Stocks to watch: Nykaa, SpiceJet, Vedanta, Hindustan Zinc, NBCC, and M&M shares in focus

The GIFT Nifty index on Wednesday (August 14) rose around 8:45 am was up 35 points or 0.14 per cent at 24,192. It hinted at a flat to positive start for Dalal Street.

India VIX, an indicator of volatility in the stock market, was up 1.89 per cent at 16.17.

Cues from global stock markets remained largely positive. In the US, all three major stock indices– Nasdaq, S&P 500, and Dow Jones– ended in green on Tuesday (August 13). In Asian stocks, Hong Kong’s Hang Seng index and South Korea’s Kospi were in the green, while Japan’s Nikkei was down by 21 basis points.

Ahead of the opening bell in India, here’s a look at stocks to watch today:

Nykaa: On Tuesday, Nykaa announced plans to increase its existing majority stake in Dot & Key from 51 per cent to 90 per cent. The company will acquire an additional 39 per cent stake for Rs 265 crore. Founders Suyash and Anisha Saraf will continue to manage the business and retain an ownership stake.

More from Business

Hyundai India’s Rs 27,870 crore IPO oversubscribed by 2.28X, largely driven by institutional investors How Indian fintech startups are driving Malaysia’s UPI-like digital payments revolution

SpiceJet: Ajay Singh, the promoter of SpiceJet, is reportedly considering diluting his shareholding by more than 10 per cent in the cash-strapped airline. The move aims to raise approximately Rs 3,000 crore, according to the Economic Times.

Vedanta, Hindustan Zinc: Anil Agarwal-led Vedanta is expected to offload a 2.6 per cent stake in Hindustan Zinc through an offer for sale on the stock exchanges.

NBCC: State-owned NBCC reported a 38 per cent increase in consolidated net profit, reaching Rs 107.19 crore for Q1 FY25, up from Rs 77.41 crore in the same period last year. The company’s total income rose to Rs 2,197.83 crore during the quarter under review, compared to Rs 1,974.03 crore in the corresponding period of the previous year, according to a regulatory filing.

Impact Shorts

More Shorts

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Tata Harrier EV vs Mahindra XEV 9e: Design and road presence compared

Mahindra & Mahindra: The company reported a 2.1 per cent year-on-year increase in total sales for July, reaching 64,929 units. However, production fell by 1.2 per cent to 69,138 units, and exports declined sharply by 40.4 per cent to 1,515 units.