Top 10 stocks for today – 22 August 2024

22 Aug 2024 , 09:36 AM

Here are some of the stocks that may see significant price movement today.

Kalyan Jewellers: Promoter TS Kalyanaraman plans to raise his interest in the company by 2.36% by purchasing shares from Highdell Investment for ₹535 each. Kalyanaraman now has a 21% stake, which will increase to 23.36% after the acquisition.

BEML: The company has formed a strategic alliance with the Indian Navy to develop sophisticated maritime applications for defence. This collaboration is intended to strengthen BEML’s strengths in defense-related marine technologies. This agreement strengthens bilateral partnership for the indigenous design, development, and manufacture of vital marine equipment and systems.

India Grid Trust: Sponsor Esoteric II Pte intends to sell a 17.32% interest via an Offer for Sale (OFS) on August 22-23, 2024. The OFS has a base offer of 9.66% and an oversubscription option of 7.66%. The offer’s floor price is ₹132 per share. Non-retail investors can participate on August 22 and retail investors on August 23.

Alkem Laboratories: The promoter is likely to sell a 0.7% interest, which equates to 8.5 lakh shares, in block sales. The floor price for these shares is ₹5,616, representing a 3% discount from the current market price. According to sources, the sale’s floor price of ₹5,616 per share represents a 3% decrease from the current market pricing.

Muthoot Capital: The company plans to raise up to ₹50 Crore through a debt issuance on August 24. This action is part of a larger strategy to increase financial resources.

IREDA: The company will have a board meeting on Thursday, August 29 to discuss raising ₹4,500 Crore through various legal procedures, such as a Further Public Offer (FPO), Qualified Institutional Placement (QIP), or other options.

Procter & Gamble Health: In the fourth quarter, the company reported sales of ₹277 Crores, a 5% decrease from the previous year. The reduction in sales was mostly attributable to changes in the company’s go-to-market strategy. Profit before unusual items and tax was ₹43 Crores, down 3% from the previous year.

Zomato: The meal delivery company will pay ₹2,048 Crore for Paytm’s entertainment ticketing business. The acquisition includes a transition services agreement, which allows the ticketing company to continue using the Paytm app for up to 12 months to facilitate a smooth transition. As part of the acquisition, 280 staff will onboard Zomato.

One 97 Communications: Paytm revealed that its Board of Directors has chosen a lower compensation under a’revised remuneration structure.’ The proposed change, subject to shareholder approval, will reduce Non-Executive Independent Directors’ annual pay from ₹1.65-2.07 Crore to a capped amount of ₹48 lakh, with a fixed component of ₹20 lakh, beginning April 1, 2024.

Zen Technologies: The company launched its Qualified Institutions Placement (QIP) on August 21, at a floor price of ₹1,685.18 per share. According to reports, the QIP issuance size might be around ₹800 Crore, with the potential to grow to ₹1,000 Crore.

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