Stocks to watch: Bharti Airtel, Infosys, Bank of India, Max Healthcare Institute

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 9 points at the opening bell. Overseas, Asian stocks traded mixed on Thursday, as US markets again surged to record highs. Meanwhile, South Korea’s central bank hiked interest rates. South Korea’s central bank raised its policy rate on Thursday, becoming the first major Asian economy to do so in the pandemic amid concerns record-low monetary settings are overheating demand. The Bank of Korea’s monetary policy board raised the benchmark interest rate by 25 basis points to 0.75%.

There will be some buzz in sugar industry stocks as the Centre hiked the minimum price that mills have to pay to sugarcane growers, also known as the Fair and Remunerative Price (FRP), by Rs 5 per quintal to Rs 290 a quintal for 2021-22 (October-September) sugar season while ruling out any immediate commensurate increase in the sale price of sugar. Auto stocks will be in focus as SIAM President Kenichi Ayukawa said the Indian automobile industry is going through a deep structural slowdown and the COVID-19 pandemic has further impacted the sector pushing it back by many years. Ayukawa noted that all auto segments like passenger vehicles and two-wheelers have witnessed a drastic drop in growth rates over the last 5-10 years. There will be some reaction in insurance industry stocks with a private report that the government is mulling allowing foreign direct investment (FDI) in the country’s largest insurer LIC, a move which would help overseas investors take part in the company’s proposed mega IPO.

Here is the list of top stocks that could be in focus on August 26.

Bharti Airtel: Bharti Airtel said that the meeting of the board of directors of the company is scheduled on 29 August 2021, to consider and approve various capital raising options through equity or equity linked or debt instruments or any combination there-of, as the Board may deem appropriate.

Infosys: The IT major announced that it will establish a new digital development centre at its largest Canadian office in Mississauga. This is aimed at creating 500 high quality jobs in the Toronto Region over the next three years.

Procter & Gamble Hygiene and Health Care: The company reported sales of Rs 787 crores, up 24% vs year ago behind market recovery and its superiority strategy. Profit After Tax (PAT) was Rs 49 crores, down 29% vs a year ago behind increased investment in brand building initiatives to accelerate growth.

Bank of India: Bank of India said its board approved the opening of QIP on August 25 and the floor price of Rs 66.19 per equity share.

Max Healthcare Institute: The board of directors of Max Healthcare Institute has approved an additional investment for an amount upto Rs 50 crore by way of subscription towards rights issue of equity shares of its wholly-owned subsidiary Alps Hospitals