Top 10 stocks for today – 29th August 2023

29 Aug 2023 , 07:54 AM

Zomato: Internet firm III Pte Ltd, a venture capital firm managed by Tiger Global Management in the United States, has exited the food delivery behemoth by selling its entire stake in the company for Rs 1,123.85 crore. Through open market transactions, the fund sold 12.34 crore shares, or 1.44% of Zomato, at an average price of Rs 91.01 per share.

Adani Group stocks: The market regulator’s probe into India’s Adani group revealed violations of regulations on listed entity disclosures and limits on offshore fund holdings.

Sun Pharmaceutical Industries: The pharmaceutical company anticipates high-single-digit consolidated topline growth in FY24. The company’s worldwide specialty business is forecast to expand further, while R&D investment is expected to be about 7-8% of revenues in FY24, with a growing share of spending in specialty R&D.

Star Health and Allied Insurance Company: ICICI Prudential Life and Fidelity have jointly acquired a 3.35% stake in the health insurance company founded by late large bull Rakesh Jhunjhunwala. Through open market transactions, ICICI Prudential Life Insurance Company purchased 39 lakh shares, Fidelity Investment Trust Fidelity Series Emerging Markets Fund purchased 1.23 crore shares, and FGTFEBP: FIAM Emerging Markets Opportunities Commingled Pool purchased 32.45 lakh shares in Star Health at an average price of Rs 610.20 per share. 

Indiabulls RealEstate: With immediate effect, Indiabulls RealEstate has selected current Senior Vice President Atul Chandra as Chief Operating Officer.

SJVN: Assam Power Development Corporation (APDCL) has awarded SJVN Green Energy a Letter of Award for three solar power projects totaling 320 MW. These three solar power projects will be built, own, and operate (BOO) and are estimated to create a total of 628 MUs in the first year, with a total energy generation of 14,591 MUs over 25 years.

LTIMindtree: The technology consulting and digital solutions firm has established a strategic partnership with SaaS provider CAST AI, which specializes in automatic cost optimization for customers running cloud-native apps on Google Cloud, AWS, and Microsoft Azure.

Piramal Enterprises: Piramal Enterprises aspires to achieve a consolidated ROA of 3-3.3% by FY28. It also intends to more than double its AUM to Rs 1.2 lakh crore by fiscal 2028. 

HFCL: The company’s Fund Raising Committee of Directors has agreed to initiate a qualified institutional placement (QIP) issue for fund raising on August 28. The issue’s floor price has been set at Rs 68.61 per share.

Visa Steel: Visa Industries, the company’s promoter, purchased 22 lakh shares, or 1.89% of the company, in open market transactions at an average price of Rs 14.3 per share. M Prasad & Co, on the other hand, sold 16.05 lakh shares, or 1.38% of the firm, at the same average price.

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