 "Stocks to watch: Zomato, Vedanta, Power Grid, HCLTech, Tata Consumer, and Bajaj Auto shars in focus")
The GIFT Nifty index on Tuesday (August 20) was up 28 points or 0.11 per cent at 24,636.5 around 8:30 am. It hinted at a flat to positive start for Dalal Street.
The India VIX, an indicator of volatility in the stock market, was down 0.61 per cent at 14.32.
Global cues remained positive, with US stock indices having rallied on Monday (August 19) and Asian shares gaining on Tuesday.
Ahead of the opening bell in India, here’s a look at stocks to watch:
Zomato Ltd: A notable transaction is anticipated, with Antfin Singapore set to sell 13.6 crore shares, or 1.54 per cent of Zomato’s total equity, through a block deal. The transaction details were reported by CNBC-TV18.
Vedanta Ltd: Mining giant Vedanta is reported to have raised approximately Rs 3,200 crore through the offer for sale (OFS) of its subsidiary, Hindustan Zinc Ltd. The OFS saw robust demand from both retail and institutional investors, according to sources cited by PTI.
Power Grid Corporation of India: The state-owned enterprise announced the acquisition of Rajasthan IV E Power Transmission Ltd, a project special purpose vehicle (SPV). The project includes the construction of a 765 kV sub-station in Rajasthan, along with associated transmission lines and substation expansions in Rajasthan and Madhya Pradesh, as disclosed in a BSE filing.
Bajaj Auto: The company has announced its plans to increase its accounting provision for deferred tax by Rs 211 crore. This adjustment is in response to recent regulatory changes introduced under the Finance Act, 2024. The changes involve the withdrawal of the indexation benefit on long-term capital gains from debt mutual funds purchased before April 1, 2023, as well as a reduction in the applicable tax rate.
Impact Shorts
More ShortsIndusInd Bank: The Reserve Bank of India has approved IndusInd Bank’s proposal to establish a wholly-owned subsidiary focused on the asset management business for mutual funds. The bank has also received clearance to inject equity into this new entity.
HCL Tech: HCLTech’s board has appointed Shiv Walia as the new Chief Financial Officer, effective September 6.
With inputs from agencies
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
