Stocks to Focus On: Nifty futures traded 94 points, or 0.48 percent, down at 19,380, indicating that Dalal Street will open down on Wednesday. These stocks will be the subject of today’s attention for a variety of reasons.
The grey market premium points to a likely bullish debut for the company, with gains of up to 50% above the issue price of Rs 57 per share, according to SBFC Finance. Strong interest led to over 74 times of the Rs 1,025 crore IPO being subscribed throughout the offer period.
Rally in Indian stocks continue, touch fresh peaks; Sensex around 67,000
IndiGo:
Co-founders Rakesh Gangwal and wife Shobha Gangwal are expected to sell up to 4% of the company in block agreements on Wednesday for a total of Rs 3,730 crore. The offer floor price is established at Rs 2,400 per share according to the term sheet.
ITC:
The business announced a Q1 consolidated net profit for the quarter ended June 2023 of Rs 5,104.93 crore, up 16.29% year over year from Rs 4,389.76 crore in the prior-year quarter. Nevertheless, overall operating revenue fell 6% to Rs 18,639.48 billion.
Infosys:
The multinational IT company has a multi-year contract with London-based Liberty Global, a provider of convergent video, broadband, and communications services. As part of the enlarged partnership agreement, Infosys will offer Liberty Global services valued at $2.5 billion if the contract is extended to eight years from its current five-year duration of $1.64 billion.
The business announced that it has been awarded a new contract to automate and use artificial intelligence (AI) to support and enhance Cricket Australia’s digital platform. In order to retain the popularity of the Cricket Australia Live and PlayCricket applications among fans, the company will use automation, analytics, and build tools. The deal’s financial specifics were kept confidential.
Adani Green Energy:
In an effort to reduce emissions and assist India in achieving its carbon neutrality goal, Gautam Adani’s renewable energy company plans to install 45 gigawatts (GW) of renewable energy capacity by 2030. According to sources, the corporation now has 8.3 GW of operational renewable energy capacity and another 12.12 GW is either under construction or close to completion.
The company’s tractor subsidiary, debuted its line of Mahindra OJA tractors on Tuesday. In Pune, the cost of these brand-new tractors was Rs 5.64 lakh for the OJA 2127 and Rs 7.35 lakh for the OJA 3140.
Vodafone Idea (VIL):
The telecom company’s Q1 net loss increased from Rs 7293.3 crore to Rs 7,837 crore during the June quarter. However, overall revenue increased 1.9% YoY to Rs 10,610.4 crore.
ONGC, Oil India:
As of August 15, the government increased the special extra excise levy on crude oil to Rs 7,100 per tonne.
According to Sebi, the inquiry into the suspected fund diversion matter will be finished in eight months. Subhash Chandra and Punit Goenka, the business’s promoters, are currently prohibited from holding directorships or other important managerial roles in any combined or demerged company.
SpiceJet:
In July, Akasa Air’s lead over SpiceJet in terms of monthly domestic passenger traffic grew. The month of June and July, the new airline handled 618,000 and 624,000 domestic passengers, respectively. In comparison, in the months of June and July, SpiceJet carried 555,000 and 504,000 passengers, respectively.
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