Stocks in Focus Today : Today i.e. on 29th August 2024, some stocks (stocks in news) are ready to show action. Due to positive triggers, these stocks can remain in focus in the market today (stocks to watch). If you are looking for better stocks in intraday, then you can keep an eye on these (Stocks in Focus). Today’s list includes stocks like RIL, Paytm, Vodafone Idea, Tata Steel, IOC, HPCL, SBI, PB Fintech, InterGlobe Aviation, Macrotech Developers, KEC International, NALCO, One 97 Communications, Vedanta, NLC India, Annapurna Swadisht, Wipro, Lemon Tree Hotels.
RIL
The Competition Commission of India (CCI) said that it has approved the merger of the media units of Reliance Industries and Walt Disney Company to form the country’s largest media company. The Competition Commission has approved this merger agreement with some amendments proposed by both the parties. However, the Competition Commission did not give details of these voluntary amendments made by both the parties to the original deal. Under this merger agreement, the country’s largest media company worth more than Rs 70,000 crore will come into existence.
Paytm
One97 Communication, a financial technology company that owns the Paytm brand, has received government approval for ‘downstream’ investment in its wholly-owned subsidiary Paytm Payments Services Limited (PPSL). The company said in a notice to the stock exchange that it will apply afresh for the Payment Aggregator (PA) license. Paytm said that PPSL has received approval for investment from the parent company through a letter dated August 27, 2024 from the Department of Financial Services, Ministry of Finance, Government of India.
Vodafone Idea
The GST department has ordered telecom company Vodafone Idea Limited (VIL) to pay Rs 15.19 crore for wrongly availing input tax credit. A fine of Rs 1.51 crore has also been imposed on the company. Vodafone Idea said in a notice to the stock market that the Patna-based GST office has imposed this fine on it for availing input tax credit (ITC) despite not being eligible in the financial years 2019-20 and 2020-21. VIL said that it does not agree with this order and will take appropriate legal action on it.
Tata Steel
Tata Steel has bought about 178 crore additional equity shares of its Singapore unit T Steel Holdings Private (TSHP) Limited for $280 million. Now Tata Steel’s capital investment in TSHP has become $133.7 million. In a notice to the stock exchange, the company said that Tata Steel bought 1,78,34,39,490 ordinary equity shares of face value of $0.157 in TSHP, worth a total of $280 million (Rs 2,347.81 crore). After this acquisition, TSHP will remain a wholly owned subsidiary of Tata Steel.
IOC, HPCL
The central government appointed interim chairmen for top petroleum companies IOC and HPCL. The work of appointing full-time heads of both the companies is in progress. The Petroleum Ministry said in the order that IOC Director (Marketing) Satish Kumar Vaduguri has been appointed as the interim chairman of the company for three months from September 1. While HPCL Director (Finance) Rajneesh Narang has been appointed as the Chairman and Managing Director (CMD) of the company for three months.
SBI
Challa Srinivasulu Shetty took over as the Chairman of the public sector State Bank of India (SBI). He replaced Dinesh Khara. Khara retired from the bank’s services at the end of business hours on Tuesday. Shetty was earlier the senior-most managing director of SBI.
