Stocks to watch: Bharti Airtel, Nazara Technologies, Burger King, Tech Mahindra, Punjab National Bank

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 94 points at the opening bell. Overseas, Asian stocks are trading higher on Monday after U.S. Federal Reserve Chairman Jerome Powell struck a more dovish tone than some investors expected in a long-awaited speech on Friday. Here is the list of top stocks that could be in focus on August 30, Monday.

Bharti Airtel: Bharti Airtel said that its board of directors has approved the issuance of equity shares on rights basis of an issue size of up to Rs 21,000 crore. The firm said that the right issue price is set at Rs 535 per share.

Tech Mahindra: Tech Mahindra (Americas) Inc., a wholly-owned-subsidiary of Tech Mahindra, will acquire 13.8% stake of AustinGiS, an IT services provider, for a total cash consideration of $1.25 million.

M&M: Mahindra & Mahindra (M&M) said that the Ministry of Defence (MoD) has awarded a major contract to Mahindra Defence Systems (MDS) worth Rs 1349.95 crore.

Burger King: The company India said it has entered into discussions regarding acquisition of a controlling stake in PT Sari Burger Indonesia, which manages and operates Burger King brand in Indonesia.

J&K Bank: Jammu & Kashmir Bank (J&K Bank) on Saturday announced that its board will meet on 2 September 2021 to consider raising of capital (Tier I/Tier II).

UCO Bank: The Central Government on Thursday, 26 August 2021 extended the term of office of Atul Kumar Goel, managing director (MD) and Chief Executive Officer (CEO) of UCO Bank for a period of two years beyond
the notified term which expires on 1 November 2021.

Bank of Maharashtra: A S Rajeev, the MD and CEO of Bank of Maharashtra, received an extended term of office for a period of two years beyond the notified term which expires on 1 December 2021.

Punjab National Bank: CH.S.S. Mallikarjuna Rao, the MD and CEO of Punjab National Bank (PNB), received an extension for a period beyond 18 September 2021 (date of completion of his current tenure), till the date of his
superannuation i.e. 31 January 2022.

Nazara Technologies: The company said that that it has acquired 100% stake in Hyderabad-based skill gaming company OpenPlay for a total consideration of Rs 186.4 crore.

Coromandel International: India Ratings and Research (Ind-Ra) has revised Coromandel International’s (CIL) outlook to positive from stable while affirming its long-term issuer rating at ‘IND AA+’.

Max Healthcare Institute (MHIL): The company said it acquired exclusive rights to aid development and provide medical services to a proposed 500 bed hospital in South Delhi.