Top 10 stocks for today – 22 August, 2023

22 Aug 2023 , 08:02 AM

Adani Enterprises: During the period August 7-18, promoter entity Kempas Trade & Investment bought 2.53 crore equity shares, or 2.22% interest, in the Adani Group company through open market transactions. With this, it increased its stake in Adani Enterprises to 69.87% from 67.65%.

Lemon Tree Hotels: The hotel group has entered into license agreements for two properties under the Lemon Tree Hotel and Lemon Tree Mountain Resort brands in Bhubaneswar and Kasauli, respectively.

Adani Power: The private power company plans to increase thermal generation capacity to 21,110 MW by FY29, including 1,100 MW through inorganic growth. Net senior debt is expected to be Rs 26,690 crore in FY24, up from Rs 24,350 crore in FY23, but net senior debt to EBITDA is expected to fall at 1.6x from 1.7x during the same period.

Welspun Enterprises: Welspun World’s infrastructure development arm has finalized the purchase of 50.10% of Michigan Engineers (MEPL), a trenchless technology-based EPC company in the urban water infrastructure market, from existing shareholders for Rs 137.07 crore.

Union Bank of India: The board of directors of the public sector lender has approved the raising of funds of up to Rs 5,000 crore through qualified institutions placement (QIP) of equity shares. The QIP problem went live on August 21. The issue’s floor price has been set at Rs 91.10 per equity share.

Tata Power Company: Tata Power Renewable Energy, a subsidiary of Tata Motors, has signed a power purchase agreement (PPA) for a 9MWp on-campus solar project with Tata Motors’ Pantnagar facility in Uttarakhand. This solar plant will be Uttarakhand’s largest on-campus solar installation. The project will be launched six months after the PPA is signed.

Rail Vikas Nigam: RVNL incorporated Masakani Paradeep Road Vikas Limited, a wholly owned subsidiary of the state-owned railway business.

One 97 Communications: On September 12, the Paytm operator will hold its 23rd Annual General Meeting.

RITES, NHPC: RITES and NHPC has signed a memorandum of understanding (MoU) for consultancy services for new rail connectivity, logistics and allied infrastructure.

Brigade Enterprises: The south-based real estate developer has entered into a selling agreement for a 6.54-acre land piece in Chennai. The company intends to build a residential complex on the aforementioned property.