- At 7:45 am, the SGX Nifty was up 0.58% at 8.70 points pointing towards a positive start for Nifty50.
- Here’s a list of stocks to watch for in trade today.
- Check out the latest news and updates on Business Insider.
On Wall Street, the S&P 500 closed above the 3,400 thresholds for the first time, bolstered by gains in some big tech-related names. The Dow Jones Industrial Average also jumped 378.13 points to close at 28,308.46.
These are the stocks to watch out for during the trading session on Tuesday:
Future Retail
Kishore Biyani-led Future Retail has averted a default as it repaid around $14 million (around Rs 100 crore) interest on foreign bonds to investors.
The 30-day grace period for repaying the interest on ‘5.60 per cent Senior Secured Notes due 2025’ was to end on Monday.
The shares of Future Retail plunged over 5% on Monday.
Adani Enterprises
Billionaire Gautam Adani’s Adani Group is in talks to buy out GVK and some of its partners in the Mumbai Airport as it aims to become the country’s biggest private airport operator.
Adani Group is in talks to acquire a 50.5% stake held by GVK Group in Mumbai International Airport (MIAL) and another 23.5% of minority partners, Airports Company South Africa (ACSA), and Bidvest Group, two sources with knowledge of the matter told PTI.
The shares of Adani Enterprises ended 7% higher on Monday.
Axis Bank
Axis Bank on Monday said it would acquire 17% stake in Max Life Insurance instead of the 29% proposed earlier as per a revised deal.
Axis Bank currently holds about 1 per cent stake in Max Life and is the biggest banking channel partner for the distribution of the insurer’s products. Products sold through the bank reportedly account for 54% of Max Life’s revenues.
The shares of Axis Bank ended 2% higher on Monday.
GMR Infra
GMR Infra board to consider raising of funds of up to ₹5000 crore in one or more tranches, through the issue of securities as an enabling resolution as per the requirements of applicable laws which shall be subject to the approval of shareholders.
The shares of GMR Infra ended 5% higher on Monday.
Wipro
Wipro announced a partnership with Standard Initial Margin Model (SIMM) vendor, Quaternion Risk Management.
As part of the deal, Wipro will offer SIMM-in-a-box to financial institutions covered under Uncleared Margin Rules (UMR).
The shares of Wipro ended nearly a percent lower on Monday.
Allcargo Logistics
The promoters of Allcargo Logistics have proposed to delist the company shares as part of its efforts to pare debt, the company said in a stock-exchange filing on August 24.
The shares of Allcargo Logistics ended nearly a percent higher on Monday.
LIC Housing Finance
Mortgage lender LIC Housing Finance reported a 34% jump in its net profit to ₹817.48 crore for the quarter ending June helped by lower provisioning.
The total income of the company rose to ₹4,977.49 crore in April-June 2020 from ₹4,807.21 crore in the year-ago quarter, according to a regulatory filing.
The shares of LIC Housing Finance ended nearly a percent lower on Monday.
JSW Energy
JSW Energy said that its Executive Director Jyoti Kumar Agarwal, who is also the Chief Financial Officer (CFO), has tendered his resignation and will step down with effect from September 15.
In a regulatory filing, the company said that Agarwal has decided to pursue career opportunities outside the company.
The shares of JSW Energy ended 2% lower on Monday.
Indian Energy Exchange
Indian Energy Exchange (IEX) on Monday said its board of directors had accepted the resignation of its Managing Director and CEO Rajiv Srivastava.
The company has given Satyanarayan Goel the additional charge of Managing Director and CEO.
“Board of directors of the company at its meeting held today, i.e. August 24, 2020, has approved the resignation of Rajiv Srivastava, Managing Director & CEO of the company, who has tendered his resignation on August 24, 2020, from the board of the company, due to his personal reasons,” the company said in a stock-exchange filing.
The shares of Indian Energy Exchange ended a percent higher on Monday.
SEE ALSO: Axis Bank trims its investment in Max Life Insurance from 30% to 18%
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