The Indian equity market may open flat on Thursday following Asian peers that traded in the green after a rally on Wall Street. At 8:00 am, the SGX Nifty was trading 1.50 points or 0.01 percent higher at 11,550.00, indicating a flat start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. Telecom stocks: Bharti Airtel and Vodafone Idea lost around 47 lakh mobile customers each in May. The total wireless customer base of Airtel and Vodafone Idea fell to 31.7 crore and 30.9 crore, respectively.
2. Real Estate stocks: Oberoi Realty, Godrej Properties, among other realty stocks will be in focus after the Maharashtra government decided to temporarily reduce stamp duty on flats from 5 percent to 2 percent till December 31 and to 3 percent between January 1 and March 31.
3. ICICI Bank: The bank will sell up to 2 percent stake in ICICI Securities in the open market.
4. Hindustan Aeronautics: The government will sell up to 15 percent stake in the stock via an offer for sale (OFS) at a floor price fixed at Rs 1,001 per equity share.
5. Lakshmi Vilas Bank: The bank’s board has approved raising up to Rs 1,500 crore.
6. CG Power & Industrial Solutions: The Murugappa Group-led Tube Investments remained the sole bidder for the company with no new suitors coming forward under the Swiss Challenge method, sources said. As per the securities subscription agreement, Tube Investments would buy 64.24 billion shares at Rs 8.56 each for a total of Rs 550 crore to take a 50.62 percent stake in the company.
7. Punjab & Sind Bank: The bank has declared Dewan Housing & Finance Corporation Ltd (DHFL) loan account worth Rs 820 crore as fraud. The bank has already provided Rs 204 crore for DHFL account.
8. Indraprastha Gas Ltd: The company’s net profit in Q1FY21 fell 87.9 percent to Rs 35.2 crore from Rs 290.8 crore while revenue declined 58.9 percent to Rs 638 crore from Rs 1,552 crore, QoQ. EBITDA decreased 78 percent to Rs 83 crore while EBITDA margin contracted to 13 percent from 24.2 percent, QoQ.
9. Jindal Stainless: The company’s board has approved raising funds up to Rs 162.80 crore through the issue of convertible equity warrants on a preferential basis.
10. Allcargo Logistics: The company’s board of directors will meet on August 27 to consider and approve the voluntary delisting of shares.