larsen & Toubro, which pertained to a service tax demand of Rs 2,237 crore on a former subsidiary. The tax had already been paid following the demerger.
Cyient DLM: Cyient is poised to offload a 14.5 per cent stake, equivalent to 1.15 crore equity shares, in Cyient DLM via block deals on August 21. The transaction, valued at Rs 860.9 crore, will have a floor price of Rs 748.65 per share. Post-transaction, Cyient’s stake in Cyient DLM will decrease from 66.66 per cent to 52.16 per cent.
NHPC: A landslide at NHPC’s 510 MW Teesta-V Power Station in Sikkim has damaged the TRT gate hoist structure and a section of the GIS building. The power station remains non-operational as it undergoes restoration following the October 2023 flash flood.
PNB Housing Finance: General Atlantic Singapore Fund FII Pte is reportedly set to sell a 5.1 per cent equity stake in the company through a block deal, with a floor price of Rs 775 per share and an expected offer size of Rs 1,032.7 crore, according to CNBC-TV18 sources.
Exide Industries: Exide Industries has injected an additional Rs 75 crore into its subsidiary, Exide Energy Solutions, on a rights basis. This brings the total investment in the subsidiary to Rs 2,652.24 crore. The company’s shareholding percentage in the subsidiary remains unchanged following this investment.
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