Stocks to watch: RIL, HDFC Bank, CarTrade Tech, Zomato in focus
Zomato has completed the acquisition of 9.16% shareholding in Grofers India for Rs 518.21 crore
Indian indices may witness a weak start on Friday as trading resumes after a local holiday. Weak global cues may play the spoilsport. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 220 points at the opening bell. Here is the list of top stocks that could be in focus on August 16.
RIL: Reliance Industries (RIL) has taken shutdown of its manufacturing units at Nagothane, Maharashtra to assure reliability and integrity of operations. “Product supplies to customers will continue through available stocks and diverting from other manufacturing sites,” it said in a statement. The complex is expected to be back into normal operation from 25 August 2021, it added.
HDFC Bank: The lender said that it has fixed the coupon rate of its $1 billion additional tier- I (AT-1) bonds at 3.70% per annum. The bank said that the US dollar-denominated, direct, subordinated, unsecured, Basel III compliant, additional tier-1 (AT-1) notes are rated Ba3 by Moody’s Rating Services.
CarTrade Tech: Shares of CarTrade Tech will debut on the bourses today, 20 August 2021. The issue price is Rs 1,618 per share.
Zomato: Zomato has completed the acquisition of 9.16% shareholding in Grofers India for Rs 518.21 crore and 8.94% shareholding in Hands-on Trades for Rs 222.83 crore.
Tata Elxsi: The company collaborated with DStv Media Sales, a media sales organisation and part of MultiChoice Group, to consult and collaboratively build a vision for DStv Media Sales (DMS) that addresses challenges while positioning DMS for future growth.
Advanced Enzyme: CRISIL Ratings has reaffirmed its ‘CRISIL A+/Stable/CRISIL A1′ ratings on the total bank facilities worth Rs 100 crore of Advanced Enzyme Technologies (Advanced Enzyme).
KIOCL: The company on Wednesday announced that it has been granted environmental clearance from the Ministry of Environment, Forest and Climate Change (MOEF&CC) for Devadari Iron Ore Mine.
Vishwaraj Sugar: Vishwaraj Sugar announced that its board approved sub-division of equity shares of the face value of Rs 10 each into five equity shares of face value of Rs 2 each (5-for-1).