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    Home»Fintech»Stocks in news: RIL, IndiGo, PB Fintech, Tata Steel, Paytm, Wipro, Nalco & Vedanta
    Fintech

    Stocks in news: RIL, IndiGo, PB Fintech, Tata Steel, Paytm, Wipro, Nalco & Vedanta

    August 29, 20244 Mins Read


    Indian benchmark indices settled slightly higher on Wednesday amid the optimistic global cues and FIIs inflows. However, inflated valuations continue to haunt the market. BSE Sensex gained merely 73.80 points or 0.09 per cent, to end the session at 81,785.56. NSE’s Nifty50 jumped 34.60 points, or 0.14 per cent, to close at 25,052.35 for the day. Here are the stocks that may remain under spotlight before the opening bell on Thursday, August 28, 2024:
     

    Reliance Industries: Mukesh Ambani led conglomerate will host its 47th Annual General Meeting (post-IPO) of shareholders, which will be held on August 29 at 2:00 PM (IST). Also, the Competition Commission of India has approved the Rs 70,350 crore merger of RIL and The Walt Disney Company for their Indian media assets.
     

    PB Fintech: Tencent Cloud Europe is likely to sell a 2.1 per cent stake, or 97 lakh shares, in the insuretech player via block deals, suggest media reports citing sources. The floor price for the deal is seen at Rs 1,660.2 per share.
     

    InterGlobe Aviation: The budget carrier’s co-founder and promoter Rakesh Gangwal is likely to sell a stake worth up to $800-850 million (Rs 6,700-7,100 crore) in IndiGo via block deals, suggested media reports based on the sources. The indicative price for the deal is seen at Rs 4,593 per share.
     

    Tata Steel: The Tata group’s metal arm company has acquired 178.34 crore ordinary equity shares worth $280 million (Rs 2,347.81 crore) in T Steel Holdings Pte (TSHP). Post this acquisition, TSHP will continue to be a wholly owned subsidiary of the company.
     

    Wipro: The global IT services provider has announced the liquidation of Capco Consulting Services (Guangzhou), the step-down subsidiary based in China. In addition, the company has completed its subscription in the equity share capital of Huoban Energy 11.
     

    One 97 Communications: Paytm’s subsidiary Paytm Payments Services (PPSL) has received approval from the Ministry of Finance for downstream investment from the company into PPSL. With this approval, PPSL will proceed to resubmit its application for a payment aggregator license. In the meantime, PPSL will continue to provide online payment aggregation services to existing partners.
     

    Vedanta: The Board of Directors of the company will meet on September 2 to consider the third interim dividend on equity shares, if any, for the financial year 2024-25.
     

    Macrotech Developers: The real estate company has executed share purchase agreements for the acquisition of a 100 per cent stake in Opexefi Services for Rs 46.7 crore and One Box Warehouse for Rs 49.09 crore. Post-acquisition, both will become subsidiaries of Lodha.
     

    KEC International: The RPG Group company has secured new orders in its transmission and distribution business in the United Arab Emirates and Saudi Arabia.
     

    National Aluminium Company: KABIL (Khanij Bidesh India – the joint venture company of Nalco, Hindustan Copper, and Mineral Exploration & Consultancy) has signed an MoU with Oil India for collaboration in projects and exploration.
     

    NLC India: The coal mining company has signed a power usage agreement with Telangana state DISCOMs for 200 MW of solar power at a competitive and affordable price under the CPSU scheme for 25 years.
     

    Annapurna Swadisht: The company opened its qualified institutions placement (QIP) issue on August 28 and has approved the floor price at Rs 434.96 per share.
     

    Lemon Tree Hotels: The hotel chain has signed a license agreement for a 72-room hotel property in Ujjain, Madhya Pradesh. The property will be managed by its subsidiary Carnation Hotels and is expected to open in FY27.
     

    Procter & Gamble Hygiene & Health Care: The healthcare player reported a net profit of Rs 81.06 crore for the quarter ended June 2024, falling 46.4 per cent YoY dented by weak operating performance with significantly higher advertising and sales promotion expenses. The board recommended a final dividend of Rs 95 per share.

    Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.



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