Stocks in news: South Indian Bank, Adani Energy, JSW Steel, Nykaa and more

The domestic equity market was trading lower on Friday. Sensex fell 247 points to 64,903 and Nifty lost 78 pts to 19,286. 

Here’s a look at stocks that are likely to remain in news today.   

Nykaa, HDFC AMC 

Nykaa, HDFC AMC, Indus Towers, Page Industries and ACC have been excluded from Nifty Next50 in the latest revision of various NSE indices. 

Yatharth Hospital 

Yatharth Hospital logged a 73% year-on-year growth in its consolidated net profit at Rs 19 crore for the quarter ended June. 

Axis Bank 

The RBI has approved the appointment of Subrat Mohanty as Executive Director of the Bank for three years with effect from August 17. 

JSW Steel  

JSW Steel plans to form a consortium to bid for a majority stake in Teck Resources’ steelmaking coal business, Bloomberg reported. 

ONGC  

Oil and Natural Gas Corporation (ONGC) will invest Rs 1 lakh crore by the end of this decade to transform into a low-carbon energy player.  In a statement, India's largest crude oil and natural gas producer said it has detailed a "roadmap to scale up its low-carbon energy portfolio significantly". 

Adani Energy Solutions  

The company, formerly known as Adani Transmission, has inked an agreement with Megha Engineering & Infrastructures for acquisition of KPS 1 Transmission. In the filing, the company said it will buy 100% equity shares of special purpose vehicle company KPS 1, at face value of Rs 10 apiece. "This acquisition is proposed to further AESL’s strategy for enhancing value for its shareholders through organic as well as inorganic opportunities," AESL said. 

NTPC 

State-owned power giant NTPC has inked a business transfer agreement (BTA) to hive off its mining business, comprising six coalfields, to its arm NTPC Mining Ltd. "NTPC Ltd and NTPC Mining Ltd (NML) have executed the BTA on August 17, 2023, in New Delhi. The BTA shall become effective upon completion of the conditions precedent mentioned in the BTA," a BSE filing stated. 

Concord Biotech 

The shares of Concord Biotech will make their market debut on the exchanges today. The stock is likely to list at a premium of over 15%. 

Also read: Hot stocks on August 18, 2023: Adani Power, Indian Bank, Adani Green Energy, PTC Industries and more

Adani Green Energy  

Shares of Adani Green Energy Ltd are in focus today as associate firm, Mundra Solar Energy, has received approval for its solar photovoltaic manufacturing plant at Mundra, Gujarat from the Solar Energy Corp. of India (SECI). The plant has a capacity of 2.0 GW per annum. 

South Indian Bank  

Shares of South Indian Bank are in focus today after the lender said Reserve Bank of India (RBI) has approved the appointment of PR Seshadri as MD & CEO of the lender with effect from October 1. Seshadri will serve for a period of three years, said the bank in a notification to stock exchanges.   

 

Also read: JSW Steel tops Nifty pack in terms of earnings upgrade. Should you buy this stock? 

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