Stocks to Watch Today – The benchmark indexes ended the previous session with a loss of 1.5% despite the market declining by 2.5% in the first hour of trading before recovering and trading in a range. The Federal Reserve Chair Jerome Powell underlined in his speech at Jackson Hole that rate hikes to achieve the target inflation rate of 2% will continue at the expense of suffering for consumers and businesses, which put additional pressure on international markets. Rising oil prices also dampened people’s spirits.
The company said the Board of Directors has made an allotment of 50,000 non-convertible debentures having a face value of Rs 10,000 each, through private placement. The tenure of the instrument is 24 months from the date of allotment and the coupon rate is 10.35 per cent per annum.
BC Power Controls
The company has received board approval for the issuance of 1.1 crore equity shares, on a preferential basis, to the promoter group category at a price of Rs 5.65 per share. The total fundraising was Rs 6.21 crore.
Krishna Institute of Medical Sciences
Analysis of stocks to watch today showed that Krishna Institute of Medical Science entered into a definitive agreement to acquire a majority stake (51 per cent) in SPANV Medisearch Lifesciences, Nagpur. SPANV is running a multi-speciality hospital – Kingsway Hospitals, having over 300+ beds. Existing promoters and shareholders will continue to hold the balance 49 per cent stake. Post-acquisition, the hospital will be renamed ‘KIMS Kingsway Hospitals’.
ICRA
The company received board approval for the appointment of Venkatesh Viswanathan as a Group Chief Financial Officer and key managerial personnel. His appointment is effective from August 30, 2022, and the company also designated him as Chief Investor Relations Officer. However, Amit Kumar Gupta has stepped down as Chief Financial Officer.
L&T Technology Services
On stocks to watch today, the engineering services company firm has bagged a multi-million-dollar deal from BMW Group for the European premier car maker’s hybrid vehicles. As part of the 5-year deal, it will provide high-end engineering services for the company’s suite of infotainment consoles targeted for its family of hybrid vehicles.
SEVEN (7) SHORT-TERM TRADING IDEAS BY EXPERTS
Lupin
The drugmaker said it has received tentative approval from the USFDA to market Dasatinib tablets, used to treat certain types of cancer, in America in strengths of 20 mg, 50 mg, 70 mg, 80 mg, 100 mg, and 140 mg. The product is a generic version of Bristol-Myers Squibb Company’s Sprycel tablets.
Orient Cement
Franklin Templeton Mutual Fund sold 1.52 lakh equity shares or 0.07 per cent stake in the cement company on August 26. With this, it reduced its stake in the said company to 3.12 per cent, down from 3.2 per cent earlier.
Star Housing Finance
Coronation Castles Pvt Ltd offloaded a 0.07 per cent stake in the company via open market transactions on August 26. With this, it is among the stocks to watch today because its stake reduced to 0.06 per cent, from 0.13 per cent earlier.
Vodafone Idea
The debt-ridden telecom operator’s 5G services launch will depend on several factors such as use cases, customer demand, competitive dynamics etc. Vi Managing Director and CEO Ravinder Takker said that the promoters of the company have invested Rs 4,940 crore and the company is in active discussion with investors for fundraising.
