Realty and PSU Bank rose 1-2 percent, while selling was seen in the IT, auto, bank, oil & gas, pharma and FMCG names.
Benchmark indices ended lower in a highly volatile session with the Nifty around 17,500. At close, the Sensex was down 310.71 points or 0.53% at 58,774.72, while the Nifty was down 82.50 points or 0.47% at 17,522.50.
Bharti Airtel | CMP: Rs 736.65 | The scrip ended in the red on August 25 after the company’s promoter Bharti Telecom announced it will buy a 3.33 percent stake from Singtel for Rs 12,895 crore. “Singtel and its affiliates have entered into an agreement to transfer approximately 3.33 percent shares to Bharti Telecom for an aggregate amount of approximately 2.25 billion Singapore dollars, leaving direct shareholding of Singtel and Bharti in Airtel at around 10 percent and 6 percent, respectively,” Bharti Airtel said.
NDTV | CMP: Rs 407.60 | The stock hit the 5 percent upper circuit for the third day in a row after Adani Group announced it would pick a 29.18 percent stake in the company and make an open offer to acquire 26 percent more.
IDBI Bank | CMP: Rs 43 | The scrip jumped over 7 percent hitting a 4-month high after a Bloomberg report said the government is considering selling a 51% stake in the lender. Other mid-sized public sector banks were also trading higher in hopes of privatisation. The government, in the Budget speech, had said that it would divest IDBI Bank and privatise two public sector banks. Life Insurance Corp and the government together hold over 98% stake in IDBI Bank. LIC had bought a 51 percent stake in IDBI Bank in 2019 for Rs 21,624 crore at an average price of Rs 61 per share. The government and LIC will formally seek to gauge buyer interest as soon as the end of September, the Bloomberg report said.
Barbeque-Nation Hospitality | CMP: Rs 1,105.80 | The share price ended in the green on August 25 after ICRA upgraded the credit rating for bank facilities of Barbeque-Nation Hospitality. The rating agency has upgraded the credit rating for the bank facilities of Rs 15.50 crore of the company to A (stable) and for Rs 5 crore bank facilities, the rating has been upgraded to A2+.
PSP Projects | CMP: Rs 606 | The stock gained over 3 percent on August 25. The firm has been awarded contracts worth Rs 247.35 crore (excluding GST) from Precast and Government segments. With the receipt of this, the total order inflow for the financial year 2022-23 till date amounts to Rs 1,344.24 crore, it said in an exchange filing.
Aban Offshore | CMP: Rs 57.05 | The stock price hit the 20 percent upper circuit after the firm entered into a settlement agreement with the Central Bank of India, one of the Financial Creditors of the company. As per the terms of the settlement agreement, the company has agreed to pay and the Bank has agreed to accept the outstanding principal of Rs 121,78,41,258 within 30 days from the date of this agreement being the full and final settlement of all the credit facilities.
NHPC | CMP: Rs 35.50 | The stock price jumped over 4 percent after the company said its subsidiary NHPC Renewable Energy (NHPC REL), and the Government of Rajasthan have signed a Memorandum of Understanding (MoU) for the development of ultra mega renewable energy power park in Rajasthan. The main objective is to set up 10 GW ultra mega renewable energy power parks and renewable energy projects will be developed either on EPC or developer mode by NHPC REL.
Indian Metals & Ferro Alloys | CMP: Rs 267 | The scrip ended in the red on August 25 after Investor Fox Consulting Services offloaded a 0.02% stake in the company via open market transactions on August 19. With this, its shareholding in the company stands reduced to 6.35% from 6.37% earlier.
RBL Bank | CMP: Rs 128.40 | The share price jumped over 5 percent after a US-based fund acquired Rs 50 crore worth of the company’s shares via a block deal disclosed a day prior. As per the available data, College Retirement Equity Fund (CREF) bought 4,584,678 shares of RBL Bank on the NSE at an average price of Rs 108.86 per share. As of June 2022 shareholding data, the fund already holds 69,34,488 shares or 1.16 percent stake of the company.
RBL Bank | CMP: Rs 128.40 | The share price jumped over 5 percent after a US-based fund acquired Rs 50 crore worth of company’s shares via a block deal disclosed a day prior. As per the available data, College Retirement Equity Fund (CREF) bought 4,584,678 shares of RBL Bank on NSE at an average price of Rs 108.86 per share. As of June 2022 shareholding data, the fund already holds 69,34,488 shares in the company or 1.16 percent.
Sandip Das
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