 "Stocks to watch: Zomato, Paytm, IREDA, RVNL, and Zen Technologies shares in focus")
GIFT Nifty index on Thursday (August 22) around 9 am was up 41.5 points or 0.17 per cent at 24,857. It hinted at a flat to a positive start for D-Street.
The India VIX, an indicator of volatility in the market, was down 3.53 per cent at 13.33.
Global cues remained positive. US stock indices edged upwards on Wednesday (August 21) after Fed’s meeting minutes were released. Asian shares, tracking Wall Street gains, moved upwards, too.
Ahead of the stock market opening in India, here’s a look at stocks to watch:
Zomato and Paytm: Online food delivery giant Zomato is set to acquire Paytm’s entertainment ticketing division for Rs 2,048 crore, aiming to bolster its “going-out” segment. Paytm’s entertainment arm includes ticketing for films, sports, and live events. This deal is expected to allow Paytm to refocus on its core businesses of payments and financial services.
IREDA: The Indian Renewable Energy Development Agency Ltd (IREDA) announced on Wednesday that its board will consider a proposal to raise up to Rs 4,500 crore through the issuance of shares at its meeting on August 29. The capital could be raised through a Further Public Offer (FPO), Qualified Institutional Placement (QIP), Rights Issue, Preferential Issue, or other approved methods, subject to regulatory and government clearances.
Zen Technologies: Zen Technologies has launched its Qualified Institutions Placement (QIP) on August 21, setting the floor price at Rs 1,685.18 per share. Sources told CNBC-TV18 that the QIP could raise around Rs 800 crore, with an option to increase the issue size to Rs 1,000 crore.
Impact Shorts
More ShortsRVNL: Rail Vikas Nigam Ltd (RVNL) has signed a Memorandum of Understanding (MoU) with Dhaya Maju Infrastructure (Asia) Sdn Berhad (DMIA). The partnership is expected to explore collaborative opportunities in railway infrastructure and services projects across the ASEAN region and beyond.
With inputs from agencies
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