Top 10 stocks for today – 24 August, 2023

24 Aug 2023 , 07:37 AM

Reliance Industries: The Qatar Investment Authority will invest $1 billion, or Rs 8,278 crore, in Reliance Retail Ventures (RRVL), a Reliance Industries subsidiary, for a 0.99% stake. The investment has a pre-money equity value of $100 billion, or Rs 8.27 lakh crore, for the company.

NHPC: The state-owned company has inked a Memorandum of Understanding (MoU) with the Andhra Pradesh Power Generation Corporation (APGENCO) for the development of pumped storage hydropower projects and renewable energy projects in the state.

Panacea Biotech: Serum Institute of India, founded by Cyrus Poonawalla, has sold 5 lakh shares in the biotechnology company through open market transactions, amounting to 0.8% of total paid-up ownership. The shares were sold for an average of Rs 146.31 per share. As of June 2023, Serum Institute owned a 6.97% stake in the company or 42.7 lakh shares.

Coforge: According to insiders, promoter Hulst BV is trying to sell its whole 26.63% ownership in the mid-sized IT firm in a block deal. The floor price has been set at Rs 4,550 per share, a 7.4% drop from the closing price on Wednesday of Rs 4,913. According to sources, Hulst BV will sell 1.62 lakh shares, bringing the total deal amount to roughly Rs 7,400 crore.

Shriram Properties: Omega TC Sabre Holdings Pte Limited, a Singaporean business, sold an additional 12.83 lakh equity shares in the south-based real estate developer through open market transactions at an average price of Rs 83.58 per share. Omega sold 69.83 lakh shares or 4.1% of its interest in the company in the last three days, compared to 9.39% or 1.59 crore shares as of June 2023.

Procter & Gamble Health: The FMCG company reported a net profit of Rs 29.8 crore for the fiscal quarter ending June FY23 (Q4FY23), a 28% decrease from the previous year due to higher material costs and one-time staff costs.

Atul Auto: Societe Generale, a European financial services company, purchased 1.41 lakh equity shares, or 0.54% stake in the automobile company, through open market transactions at an average price of Rs 409.54 per share.

Tata Communications: Tata Communications announced its plans to issue non-convertible debentures (NCDs) to raise Rs 1,750 crore.

Tata Motors: The CCI dismissed a lawsuit against Tata Motors for alleged abuse of its dominant position in agreements with its authorized dealers.

JB Pharma: The US Food and Drug Administration (FDA) has accepted JB Pharma’s Abbreviated New Drug Application (ANDA) for Doxepin Hydrochloride Capsules.