Stocks to watch: Adani Ports, Tata Power, UPL, SBI, Tata Motors, Patanjali

The Sensex and Nifty indices are likely to open lower on Friday as the decline in global markets will weigh on investor sentiment. Overnight, US markets slipped again after a day of rest. The Nikkei and Hang Seng indices each fell over 1 percent this morning in Asia.

At 7:40 am SGX Nifty Futures were 100 points down at 17,785 levels.

Here are some stocks that could see market movement today:

Tata Motors: The company expects electric vehicles to account for 20 percent of its total passenger car sales in the domestic market over the next three years, a senior company official said on Thursday. The company, which has electric models like Nexon EV and Tigor EV, expects to reach 50,000 units in total electric vehicle sales this year. read here

specialty restaurants: The company that brands like Mainland China, Oh! Kolkata, Hoppipola will add 20-30 cloud kitchens over the next 18 months, with the deployment model enduring even as the Covid-19 pandemic recedes. read here

Adani ports: HDC Bulk Terminal Ltd (HBTL), a wholly owned subsidiary of Adani Ports and Special Economic Zone Limited (APSEZ), has the concession agreement with Syama Prasad Mookerjee Port, Kolkata (SMPK) for the mechanization of Berth No. 2 at Haldia Port. APSEZ was selected as a winning bidder by SMPK in early February. Continue reading

telecom stocks: Mukesh Ambani-led Reliance Jio cemented its lead in the Indian telecoms market as it gained 2.94 million mobile subscribers in July, data released by Trai showed. Meanwhile, led by Sunil Mittal, Bharti Airtel added 0.5 million subscribers in July and Vodafone Idea lost 1.54 million subscribers. Continue reading

Patanjali foods: Patanjali Group plans to list the other four of its group companies in the next five years as it targets a market capitalization of over Rs 5 trillion. read here

Asian colors: JSW Paints may appeal the Competition Commission of India (CCI) order before the National Company Law Appellate Tribunal, sources told Business Standard. JSW Paints’ move comes after CCI dismissed its claim that Asian Paints blocked its entry into the decorative paints segment. read here

Tata power: A day after Odisha Chief Minister Naveen Patnaik appealed to investors from across the country to take advantage of the state’s business ecosystem, Tata Power Discoms on Thursday announced it would invest Rs 5,000 crore to bring reliable and quality power to the industry guarantee. Continue reading

Besdies, the Company’s subsidiary, Tata Power Solar Systems, has received a Letter of Award worth Rs 612 crore for constructing a 100MW ground-mounted project for SJVN in Gujarat.

State Bank of India: The bank has clarified that it has not been identified as a node bank for processing Russia-related transactions. SBI noted that the RBI has authorized all banks in India to open a special rupee vostro account to encourage Indian rupee billing. Accordingly, the bank takes the necessary precautions and processes requests from various banks, including Russian banks, in accordance with RBI guidelines and its own policies and procedures.

CSB bank: The bank has appointed Pralay Mondal as MD & CEO effective September 15

Taal company: The company’s board of directors will meet today to consider the proposal for an interim dividend.

Ambuja cements: The board will also meet today to consider the proposal to raise capital in the form of shares – convertible or preferred.

IndustryInd Bank: The Bank has reappointed Sumant Kathpalia as its MD & CEO.

Tata Metalics: West Bengal CM Mamata Banerjee inaugurated Phase I of Kharagpur Ductile Iron Pipe Plant Expansion Project. The Rs 600 crore expansion project will increase the company’s ductile iron pipe production capacity to over 4 lakh tons per year in two phases.

UPL: The Company has acquired a 26% interest in Clean Max Kratos Pvt Ltd, which will develop and maintain a 28.05MW solar and 33.00MW hybrid wind power project. UPL will invest another Rs 39.6 crore in Clean Max Kratos.

Amara Raja Batteries: The Andhra Pradesh Supreme Court has extended the provisional stay of the Andhra Pradesh Pollution Control Board’s closure orders for the company’s plants in Karakambadi, Tirupati and Nunegundla in Andhra Pradesh pending further orders.

Shares under F&O ban: Indiabulls Home Finance, RBL Bank

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