Must-Watch Stocks Aug 26: Adani Power, KEC Int’l, JFS, FDC, Dr Reddy’s | Breaking Market News You Can’t Miss!

Stocks to Watch on Monday, August 26, 2024

Indian markets are poised to open positively on Monday, buoyed by US Federal Reserve Chairman Jerome Powell’s indication of a forthcoming interest rate cut cycle. Powell’s speech at the Jackson Hole Economic Symposium lifted US markets, with significant gains on Friday. Following this, Asian shares inched higher, with notable performances from South Korea’s Kospi and Australia’s S&P/ASX 200. However, Japan’s Nikkei declined due to a stronger yen.

Key Stock Updates:

• Adani Power: Faces $800 million in unpaid dues from Bangladesh amidst local protests.
• KEC International: Secured new orders worth Rs 1,079 crore across various regions, with year-to-date orders surpassing ₹8,700 crore.
• Ambuja Cement: GQG Partners acquired a 0.69% stake; Holderind Investments sold 2.75%.
• Hinduja Global Solutions: Legends Global Opportunities bought a 1.53% stake; New Leaina sold 0.78%.
• Hero MotoCorp: Filed for an IPO to raise up to ₹900 crore.
• Transport Corporation of India: Board approved buyback of up to 13.33 lakh shares at ₹1,200 each.
• Piramal Enterprises: Partnered with Central Bank of India to expand co-lending operations.
• Jio Financial Services: Received approval to increase foreign investment limits to 49%.
• FDC: Baddi facility cleared by US FDA inspection without observations.
• Dr Reddy’s Laboratories: USFDA inspection at Srikakulam facility resulted in three observations.
• Infosys: Denied trade secret theft allegations by Cognizant TriZetto.
• Coal India: Potential financial impact of up to Rs 35,000 crore if mining taxes aren’t recovered.
• Maruti Suzuki India: Plans to expand Nexa network to 650 outlets.
• Aurobindo Pharma: Received a warning letter from USFDA for lapses at Telangana plant.
• ONGC: Opened the fifth well in its Krishna Godavari deep-sea project.
• Uno Minda: Inaugurated a new facility in Neemrana, Rajasthan.
• Lemon Tree Hotel: Signed a new property in Surat under Aurika brand, opening in 2030.
• NIIT: Ramesh Shrichand Damani acquired a 0.59% stake.
• Eco Hotels and Resorts: Signed a pact to acquire three properties in Maharashtra.
• Zomato: Introduced a feature to schedule food orders in advance.
• IREDA: Considering a fundraise of up to Rs 4,500 crore.
• IDFC First Bank: Received an income tax refund of ₹202.55 crore.
• Religare Enterprises: ED conducted searches; no incriminating evidence found.
• JSW Energy: Subsidiary received LoA for a 250 MW wind power project.
• Karur Vysya Bank: RBI approved SBI Mutual Fund’s acquisition proposal.
• Ashoka Buildcon: Emerged as the lowest bidder for an ₹478 crore MMRDA project.

Nifty 50 Changes:

• Trent and Bharat Electronics will join the index, replacing Divi’s Laboratories and LTIMindtree, effective September 30.

FTSE All World Index Additions:

• Additions include Bank of Maharashtra, Bharat Dynamics, and others, effective September 23.

Original Story https://www.business-standard.com/markets/news/stocks-to-watch-aug-26-adani-power-kec-int-l-jfs-fdc-dr-reddy-s-124082600044_1.html
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