Stocks To Watch- Reliance Industries, Shoppers Stop, Bharti Airtel, Suzlon Energy, Vodafone Idea, Paytm

Stocks To Watch: Reliance Industries, Shoppers Stop, Bharti Airtel, Suzlon Energy, Vodafone Idea, Paytm

Stocks in focus: GIFT Nifty traded 0.17% higher during Friday’s early trading session at 19,326, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex. The equity benchmarks closed in the red on Thursday, erasing all morning gains. After touching an intraday high of 19,584.45, the NSE index crashed over 1% or 200 points to settle at 19,386.70. Sensex settled lower by 180 points at 65,252.34.

“The US market exhibited a positive trend as declining US PMI ignited hopes of a prolonged rate pause, calming US bond yields. Optimism in the domestic market was more visible in the IT sector, though sentiments were reversed in other major sectors, likely influenced by the prevailing global uncertainties. Despite this, mid- and small-cap stocks demonstrated resilience, and the decline in bond yields facilitated a resurgence in foreign investor buying momentum,” said Vinod Nair, Head of Research at Geojit Financial Services.

Shoppers Stop

The MD and CEO of Shoppers Stop Venu Nair resigned, effective from 31 August due to personal reasons. Kavindra Mishra, the Homestop head, has been promoted as executive director and CEO for a period of three years in his stead.

Bharti Airtel

Bharti Airtel added 1.4 million customers to its telecom subscriber base at the end of June. Telecom subscriber base in the country grew marginally to 1,173.89 million on account of new customer additions.

Suzlon Energy

Suzlon Group announced a new order win for the development of a 31.5 MW wind power project for Integrum Energy Infrastructure Private Limited. “Suzlon will install 15 units of their S120 – 140m wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 2.1 MW each in Maharashtra and Karnataka,” the company said in a regulatory filing.

Vodafone Idea

Vodafone Idea lost 1.28 million subscribers in the month of June, as Bharti Airtel and Reliance Jio gained the most subscribers. The monthly growth was mitigated by the loss of subscribers by state-owned BSNL, MTNL and Vodafone Idea

Kaynes Technologies

Kaynes Technology entered into an MoU with the Government of Karnataka. The company will set up a semiconductor assembly and testing facility through its step-down subsidiaries for a total consideration of Rs 3,750 crore.

Paytm

Promoter Antfin (Netherlands) Holding BV is likely to sell a 3.6% stake or nearly 23 million shares in One97 Communications, the parent company of Paytm, through a block deal on Friday. The transaction will be done at Rs 880.1 per share, or at a 2.7% discount to the last closing price.

(With agency inputs.)