Top 10 stocks for today – 20th August 2024
Here are some of the stocks that may see significant price movement today.
Bajaj Auto: The company’s accounting provisions for deferred tax will increase by ₹211 Crore due to recent regulatory amendments under the Finance Act, 2024. This adjustment follows the elimination of the indexation benefit on long-term capital gains on debt mutual funds purchased before April 1, 2023, as well as a reduction in the applicable tax rate.
Zomato: A big transaction is scheduled on Tuesday, with Antfin Singapore planning to sell 13.6 Crore shares, or 1.54% of total stock, through a block offer.
Nucleus Software: The board will meet on August 22 to discuss a share purchase, which would be the company’s third after those in 2017 and 2021. The buyback might be carried out using either the tender offer or the open market option.
DCM Shriram: On August 19, the business launched a new Hydrogen Peroxide (H₂O₂) plant at its chemical complex in Jhagadia, Bharuch District, Gujarat. The plant has a capacity of 52,500 tonnes per year and will consume hydrogen generated on the same location.
Tata Consumer Products: On August 19, the company concluded its rights issue, aiming to raise up to ₹3,000 Crore at ₹818 per share.
Poly Medicure: On August 19, the company issued a qualified institutional placement (QIP) with a floor price of ₹1,880.69 per share. According to sources, the issue size is projected to be ₹1,000 Crore, with the proceeds going towards manufacturing facilities, inorganic projects, and general business reasons.
HCL Technologies: Shiv Walia has been selected by the board as the IT company’s Chief Financial Officer, effective September 6. However, Prateek Aggarwal has resigned from his job as Chief Financial Officer to pursue possibilities outside of HCLTech.
Motilal Oswal Financial Services: The Board of Directors has approved the issuing of non-convertible debentures (NCDs) in the amount of ₹100 Crore (base issue size), with the option to retain oversubscription up to ₹100 Crore (green shoe option), for a total of ₹200 Crore on a private placement basis.
IndusInd Bank: The Reserve Bank of India has approved IndusInd’s establishment of a wholly owned subsidiary to manage mutual fund assets, as well as the infusion of equity capital into the asset management company.
Hi-Tech Pipes: The Board of Directors has approved the company’s plan to raise capital of up to ₹600 Crore by one or more qualified institutional placements (QIPs), a subsequent public offering, a rights offering, or any other legal method.
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