GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a subdued opening on Friday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lower as the index was down 3.50 points or 0.01% at 25,290 indicating a muted start for domestic indices NSE Nifty 50 and BSE Sensex on Friday. On Thursday, the NSE Nifty 50 closed the session 99.60 points or 0.40% higher at 25,152, while the BSE Sensex rose 349 points or 043% to close at 82,135.
Stocks to watch on August 30, 2024
CDSL
Central Depository Services (India) secured approval from the Securities and Exchange Board of India (SEBI) for the appointment of Nehal Vora as the company’s MD & CEO.
NTPC
NTPC is planning to set up a new subsidiary to undertake nuclear projects, its chairman and managing director Gurdeep Singh said on Thursday. Speaking at the company’s 48th annual general meeting, he said NTPC is on the verge of commencing work on the 2.8-gigawatt (GW) Mahi Banswara nuclear project in Rajasthan through its joint venture with Nuclear Power Corporation of India — Anushakti Vidhyut Nigam (ASHVINI) – with an estimated investment of Rs 50,000 crore.
Adani Group
The Adani group has infused about Rs 2,000 crore in the Dharavi Redevelopment Project (DRP), the largest slum redevelopment initiative in Asia, which covers 640 acres in Mumbai. The Dharavi Redevelopment Project (DRPPL) is a joint venture between Gautam Adani’s Adani Group and the Maharashtra government. As the lead partner, Adani is responsible for constructing residential and commercial units for the project. The group won the bid for the project in 2022 and received final approval last year.
Sugar Stocks
The Union government has made a notable policy shift, allowing sugar mills to use cane juice or syrup to produce ethanol for the upcoming Ethanol Supply Year (ESY) 2024-25, starting November 1, 2024, removing the previous cap on sugar diversion.
Zomato
Zomato has received GST tax demand orders of over Rs 4.59 crore, including applicable interest and penalty, from Tamil Nadu and West Bengal authorities.
Shipping Corporation of India
Shipping Corporation of India received a demand order from the Deputy Commissioner of State Tax in Mumbai, totalling to Rs 160.37 crore.
LIC
Tax authorities have slapped a demand notice of about Rs 605.58 crore on LIC for short payment of Goods and Services Tax (GST) for the financial year 2019-20.
Rallis India
Bhaskar Bhat will cease to be the chairperson and director of Rallis India Ltd. from Friday in accordance with the company’s retirement age policy. The shareholders of Tata Group’s agrochemical firm had re-appointed Bhat in June as the director of the company up to August 29, according to an exchange filing.
RVNL
Rail Vikas Nigam signed a MoU with Patel Engineering to cooperate and create an enabling framework for achieving synergies in the areas concerning hydro and other infrastructure projects and when opportunities arise in India and overseas, read an exchange filing.
SpiceJet
Directorate General of Civil Aviation (DGCA) has once again placed SpiceJet under “enhanced surveillance” with immediate effect in a bid to ensure the safety of the low-cost carrier’s flight operations. The enhanced surveillance would entail an increase in spot checks and night surveillance of the airline’s operations to ensure operational safety.
