Top 10 stocks to watch -19th August 2024

19 Aug 2024 , 11:07 AM

Here are some of the stocks that may see significant price movement today.

Maruti Suzuki India: An accounting provision for a deferred tax liability must be recast due to the elimination of the indexation advantage and the change in the tax rate on debt mutual funds from 20% plus surcharge and cess with indexation to 12.5% plus surcharge and cess without indexation. The accounting provision will have a one-time impact of ₹850 Crore on the company’s earnings for the September quarter. The actual payment will be made when these funds are redeemed.

Hindustan Zinc: Promoter Vedanta will exercise the green shoe option to sell an additional 1.95% equity in the Offer for Sale. The OFS will be open for retail investors on Monday.

Escorts Kubota: The company is looking into numerous choices for industrial land to build a greenfield site. Investment intent has been presented to the Uttar Pradesh government for land purchase. The project will require approximately ₹4,500 Crore in direct and indirect investment, completed in phases. At full capacity, annual output revenue will exceed ₹10,000 Crore. At full capacity, more than 14,000 people will be employed, both directly and indirectly.

Jubilant Pharmova: Arm Jubilant Biosys plans to buy an 80% share in Pierre Fabre Labs for €4.4 million over two years. The purchase will allow Jubilant Biosys to improve its drug discovery capabilities in the sectors of biologics and ADC (Antibody Drug Conjugates). Pierre Fabre may also engage Jubilant Biosys’ services for €7 million over the first four years.

Caplin Point: ANVISA-Brazil issues zero observations for Caplin Steriles’ injectable and ophthalmic production facilities in Gummidipoondi. ANVISA, Brazil’s medicines agency, inspected the facility between August 12 and 16, 2024.

Adani Enterprises: The company plans to raise ₹800 Crore through NCDs, ₹400 Crore will be issued, with the option to retain up to ₹400 Crore of oversubscription.

Genus Power: A wholly-owned subsidiary received three Letter of Awards worth ₹2,925.5 Crore for the appointment of Advanced Metering Infrastructure Service Providers. The contract includes designing, supplying, installing, and commissioning approximately 3.75 million smart prepaid and system meters. The whole order book currently surpasses ₹24,383 Crore, including concessions for an eight to 10-year period.

ONGC/Oil India: Beginning August 17, the windfall tax on crude petroleum was reduced from ₹4,600 to ₹2,100 per tonne.

Brightcom Group: The group, whose shares are currently halted for trading, stated that it will seek for the removal of the trading suspension with both the BSE and the NSE once it releases pending quarterly results and holds an Annual General Meeting.

Kolte-Patil Developers: Khiroda Chandra Jena, the company’s Chief Financial Officer, has left effective August 17 to seek professional possibilities outside the organisation.

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